Musk believes that it's more important to increase the number of Teslas on the roads than it is to maximize profits. I tend to agree with that assessment, both because of the increased possibility of FSD purchase and because Tesla has the highest satisfaction rate in the industry with 65% buying another Tesla.
Tesla 2023
- Thread starter VicBee
- Start date
Wall Street is fickle and good for trading. But I'm also invested in TSLA for 5 to 10 years, so long term growth is important.
You can wait for a serious economic pullback first. In the meantime, get your money ready for ARM IPO, the next watch is RISC-V chip sector, any small company can grow substantially bigger.
And there it is
https://cleantechnica.com/2023/07/19/tesla-revenue-up-47-gross-profit-up-7-year-over-year/
Tesla Revenue Up 47%, Gross Profit Up 7% Year Over Year
ByZachary Shahan
Tesla continued to rake in the cash in the second quarter of 2023, on the back of record global deliveries. The company brought in nearly $25 billion in revenue in the second quarter (Q2), which was 47% more than in Q2 2022. But let’s look a little more closely at these and other numbers.
Tesla Gross Profit & Gross Margin
Total gross profit was a bit more than $4.5, up 7% compared to Tesla’s gross profit in Q2 2022.
A third key overarching financial figure is gross margin (using GAAP accounting). While Tesla was still at a very healthy 18.2% on this metric, that was down considerably from the 22.4% of Q2 2022 — as you may have already figured out when seeing revenues up 47% but gross profits up only 7%. (And if you did the math in your head, extra credit or bonus points for you.)
Looking by segment, Tesla’s automotive revenue was up 46% to $21.27 billion, its energy generation and storage revenue was up 74% to $1.51 billion, and its “services and other” revenue was up 47% to $2.15 billion.
Tesla Cash
Let’s just look at straight cash matters now.
“Net cash provided by operating activities” was up to $3.065 billion, 30% more than the $2.351 billion of Q2 2022.
Meanwhile, capital expenditures were $2.060 billion, up 19% from the $1.730 billion of Q2 2022.
Free cash flow, thus, was $1.005 billion, 62% more than the $621 million of Q2 2022.
Cash, cash equivalents, and investments were a record $23.075 billion, 22% higher than a year before.
If you like looking at a table full of numbers, here’s another way to look at the figures above and more from Tesla:
We’ve already covered Tesla vehicle production and deliveries (aka sales) for Q2, but here’s a table showing those as well as solar, energy storage, Tesla location, mobile service fleet, Supercharger station, and Supercharger connector growth:
So, yes, vehicle production jumped 86% and vehicle deliveries jumped 83% in Q2 2023 compared to Q2 2022, and leasing jumped 137% but is still a very small portion of Tesla’s vehicle business.
Vehicle inventory (days of supply) is an interesting metric for a number of reasons. First of all, it was up 300% in Q2 2023. Inventory being higher was something we highlighted before the production and sales numbers came out a couple weeks ago — both looking at order backlog and inventory itself. Just looking at how that changed year over year (up 300%) could be a bit concerning — and maybe it remains a bit concerning for some of you. However, when you look at the number of days of supply, those concerns can also dissolve quickly. Last year, Tesla had just 4 days or supply (inventory) at the end of Q2. This year, that had risen to 16 days of supply, but 16 days of supply is still better than the industry average and quite small. Some have said that this increase in inventory is largely due to Tesla “unwinding the wave” of its historically complicated globally delivery process.
The number of Tesla locations (sales, service, delivery, and body shop locations) had risen 29% from 831 in Q2 2022 to 1,068 in Q2 2023. Meanwhile, its mobile service fleet rose 22% from 1,453 vehicles to 1,769 vehicles.
On the charging front, Supercharger stations grew 33% from 3,971 to 5,265, and individual Superchargers connectors grew 33% from 36,165 to 48,082. That’s astounding charging infrastructure growth, and it’s something we’ll probably come back to in another article.
