Tesla Motors Inc (NASDAQ:TSLA) will release its fiscal third-quarter results on Wednesday, Nov.5 after the market closes. Shares of the electric vehicle maker ticked up 1.14% in pre-market trading. Analysts polled by FactSet expect the company’s Q3 revenue to jump 48% YoY to $891.67 million, with a net loss of one cent a share.
Michael Mauboussin: Here’s what active managers can do
The debate over active versus passive management continues as trends show the ongoing shift from active into passive funds. Q2 2020 hedge fund letters, conferences and more At the Morningstar Investment Conference, Michael Mauboussin of Counterpoint Global argued that the rise of index funds has made it more difficult to be an active manager. Drawing Read More
Tesla likely delivered 8,200 Model S in September quarter
Last week, Tesla CEO Elon Musk said that the company’s North America deliveries in the third quarter soared 65% from last year. It implies U.S. deliveries of close to 4,900 units. Barclays analyst Brian A. Johnson said in a research note that Tesla likely delivered 8,200 Model S units between July and September, well above the company’s guidance of 7,800 units.
Barclays was expecting 7,844 Model S deliveries with 5 cents in earnings. The research firm forecasts third-quarter revenues of $920 million. But strong Model S sales imply pro-forma EPS of 12 cents. Johnson estimates that Tesla delivered 1,700 units in Europe and about 1,600 units in Asia. The research firm was expecting 2,400 Model S deliveries in Asia. But a recent report from The Wall Street Journal suggests that only 1,600 Model S units were imported into China in Q3.
Expect healthy earnings from Tesla
Barclays expects Tesla Motors Inc (NASDAQ:TSLA) to reiterate its full-year delivery guidance of 35,000 units. If the company delivers 8,200 units in Q3, the fourth-quarter implied guidance stands at 12,800. By comparison, the research firm expects the automaker to deliver 12,200 units in Q4. What’s more, the Palo Alto-based company signed a deal with the U.S. Bank to offer a new low-cost lease option, which may push up deliveries.
During its second-quarter earnings call, Tesla said that it would be “marginally profitable” in the third-quarter. The company cautioned investors that the capex would jump significantly as it continued to build its supercharger network and expand in new markets. However, the delivery data points to a healthy 12 cents a share in earnings. The company had lost 12 cents per share in the same quarter last year.
Tesla Motors Inc (NASDAQ:TSLA) shares were up 1.10% to $241.55 in pre-market trading Wednesday.