Skip to comments.Tesla Loses $49.8 Million In Q1 2014, Panasonic On Board With Gigafactory
Posted on 05/10/2014 6:09:13 PM PDT by jjotto
Although Tesla reported a profit of $17 million on $713 million in revenue, their financials were reported using non-GAAP (Generally Accepted Accounting Principles) figures. Which means that my current checking account, according to non-GAAP figures, is probably somewhere in the high seven figures.
Using GAAP numbers, Tesla lost nearly $49.8 million, on revenues of $620 million. Despite the loss, Tesla delivered 6,457 units, and expects to sell 35,000 Model S units this year. Tesla also announced that their Model X SUV will be delayed again, until 2015.
But the bad news was interrupted today by a major development for Tesla. Panasonic, a major supplier of battery cells to Tesla, signed a letter of intent regarding their new Gigafactory that will build lithium-ion batteries somewhere in the Southwestern United States.
I think they lose money on every sale but they are hoping to make it up on volume
Or, an Obama taxpayer cash influx.
Or, an Obama taxpayer cash influx.
Aside from where I live, where thy are all over the damn place, I have a hard time believing there is much market left for these cars.
Maybe we’ll see a movie called “Musk” in 40 years...about the other evil companies running him out of business
Until someone invents perpetual motion or a micro-nuclear powered or hydrogen engine, nothing is going to replace the internal combustion engine and good-old fashioned gasoline.
Never seen one.
This actually makes some sense. Mahindra to build electric scooters in Ann Arbor Michigan. Sounds like they intend to cater to college students in college towns.
there are 150 mpg diesel/water engines by volkswagon and they won’t let them in the country.
you can do a great mpg improvement with gas/water engines but we can’t do that because it gives people too much freedom and ability to travel without paying govt those pesky gas taxes.
Generated $60 million in cash from operations. EPS is about the worst measure of financial success of a company there is. My company lost $2 billion GAAP in 2009 and we were far better off by the end of that year. It’s all about cash.
I see them everywhere. Probably 7-10 a day. I wish I had a spare $100K to get one. Friend of mine just got one and he says it’s the best car he’s ever driven (had Mercedes, Lexus, BMW). But TSLA’s future is not in $100K + cars. It’s in the $50,000 market and making batteries.
Make it 3 wheel, maybe of the "tilting" type 3 wheelers and enclose it for 3 seasons, and you got a winner. Can't ride these 2 wheel scooters in the Winter even on U of M campus where even in that Socialist Utopia they still get snow, sleet, and hail.
They ride bicycles over there all winter, they can ride 2 wheelers but a 3 wheeler would be better (And considerably more expensive)
Tesla’s “cash” comes from Zero Emissions Vehicle credits.
Except they didn’t. From the Q filed Friday:
“During the three months ended March 31, 2014, we did not recognize any ZEV credit sales and we expect the contribution of ZEV credit revenue to remain low in the future relative to our automotive sales as we continue to grow our sales outside the United States. “
Right. Without ZEV credits they lost money. But hey, they still have cash flow. Worked for years for General Motors.
No actually they had to record $45 million of non-cash stock comp and non-cash interest expense according to GAAP. Which shows that EPS is completely worthless as a measure of financial success.
I doubt it. Deep pocket owners in the auto industry don't seem to do well with innovation.
What's to stop Tesla from one day selling a car with a hybrid engine, or a diesel, or any other powerplant?
I wouldn't bet against them.
They were breakeven on an EBITDA basis and that INCLUDES the $45 million in non-cash expenses. The $60 million cash from operations included increasing inventory by $197 million. That’s a lot of working capital changes to overcome.
Reminds me of the story about the man who bought a truck load of watermelons for a dollar each and sold them for a dollar each. That night he and his wife sat down at the kitchen table and tallied the day’s receipts. When the figures were totalled the man looked at his wife and said “I’m going to have to get a bigger truck.”
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