The vehicle business is certainly the bulk of Tesla’s business, but let’s also look at those other interesting energy industry metrics. Deployed Tesla solar power declined year over year, from 106 MW to 66 MW. That’s a bit surprising since the Inflation Reduction Act has encouraged solar power adoption. On the other hand, deployed energy storage products grew 222%, from 1,133 MWh to 3,653 MWh.
4'
Cars
Tesla Now At 4% Of US Auto Market, Nearly 3% Of European Auto Market
By
Zachary Shahan
Published
13 hours ago
One of the most interesting elements of Tesla’s quarterly shareholder reports is something that seldom gets much or even any attention. There’s not a lot to write about it, but it is always fascinating to look at and ponder. What I’m talking about is Tesla’s graph on the company’s market share in three major auto markets — the US, Europe, and China.
Most notable is the fact that Tesla’s market share grows almost continuously in all three markets. It keeps getting more and more of the auto industry pie.
The next most notable highlight for me is that Tesla’s share of the US auto market is up to ~4%. That means one out of every ~25 automobile sales in the country is a new Tesla making it into someone’s driveway. That’s up from well under 2% two years ago and around 3% one year ago.
Tesla’s market share growth in Europe has a very similar growth trend but rose much more sharply in the last quarter. Tesla is approaching 3% market share in that large car market. That means one of out every 33 or so new cars on the road is a Tesla.
Then there’s China. China is the largest auto market in the world and also by far the largest electric car market. Tesla has just surpassed 2% market share there, accounting for one out of every 50 new car sales. It’s true that 2% is no 3% or 4%, but given the volumes in this market and the extreme level of EV competition, this result is still very notable.
We’ll see if Tesla can maintain this upward trend and momentum in the third quarter.
Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.
https://cleantechnica.com/2023/07/19/tesla-revenue-up-47-gross-profit-up-7-year-over-year/
Tesla Revenue Up 47%, Gross Profit Up 7% Year Over Year
ByZachary Shahan
Tesla continued to rake in the cash in the second quarter of 2023, on the back of record global deliveries. The company brought in nearly $25 billion in revenue in the second quarter (Q2), which was 47% more than in Q2 2022. But let’s look a little more closely at these and other numbers.
Tesla Gross Profit & Gross Margin
Total gross profit was a bit more than $4.5, up 7% compared to Tesla’s gross profit in Q2 2022.
A third key overarching financial figure is gross margin (using GAAP accounting). While Tesla was still at a very healthy 18.2% on this metric, that was down considerably from the 22.4% of Q2 2022 — as you may have already figured out when seeing revenues up 47% but gross profits up only 7%. (And if you did the math in your head, extra credit or bonus points for you.)
Looking by segment, Tesla’s automotive revenue was up 46% to $21.27 billion, its energy generation and storage revenue was up 74% to $1.51 billion, and its “services and other” revenue was up 47% to $2.15 billion.
Tesla Cash
Let’s just look at straight cash matters now.
“Net cash provided by operating activities” was up to $3.065 billion, 30% more than the $2.351 billion of Q2 2022.
Meanwhile, capital expenditures were $2.060 billion, up 19% from the $1.730 billion of Q2 2022.
Free cash flow, thus, was $1.005 billion, 62% more than the $621 million of Q2 2022.
Cash, cash equivalents, and investments were a record $23.075 billion, 22% higher than a year before.
If you like looking at a table full of numbers, here’s another way to look at the figures above and more from Tesla:
We’ve already covered Tesla vehicle production and deliveries (aka sales) for Q2, but here’s a table showing those as well as solar, energy storage, Tesla location, mobile service fleet, Supercharger station, and Supercharger connector growth:
So, yes, vehicle production jumped 86% and vehicle deliveries jumped 83% in Q2 2023 compared to Q2 2022, and leasing jumped 137% but is still a very small portion of Tesla’s vehicle business.
