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What to Expect From Tesla's Q1 Earnings Report On Monday

Benzinga2021-04-25

EV giant Tesla, Inc. (NASDAQ: TSLA) is scheduled to release its first-quarter results Monday, after the market close.

Key Q1 Metrics to Watch For: Tesla is expected to report non-GAAP earnings per share, or EPS, of 79 cents in the first quarter of 2021, up sharply from 23 cents in the year-ago quarter.

The consensus revenue forecast for the quarter is at $10.29 billion, up 72% year-over-year.

In the fourth quarter, Tesla had earned 80 cents per share on a non-GAAP basis on revenues of $10.74 billion.

Tesla revealed in early April it delivered a record 184,800 vehicles in the first quarter, comprising 182,780 Model 3/Y vehicles and 2,020 Model S/X vehicles. This represents a 109% year-over-year increase and 2.2% sequential growth. Quarterly production was at 180,338.

Focus On Regulatory Credits, Automotive Margins: The focus is likely to be on regulatory credits, which accounted for 4.3% of its revenues in the fourth quarter of 2020. Zero-emission vehicle regulations adopted by several states allow EV manufacturers to earn regulatory credits, which can be monetized by selling to legacy automakers, who are not able to achieve the minimum target set for the proportion of green energy vehicles sold.

Automotive gross margin slipped to 24.1% in the fourth quarter of 2020 from 27.7% in the previous quarter. It's likely the company could see a further moderation in margins, as production of the higher priced Model S/X vehicles was stalled in the quarter to allow for model refreshes.

View more earnings on TSLA

With competitive pressure intensifying, Tesla could aggressively slash vehicles prices in order to achieve volume production targets, long-time Tesla bear Gordon Johnson said in a note previewing the quarterly results.

Tesla investors may also be keen to find out more about the company's Bitcoin investment strategy and its decision to allow the use of Bitcoin for vehicle purchases.

Forward Outlook: Tesla is well positioned to capitalize on the opportunity presented by the exponential growth that is anticipated for green energy vehicles. Its Giga Shanghai factory is now churning out both Model S and Model Y vehicles, and more capacity is expected to come on line with the opening of factories in Berlin and Texas.

Tesla's CFO Zach Kirkhorn said on the earnings call that the company is shooting for a 50% compounded annual growth rate in volume sales and expects to materially exceed the target in 2021.

Stock Take: Tesla's shares, which were flying high until early February, joined the tech sell-off that ensued. From a split-adjusted high of $900.40 on Jan. 25, the stock fell to $539.49 on March 5, a peak-to-trough decline of 40%.

Although the stock has made good some of the losses since then, it is yet to break above $800 level.

Tesla holds a several-year lead and is now expanding aggressively into storage, and therefore a premium valuation for its shares is justified, CANACCORD Genuity analyst Jed Dorsheimer said in a recent note. The firm has a $1,071 price target for the stock.

Friday, Tesla's shares ended 1.35% higher at $729.40.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

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评论390

  • TerenceD
    ·2021-04-27
    That’s 👍🏻 
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  • WeiChyi
    ·2021-04-27
    Go go go
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  • TKe
    ·2021-04-27
    Hopeful
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    收起
  • francis3
    ·2021-04-27
    Please comment on whether it is still the right time to buy the stock.
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    • Bodoh
      Drop aFter mOnday
      2021-04-27
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    • Raz
      Ok
      2021-04-27
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  • 1nu
    ·2021-04-27
    Help me like and comment:)
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    • Bodoh
      Yup
      2021-04-27
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  • EdwardKarchi
    ·2021-04-27
    Go TSLA 
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    • jerromey
      Go
      2021-04-27
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  • Zfron
    ·2021-04-27
    Like n comment
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    • EdwardKarchi
      Done, Please comment back
      2021-04-27
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  • ApplePL
    ·2021-04-27
    Like n comment pls thx
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    • ApplePL
      [Smile]
      2021-04-27
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  • lfc
    ·2021-04-27
    Gd read
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    • selwyn
      yea
      2021-04-27
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  • AxThePro
    ·2021-04-27
    To the moon please. 
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    • EdwardKarchi
      Yeah, Please response my comment
      2021-04-27
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    • AxThePro
      Oksure.
      2021-04-27
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  • steven_tohhl
    ·2021-04-27
    Tesla to climb! Like me please.
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    • Yugi
      Ok. pls reply
      2021-04-27
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    • AxThePro
      Ok
      2021-04-27
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  • OWYONG
    ·2021-04-27
    Yup... then to Mars
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    • AxThePro
      Agreed.
      2021-04-27
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  • OWYONG
    ·2021-04-27
    To the moon
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    • Terry1989
      really?
      2021-04-27
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    • OWYONG
      Sure it will
      2021-04-27
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  • TVermeulen
    ·2021-04-27
    Rocket[Sly] 
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  • AngelaChan
    ·2021-04-27
    Tesla electric car
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    收起
    • TVermeulen
      They do indeed
      2021-04-27
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  • ckpham8122
    ·2021-04-27
    Like the comment
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    • OWYONG
      like
      2021-04-27
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  • Vento95
    ·2021-04-27
    To the moon
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  • Yappy
    ·2021-04-27
    Tesla to the moon 🌝
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    • 林癸源
      [真香]
      2021-04-27
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  • BeHappy
    ·2021-04-27
    Waitomg for telsa price to soar again. 
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  • Danlim
    ·2021-04-27
    Comment and like pls
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    收起
    • Sandy92
      done. please help like and comment
      2021-04-27
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