Blog Q3 Report: Tesla Turns $312 Million Profit on $6.8 Billion Revenue

Tesla reported Wednesday a third-quarter profit that beat Wall Street’s expectations.

“Q3 2018 was a truly historic quarter for Tesla,” the company said in a press release. “Model 3 was the best-selling car in the US in terms of revenue and the 5th best-selling car in terms of volume.”

Tesla had adjusted earnings of $2.90 per share and revenue of $6.8 billion versus $6.3 billion expected. Free cash flow was $881 million for the quarter, the company said. Total long-term debt also increased slightly, to $9.67 billion.

With average weekly Model 3 production through the quarter (excluding planned shutdowns) of roughly 4,300 units per week, Tesla achieved GAAP net income of $312 million. They also delivered on internal cost efficiency targets, leading to GAAP Model 3 gross margin of more than 20%, which exceeded guidance.

 

[PhatCat]

What's that smell? It smells like.....shorts burning?

 

[Phrixotrichus]

Those sweet sweet short-tears....

 

[Henry Harris]

Tesla is a paradigm shift in the auto industry. I'd say Tesla is to a traditional car company as Amazon is to a brick-and-mortar store. The product is unique, including the over-the-air software updating, and many other features others can add. The approach to market is unique, lacking costly middlemen (dealerships), advertising cost (Ford and GM spend $2 - 3 BILLION per year), having their own service centers, and even mobile service. It will take years for the traditional companies to just provide competitive vehicles, and probably decades to change the way they do business.

 

[malcolm]

Congratulations Tesla!

Less of a milestone; more of a meteorite.

Bring on Model Y.

 

[TintDepot.com]

Great Q3 results, way to go Team Tesla & Elon.

 

[75Shappyt]

Go Elon,

 

[StellarRat]

Dear Shorts,

Here's a package of brand new under shorts for you as I'm sure yours are beyond bleaching now.

Love,
Elon and Company

 

[dark cloud]

Like there was ever any doubt.

 

[VT_EE]

Glad I bought more stock the other week at $255!

 

[PDX-JP]

Glad I bought more stock the other week at $255!

So did I!

 

[M falcon]

Where the hell are the negative nancies, the shorts, the a-holes on this forum. I want to hear their pathetic excuses. Their “Ah but, but, they can’t accomplish this next quarter.” Freakin idiots who couldn’t see the writing on the wall like I could years and years ago. Elon Musk is a freaking genius, Edison of our time? Try Leonardo divinci.

 

[FlatSix911]

Tesla reported Wednesday a third-quarter profit that beat Wall Street’s expectations. “Q3 2018 was a truly historic quarter for Tesla,” the company said in a press release. “Model 3 was the best-selling car in the US in terms of revenue and the 5th best-selling car in terms of volume.” Tesla had adjusted earnings of $2.90...
[WPURI="https://teslamotorsclub.com/blog/2018/10/24/q3-report-tesla-turns-312-million-profit-on-6-8-billion-revenue/"]READ FULL ARTICLE[/WPURI]

Love this chart... Tesla Model 3 becomes best-selling US car by revenue and delivers gross margin beyond expectations

 

[Mo City]

Here is a link to a written transcript of the earnings call.

RPC (RES) Q3 2018 Results - Earnings Call Transcript | Seeking Alpha

 

[StellarRat]

Here is a link to a written transcript of the earnings call.

RPC (RES) Q3 2018 Results - Earnings Call Transcript | Seeking Alpha

Maybe you should post the Tesla earnings call instead. I mean, I love pressure pumps and all, but cars are more interesting to me.

 

[StellarRat]

Where the hell are the negative nancies, the shorts, the a-holes on this forum. I want to hear their pathetic excuses. Their “Ah but, but, they can’t accomplish this next quarter.” Freakin idiots who couldn’t see the writing on the wall like I could years and years ago. Elon Musk is a freaking genius, Edison of our time? Try Leonardo divinci.

They've all been down at the clinic with their partners getting cones for their heads, so they don't get an infection from licking their financial wounds. I'm sure they'll be back when the stitches are out.

 

[Maximilien]

Who knew Model 3 would compete in sales with volume market?

 

[Mo City]

Maybe you should post the Tesla earnings call instead. I mean, I love pressure pumps and all, but cars are more interesting to me.

Slap me 50 times with a wet noodle.

Here it is for real: Tesla Inc. (TSLA) CEO Elon Musk on Q3 2018 Results - Earnings Call Transcript | Seeking Alpha

 

[Sean Wagner]

Hi hi hey! Tesla's on its way.

Who stayed up beyond half-past midnight GMT+1 to hear a rather subdued Elon Musk, his henchwoman as well as henchmen officially mark a turning point in the electric vehicle adoption saga?
Anyway - someone's offering to be slapped with a wet noodle!
Priorities! Where do I stand in line?
Electrifying!

 

[Sean Wagner]

The uptick in margins on the Model 3 is the big story to me, together with big-leagues style mass production coming to Fremont.

But Elon also seemed really fired up talking about the pickup - I think the globally much diminished Detroit two-and-a-half should very seriously consider their predicament. No other manufacturers are so reliant upon one category of vehicles specific to one market in the world.