Vehicle inventory (days of supply) is an interesting metric for a number of reasons. First of all, it was up 300% in Q2 2023. Inventory being higher was something we highlighted before the production and sales numbers came out a couple weeks ago — both looking at order backlog and inventory itself. Just looking at how that changed year over year (up 300%) could be a bit concerning — and maybe it remains a bit concerning for some of you. However, when you look at the number of days of supply, those concerns can also dissolve quickly. Last year, Tesla had just 4 days or supply (inventory) at the end of Q2. This year, that had risen to 16 days of supply, but 16 days of supply is still better than the industry average and quite small. Some have said that this increase in inventory is largely due to Tesla “unwinding the wave” of its historically complicated globally delivery process.
The number of Tesla locations (sales, service, delivery, and body shop locations) had risen 29% from 831 in Q2 2022 to 1,068 in Q2 2023. Meanwhile, its mobile service fleet rose 22% from 1,453 vehicles to 1,769 vehicles.
On the charging front, Supercharger stations grew 33% from 3,971 to 5,265, and individual Superchargers connectors grew 33% from 36,165 to 48,082. That’s astounding charging infrastructure growth, and it’s something we’ll probably come back to in another article.
The vehicle business is certainly the bulk of Tesla’s business, but let’s also look at those other interesting energy industry metrics. Deployed Tesla solar power declined year over year, from 106 MW to 66 MW. That’s a bit surprising since the Inflation Reduction Act has encouraged solar power adoption. On the other hand, deployed energy storage products grew 222%, from 1,133 MWh to 3,653 MWh.
4'
Cars
Tesla Now At 4% Of US Auto Market, Nearly 3% Of European Auto Market
By
Zachary Shahan
Published
13 hours ago
One of the most interesting elements of Tesla’s quarterly shareholder reports is something that seldom gets much or even any attention. There’s not a lot to write about it, but it is always fascinating to look at and ponder. What I’m talking about is Tesla’s graph on the company’s market share in three major auto markets — the US, Europe, and China.
Most notable is the fact that Tesla’s market share grows almost continuously in all three markets. It keeps getting more and more of the auto industry pie.
The next most notable highlight for me is that Tesla’s share of the US auto market is up to ~4%. That means one out of every ~25 automobile sales in the country is a new Tesla making it into someone’s driveway. That’s up from well under 2% two years ago and around 3% one year ago.
Tesla’s market share growth in Europe has a very similar growth trend but rose much more sharply in the last quarter. Tesla is approaching 3% market share in that large car market. That means one of out every 33 or so new cars on the road is a Tesla.
Then there’s China. China is the largest auto market in the world and also by far the largest electric car market. Tesla has just surpassed 2% market share there, accounting for one out of every 50 new car sales. It’s true that 2% is no 3% or 4%, but given the volumes in this market and the extreme level of EV competition, this result is still very notable.
We’ll see if Tesla can maintain this upward trend and momentum in the third quarter.
Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.
(CNBC) Morning Daily Open newsletter - so no link
Tesla’s record revenue
Tesla booked record revenue of $24.93 billion, a year-on-year increase of 42% thanks to price cuts. However, that meant operating margin dropped to 9.6%, the lowest for the last five quarters. Still, net income increased 20% from last year to $2.7 billion. Both profit and revenue beat Wall Street’s expectations. But shares sank 4.19% in extended trading after CEO Elon Musk failed to give concrete information on Cybertruck and robotaxi plans during Tesla’s earnings call.
+ + +
Ignore the Cybertruck/Robotaxi stuff. Maaaaaaaaargins are it.
Tesla’s record revenue
Tesla booked record revenue of $24.93 billion, a year-on-year increase of 42% thanks to price cuts. However, that meant operating margin dropped to 9.6%, the lowest for the last five quarters. Still, net income increased 20% from last year to $2.7 billion. Both profit and revenue beat Wall Street’s expectations. But shares sank 4.19% in extended trading after CEO Elon Musk failed to give concrete information on Cybertruck and robotaxi plans during Tesla’s earnings call.
+ + +
Ignore the Cybertruck/Robotaxi stuff. Maaaaaaaaargins are it.
Meh, look at the last couple years and you will see that share price drops fairly significantly after each Q reporting.
Coinciding with deceleration, then dropping of gross margins.