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Tesla Motors Inc (TSLA) Loses 48 cents, Shares Collapse [Live Blog]

Elon Musk Tesla Motors Inc (TSLA) and SolarCity Corp (SCTY)

Update 16:27 EDT: We’ll do all the numbers up here, too much waiting below.

Update 16:28 EDT: Loss of 48 cents per share, better than Wall Street.

Update 16:28 EDT: Sales came in at $1.2B, ahead of the $1.17 Wall Street looked for.

Update 16:29 EDT: Car sales came in at 11,532. That’s a massive 25 car revision.

Update 16:30 EDT: Stock is getting crushed. It’s not clear why just yet. This will likely bounce around all night.

Update 16:31 EDT: Margin came in at 23.9%, that’s 1 percent below guidance.

Update 16:32 EDT: Model X still on track for Q3.

Update 16:33 EDT: Cash Burn was at $359M. Tesla Motors now has just $1.15B to play with.

Update 16:34 EDT: Tesla reined in both its full year forecast and brought its Q3 shipment numbers to 12,000. 55,000 for the year looks less and less likely.

Update 16:35 EDT: Shipments seen at 50,000-55,000. Elon Musk gave us hints that the guidance would come down.

Update 16:36 EDT: Guidance is likely the big factor in the share collapse. Shares are now down by more than 6 percent and trading at around $252.

Update 16:37 EDT: Product mix shifted toward 70, that’s what killed margins this time around.

Pre-Earnings:

Update 16:00 EDT: The market is now closed. Tesla shares are up for the day after opening lower. There was a volume spike just after 2 PM that some are attributing to an earnings leak, but there’s no evidence of that.

Update 16:01 EDT: The Tesla Motors call is at 5:30 PM EDT. We don’t know when the report will be out but it could be as late as 5:00 PM.

Update 16:02 EDT: The call is likely to matter more than the numbers, so the stock movement is likely to be wild for the next couple of hours.

Update 16:03 EDT: We’ll be able to tell how Elon feels about earnings from the waiting song he plays on the call. Might see some Ludacris again.

Update 16:05 EDT: We’re looking at a release at around 4:30 EDT, but who knows when it comes to Musk?

Update 16:09 EDT: There’s a lot of action, both up and down, in after-hours trading, who’s getting nervous out there?

Update 16:11 EDT: We’re down 1.5 percent after hours, no scent of the report yet though.

Update 16:12 EDT: For those with divided attention: FitBit beat the Street. Stock is up a tad after-hours, but not as much as the beat would suggest.

Update 16:13 EDT: Biggest Tesla Motors news today was apparent huge sales in China. If the firm has sorted out its sales problem, and confirms that today, Wall Street will likely love it.

Update 16:17  EDT: Tesla is now flat after hours. We might see results at 16:20, but nobody really knows.

Update 16:20 EDT: Flat AH won’t help those with options very much. We’ll see what Mr. Musk does about that when he speaks later on this afternoon.

Update 16:22 EDT: FitBit now down more than 9 percent in after-hours. Something rotten in that report, but there’s no time to look now. Tesla might report at 16:30.

Update 16:24 EDT: Tesla might also just say to expect earnings “this Summer” and leave it at that.

 

Tesla Motors Inc will release its earnings after the market closes for the day on Wednesday August 5. Wall Street already knows how many cars the firm sold during the quarter, 11,500, so the important numbers this time around will be the firm’s sales figures and how much cash Elon Musk burned in the three months through June.

Elon Musk Tesla Motors Inc earnings

By consensus Wall Street research houses on the sell side are looking for the firm to show a loss per share of 50 cents this time around on sales of $1.04B. In the same three months of 2014 Tesla Motors showed a loss of 12 cents per share on revenue of $741m.

We’ll have all the important numbers live right here once they emerge. Here’s what to look for when they arrive.

Tesla Motors: The important earnings numbers

Nobody is looking for surprise earnings from Tesla Motors this time around. What Wall Street, and traders, want to see is that the firm handled its cash well during the quarter and that it has enough rope to begin selling the Model X without needing to take on even more debt.

When it released its earnings for the three months through March on May 6 the firm showed that it burned $400m of cash. The market took that well though Adam Jonas of Morgan Stanley said that the burn was “eye-watering.”

The cash burn number will be one of the most important this time around, even though Tesla Motors got access to $500m in credit on June 12. Standard and Poor’s called that a “liquidity cushion” and said it should serve the firm through the launch of the Model X.

Tesla’s margins will also be closely watched this afternoon. The firm guided for margins of 26 percent, but some have questioned that given the drop in the price of the firm’s 70D. The car now retails for $70,000, a number that could drag down the product mix that the firm need to hit its margin target.

Where is the Model X

Tesla Motors made a lot of promises about the third quarter and with just two months left it hasn’t come through. The firm said that the Model X will ship before the end of September when it last showed off its results. Elon Musk and the team at Tesla have confirmed that since,  but we haven’t seen any certain date for the first shipment.

Wall Street will also be looking for an update on the other demand weapon that Tesla Motors has promised. The firm’s self-driving cars are due to hit the road this Summer, and Elon Musk says they’re almost ready, but we don’t have a date for them either.

On the supply side, Wall Street will be looking for an update on the Gigafactory. The facility won’t be finished for a long time yet, but it will be vital to boosting the firm’s gross margin in the years ahead, and making the Model 3, the mass-market car Elon Musk says he will sell in 2017, profitable for Tesla Motors and those with shares.

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