Tesla Beats Q4 Sales Estimates, Global Orders Up 49%

Tesla Inc TSLA released its fourth quarter earnings after the close on Wednesday. Shares were up nearly 3 percent, reversing losses in the regular session, following a sales beat despite missing on earnings.

  • Tesla reported Q4 ADJ $(0.69), missing estimates by $0.26
  • Sales came in at $2.28B, beating by $100 million
  • Tesla sees 1H’17 deliveries of 47,000-50,000 for the Model S and X combined
  • Q4 saw global net orders increase of 49 percent year over year for the Model S and X combined

Related Link: Elon Musk's Wildest Predictions

“We are excited about 2017, as we expect to see significant advances across our transport, energy generation and storage product lines. Most notably, the Model 3 and solar roof launches are on track for the second half of the year. However, since even a couple week shift in timing could have a meaningful impact on total deliveries and installs, we are focusing our guidance on the first half of the year,” said CEO Elon Musk.

“We expect to invest between $2 billion and $2.5 billion in capital expenditures ahead of the start of Model 3 production. We continue to focus on capital efficiency while also investing in battery cell, pack and energy storage production at Gigafactory 1. Tesla continues to execute against its mission of accelerating the world’s transition to sustainable energy, and we look forward to hitting the 2017 milestones that are critical to our long-term plan.”

Tesla's stock traded recently at $277.79, up about 1.6 percent after hours.

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Posted In: EarningsNewsGuidanceAfter-Hours CenterMoversElon MuskGigafactory
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