Tesla Reports $312 Million Profit On The Back Of Model 3 Deliveries

Now what are the haters going to say?

this one time at bandcamp... tesla made profit :)
I do hope they can sustain it and push the likes of VW and Toyota towards EV's.
there are 3 new model3's in my neighborhood, two white and one grey, all 3 were switchover from prius's.

I just dropped off my P3 today for a quick check of the front drive system due to an error message - SC found nothing wrong with it - and I will reunite with it soon later today.

In the meantime, I got a rental Elantra. My oh my, what a piece of crap the car is. It has barely over 10K miles but drives like a 30 year old Corolla. The engine sounds clunky and tries to catch its breath until past 5000 rpm in order to get on the expressway. This car is simply too dangerous to drive. It is the same one I recommended to my niece over a year ago after driving it for a week prior.

It's amazing how the Model 3 ruins it for everyone else. Once you get to drive it, everything else seems like a museum piece. Soon hundreds of thousands happy new owners will find the same. There is no turning back.

I'm in - WHEN

They manufacture a Prestige EV (Not a Mass market Tesla) - with an extended wheelbase - that has at least a 400 mile range between charges - that has available Just as many charging stations as there are currently gas pumps - and the recharge takes about the same amount of time as filling a car's gas tank. ICE vehicles have had those things for decades - and it will be decades until the EV can come close to that.

Until then - the ICE car still has major advantages for me - and the EVs are severely limited in comparison.

Well, you have a freaking Maybach... your luxury expectations are probably sky high =) The real next gen Model S will almost definitely be larger/longer and have 400+ miles of range, ~2021 ETA.

You should also check out what Lucid Motors is doing. That is a true luxury EV (not premium) with good range and an insane interior that might be close to Maybach.

Just wait....they'll be here shortly....

Kudos to Tesla...about time. Curious to see if they can keep it up once they go through their pre-order list.

The last (and only other) time Tesla reported a quarterly profit, the SEC cited them for "creative" accounting practices.

Tesla is in a difficult financial position. They're running out of cash, yet again, and they need to raise more to keep the lights on. They do this through loans, junk bond issue, and tapping capital markets. And so, in such a position, Tesla is becoming ever more creative in attempting to convince creditors and investors that they're still viable.

Remember those huge parking lots of unshipped Teslas from drone shots, followed by a sudden, stellar blip in Tesla registrations that "broke all previous records"? Well duh! If you delay shipments, and then release them all at once to create that blip, then unwary "news consumers" will perceive that as a sign of Tesla doing amazing things with incredible production numbers... while missing the fact that is was staged, that it doesn't reflect actual production, and it's not sustainable.

Tesla is in a precarious position. It is literally just barely surviving, quarter to quarter. A paper profit does not change that that fact, though it does excite the Tesla Faithful, who, in a frenzy, scoop up some TSLA shares and temporarily drive the stock price up.

Stay tuned over the next few quarters to see how Tesla comes up with their much needed cash.

Place your bets, gentlemen! Is this the Tesla Turning Point, and they'll remain in the black, moving forward? Or is this just another contrived blip to woo lenders and investors to dump more money into TSLA?

They just increased their cash position by $700 million, that's a good start.

if you check the inventory in the filing, inventory cars went up. There was no stock up and dump situation for Q3.

Bankwuptcy coming soon, according to old Lutz.

Bueller, Bueller, Haters?

Is the Autospies headline accurate...

"Tesla Reports $312 Million Profit On The Back Of Model 3 Deliveries"

Perhaps it should be reworded to state the following...

"Tesla Reports $312 Million Profit On The Back Of Virtually Enslaved, Non-Union Workers, gluing Model 3's together in the parking lot."

There we go. After 1,000s of Tesla is going bankrupt and they lose money on every car comments, is this going to be the new tagline? The irony of saying this related to a US company that is creating American manufacturing jobs while other manufacturers are laying people off.

Manufacturing employees just got a round of raises along with more opportunities for stock option rewards. Also, the safety rating is now better than the GM/Toyota plant that preceded it. Where is that in the news?

Tesla laid off people too, 9% of the Motors division, 20% of Energy (Solar City). They used "volunteers" (aka scabs) to deliver cars. Anything in the name of profit, right?

They laid off people that were not performing, as all companies should. They have more open positions today than the sum of everyone laid off. The cost savings from the layoffs if you look at the financial statements were almost nothing, they were offset by new hires and raises.

I'm sure you wish that was true.

Tesla. $312M Profitable All-American know-how with American sweat and brainpower. SPorting Industry-leading range and efficiency technology and Made with Military-grade electronics. A+, Elon. Well done.

SanJoseDriver ask >>> Now what are the haters going to say?

Easy Answer >>> This is smoke and mirrors. Did you see Elon on TV with the smoke !!!

Good to see Tesla doing better. They have shown the way, I hope the others follow. I still want some ICE options for sports cars and Raptor pickup trucks, but most mainstream cars/trucks should be electrified over the next 5-10 years.

I have to laugh when those "revenues" include $52 million in ZEV credits, which is way down from previous quarters and going down every day, but still a fraud to call those funds "revenues." I also have to laugh at the stupidity of many investrs who were focused on the mostly irrelevant Tesla blunders , especially their failed "all automated production line." The issue of importance is that Tesla is in the twilight of their tax credit/monopolistic lifespan. Everything that Tesla fans have been touting is falling apart. The phony "Tesla leading EV technology" is no more - driving ranges of oncoming competitors are superior or at a minimum, equal to Tesla's hgher priced vehicles. Tesla's Superchargers aren't very super these days, when the worldwide standard SAE/Combo CCS charging protocol will be used by 98% of electric car models and is more than twice as fast as the Superchargers and will be located on every streetcorner, as opposed to the sparsely located Superchargers, located "within 150 miles of most Americans" (LOL). The Tesla Model X has just achieved the unwelcome pick as Consumer Reports most unreliable car on the planet. And the Model S as below average. Every review of the Jaguar I Pace has selected it as clearly superior in every way to the unreliable Model X and, with tax credit issues, probably close to $17,000 cheaper in the U.S. Tesla's subpar Model S will be soundly trounced by the Porsche Taycan, which can recharge its batteries more than twice as fast and at many more locations in the not very distant future, as European automaker consortium IONITY, oil companies and charging companies are
all engaged in a fast paced buildout of the SAE/Combo CCS charging network. Tesla simply cannot compete against the professional automakers - they are amateurs run by an eccentric who probably should be in prison for stock manipulation.

ZEV credits last quarter were $0. Even at $52 million, this is an insignificant amount for a company that is now bringing in $28 BILLION annually at the current run rate.

Net margin about 5%, not spectacular but on par with some in the industry, free cash flow is healthy, but current ratio is ugly enough and indicating they're still heavily indebted, but investors can probably rays of light now. I hope they can keep it up.

At the rate they are growing, any net margin is extremely helpful and too much means they are not investing enough on ramping capacity.