Elon Drops BOMBSHELLS On Tesla Q3 Earnings Call | Summary and Q&A

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October 18, 2023
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Solving The Money Problem
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Elon Drops BOMBSHELLS On Tesla Q3 Earnings Call

TL;DR

Tesla reported strong profitability with a 7.6% operating margin, $1.8 billion in operating income, and $2.3 billion in non-gap net income in Q3 2023. The company also saw significant growth in cash flow, energy storage deployments, and AI training compute.

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Key Insights

  • πŸ’ͺ Tesla's profitability and operating margin in Q3 2023 remained strong, positioning the company among the industry leaders.
  • πŸ‡¨πŸ‡· The company's focus on cost reductions is evident, with a decrease in cost of goods sold per vehicle and improvements in production efficiency.
  • πŸ’» Tesla's investments in AI training compute and energy storage demonstrate its commitment to innovation and future growth.
  • πŸ’ The increase in cash flow and cash reserves provides Tesla with a competitive advantage amid economic uncertainties and the shift to electric vehicles.
  • 🌱 The Cybertruck ramp and Tesla's expansion plans in Berlin, Austin, and Mexico are expected to drive future volume production and revenue growth.
  • πŸ•β€πŸ¦Ί The energy and services segment is becoming a significant contributor to Tesla's profitability, showcasing the company's diversification strategy.
  • πŸš™ Tesla's market share in major regions has experienced substantial growth, indicating increasing consumer demand and acceptance of electric vehicles.

Questions & Answers

Q: What were Tesla's earnings and profitability in Q3 2023?

Tesla reported a 7.6% operating margin, $1.8 billion in operating income, and $2.3 billion in non-gap net income in Q3 2023.

Q: How much cash flow and free cash flow did Tesla generate in Q3 2023?

Tesla had $3.3 billion in cash flow and $800 million in free cash flow in Q3 2023.

Q: What were some highlights of Tesla's performance in Q3 2023?

Tesla deployed 4 GWh of energy storage, doubled its AI training compute capacity, and reduced the cost of goods sold per vehicle to $37,500.

Q: How much cash and cash equivalents does Tesla have?

Tesla has $3 billion in cash and cash equivalents, bringing its total war chest to $26.1 billion.

Summary & Key Takeaways

  • Tesla achieved a 7.6% operating margin in Q3 and reported $1.8 billion in operating income.

  • The company had $3.3 billion in cash flow, $800 million in free cash flow, and $3 billion in cash and cash equivalents.

  • Tesla doubled its AI training compute capacity, deployed 4 GWh of energy storage, and reduced cost of goods sold per vehicle to $37,500.

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