Savvy Trades and Investments

[researcher59]

TSLA -10 to 197, deserves to go lower after the disappointing Q3 numbers ..... gross margins are plunging and so is net income and EPS.

I'll be interested if the stock gets back to $100 where it was 10 months ago.

https://seekingalpha.com/article/4644990-tesla-expecting-shares-down-to-double-digits-by-end-of-2024

briefing -

Tesla misses by $0.07, misses on revs, gross margin down 30 bps qtr/qtr, reaffirms FY23 production outlook of 1.8 mln vehicles, says Cybertruck deliveries remain on track for later this year (242.68 -12.17) :
Reports Q3 (Sep) earnings of $0.66 per share, excluding non-recurring items, $0.07 worse than the FactSet Consensus of $0.73; revenues rose 8.8% year/year to $23.35 bln vs the $24.19 bln FactSet Consensus.
GAAP gross margin of 17.9%, down 719 bps yr/yr and down 30 bps qtr/qtr.
Deliveries of 435,059, up 27% yr/yr.
Operating income decreased yr/yr to $1.8 bln, primarily impacted by reduced ASP due to pricing and mix, increase in operating expenses driven by Cybertruck, AI and other R&D projects, and cost of production ramp and idle cost related to factory upgrades.
Outlook: Reaffirms production guidance for 2023, expects to remain ahead of the long-term 50% CAGR with around 1.8 million vehicles for the year.
Cybertruck: TSLA says deliveries remain on track for later this year.