Tesla reported earnings per share of 80 cents on revenue of $10.74 billion in the fourth quarter, less than expected 90 cents a share, according to the company’s press release. The company projects a 50% average annual rise in vehicle deliveries in 2021, up from 36% growth in 2020.
- Revenue from regulatory credits rose by 202% to $401 million.
- Deliveries surged 61% in Q4 to 180,667, led by a 75% growth from the Model 3.
- Average selling price fell 11% due to shifts to the cheaper Model 3 and Y vs. the Model S and X.
- Quarter-end cash and cash equivalents hit $19.4 billion in Q4, driven mainly by Tesla’s recent capital raise of $5 billion and free cash flow of $1.9 billion.
- The Fremont factory will resume production of Model S and X in Q1 after retooling for new versions of both EVs.
- Tesla’s Model S will come in February with the new X due to a “little bit later.”
- CEO Elon Musk reported that Tesla’s cybertruck slipped a bit, and the company will make electric vans at some point amidst challenges of battery cell production.
- Tesla’s stock fall occurs after it soared more than 700% in 2020, only to show signs of a climax run on January 8 this year and proceeding to hit a new all-time high of 900.40 on January 25.
Tesla stock is currently declining. TSLA: NASDAQ is down 5.23% on the premarket.
