Elon Musk appeared to soften his previous tone regarding tapping fresh capital on Tesla’s third-quarter earnings conference call Wednesday evening. “We do not intend to raise equity or debt, at least that is not our intention right now,” the CEO said in response to a question from Morgan Stanley analyst Adam Jonas. “That may change in the future, but the current operating plan is to pay off our debts and not to refinance them, but to pay them off and reduce the debt load and overall leverage of the company.” While not a total reversal of course, it is a striking difference to his comments earlier this year, when he said “I specifically don’t want to” in regards to a cash infusion. Tesla’s free cash flow increased to $US881 million in the third quarter, with net income hitting $US312 million, it reported Wednesday. That’s despite repaying $US82.5 million worth of loans, and the company says it expects the trend to “remain … [Read more...] about Elon Musk says Tesla’s plan to not raise more cash ‘may change’
Tesla
Tesla may not need to raise capital soon: analysts
(Reuters) - Tesla Inc’s (TSLA.O) blockbuster quarterly results and ability to generate free cash-flow wowed Wall Street on Thursday, with several analysts saying the electric carmaker may not need to raise capital soon to boost Model 3 production. A 2018 Tesla Model 3 electric vehicle is shown in this photo illustration taken in Solana Beach, California, U.S., June 1, 2018. Picture taken June 1, 2018. REUTERS/Mike Blake The company’s shares rose 12 percent to $322.89 in premarket trading, putting the stock on track to add $6 billion to its market value. The stock has been volatile in the past few months - it hit a record in August when Chief Executive Officer Elon Musk tweeted plans for taking the company private but slumped after he called off his bid weeks later. Tesla reported free cash flow of $881 million in the quarter - the first time since the third quarter of fiscal 2016 - and Musk said the company will maintain that in the coming quarters. Musk has … [Read more...] about Tesla may not need to raise capital soon: analysts
Tesla is set for huge gains after crushing earnings (TSLA)
Jonathan Garber, provided by Published 6:50 am CDT, Thursday, October 25, 2018 Reuters/Noah Berger Tesla reported a surprise third-quarter profit on Wednesday. The electric-car maker said the Model 3 sedan was the "best-selling car in the US in terms of revenue." Tesla shares were up more than 10% ahead of Thursday's opening bell. Watch Tesla trade live here. Tesla was flying ahead of Thursday's opening bell after reporting third-quarter results that blew past Wall Street estimates in what the company described as a "truly historic" quarter. Shares of the electric-car maker were up more than 10%, trading at their highest level in about two months. After Wednesday's close, Tesla reported adjusted earnings of $2.90 a share on revenue of $6.8 billion, better than the $0.15-a-share loss and $6.3 billion that analysts surveyed by Bloomberg were expecting. "Q3 2018 was a truly historic quarter for Tesla," the company said in a press release. "Model 3 was the best-selling … [Read more...] about Tesla is set for huge gains after crushing earnings (TSLA)
‘Tesla may have crossed the line to become self-funding’: Here’s what Wall Street is saying about Tesla’s surprise profit
Tesla on Wednesday posted a surprise third-quarter profit thanks to strong revenue generated by its Model 3 sedan. The electric-car maker earned $US2.90 a share, well above the $US0.15 loss per share expected by Wall Street analysts. It generated $US6.8 billion in sales, beating the $US6.3 billion that was anticipated. The Model 3 sedan was a huge driver for the quarter. “Q3 2018 was a truly historic quarter for Tesla,”the company said in a press release. “Model 3 was the best-selling car in the US in terms of revenue and the 5th best-selling car in terms of volume.” The high price of Model 3 helped increase Tesla’s gross automotive margin, which resulted in an $US881 million free cash flow and $US3 billion cash in total for the quarter, the electric-auto maker said. Tesla admitted that its Model 3 weekly average production fell short of its target. Nearly every analyst was impressed by Tesla’s ability to generate a profit. But they have mixed … [Read more...] about ‘Tesla may have crossed the line to become self-funding’: Here’s what Wall Street is saying about Tesla’s surprise profit
Tesla is set for huge gains after crushing earnings
Tesla reported a surprise third-quarter profit on Wednesday. The electric-car maker said the Model 3 sedan was the “best-selling car in the US in terms of revenue.” Tesla shares were up more than 10% ahead of Thursday’s opening bell. Watch Tesla trade live here. Tesla was flying ahead of Thursday’s opening bell after reporting third-quarter results that blew past Wall Street estimates in what the company described as a “truly historic” quarter. Shares of the electric-car maker were up more than 10%, trading at their highest level in about two months. After Wednesday’s close, Tesla reported adjusted earnings of $US2.90 a share on revenue of $US6.8 billion, better than the $US0.15-a-share loss and $US6.3 billion that analysts surveyed by Bloomberg were expecting. “Q3 2018 was a truly historic quarter for Tesla,” the company said in a press release. “Model 3 was the best-selling car in the US in terms of revenue and the … [Read more...] about Tesla is set for huge gains after crushing earnings