BIG Surprises on Tesla Earnings Call 2018 Q4

Elon surprised everyone with some announcements on the Tesla 2018 Q4 earnings call. Here are my takeaways. Check out my interactive Tesla Financials dashboard here https://teslanomics.co/tesla-financials

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// Tesla Fourth Quarter & Full Year 2018 Update

– Q4 operating income stable compared to
Q3 at $414M, operating margin of 5.7%

– Operating cash flow less capex improved from Q3 to $910M in Q4

– Cash and cash equivalents of $3.7B at Q4-end, increased by $718M in Q4

– Q4 GAAP net income of $139M impacted by $54M non-cash charge

Model 3 GAAP and non-GAAP gross margin remained stable at 20% in Q4

Last year was the most pivotal year in Tesla’s history. During our Model 3 production ramp, we went through significant challenges with the battery module line at Gigafactory 1 in Nevada, and later with our general assembly line in Fremont. Thanks to the hard work and ingenuity of our manufacturing teams, by mid-2018
we successfully overcame these challenges and stabilized Model 3 production at high volumes. Model 3 then went on to become the best-selling passenger car in the US in terms of revenue in both Q3 and Q4. With nearly 140,000 units sold, Model 3
was also the best-selling premium vehicle (including SUVs) in the US for 2018 – the first time in decades an American carmaker has been able to secure the top spot.

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