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Q3 Earnings Call (update: link to shareholder letter)

Q3 Earnings Call (update: link to shareholder letter)

Today, 2:30pm PT - this page should have the link so you can listen in: http://ir.teslamotors.com/eventdetail.cfm?EventID=151746

NomoDinos | 5 novembre 2014

Thanks Omar! Hopefully Sam will be available to provide his usual superhuman typing skills for those not able to listen along ;)

Captain_Zap | 5 novembre 2014

SamO is an amazing guy with many talents!

mrdaniel | 5 novembre 2014

Bloomberg is all over discussing this today. http://www.bloomberg.com/tv/

Mike83 | 5 novembre 2014

The shorts need to cover and I bet we get a drop after hours. I am ready to add to my position if that is the case.

tes-s | 5 novembre 2014

Could be good: good production Q3, will exceed guidance of 35,000 deliveries in 2014, MX to start shipping Q1.

Could be bad: MX delayed, lowered guidance for 2014, did not get bump in MS demand expected with AWD.

The market seems to think so as well - expecting an 8%+ move in one direction or the other.

We will know soon!

Red Sage ca us | 5 novembre 2014

I expect those who are shorting to $215 or lower will be disappointed yet again, and will be forced to buy... again.

Mike83 | 5 novembre 2014

Wow. Missed the buy in, too fast for my trading. Now at 241, was at 218 and I missed it this time.
But happy I held my long term shares.

ColonyGolfer | 5 novembre 2014

Sales 932 mil vs 889 projected. EPS .02c/share vs projected loss of .01c. per "The Street"

Captain_Zap | 5 novembre 2014

@Mike83

That is why I was holding options. I didn't want to miss a buy opportunity to add to my holdings.

Bighorn | 5 novembre 2014

Shareholder letter out.

Captain_Zap | 5 novembre 2014

It is slow to load. It's long too so the call probably will be a little delayed.

Captain_Zap | 5 novembre 2014

First Gigafactory cells look like they will be early!

nickjhowe | 5 novembre 2014

Interesting snippet from the Shareholder letter:

"One of the significant actions we intend to take in order to reduce manufacturing complexity is to simplify our product offering by reducing the number of options and powertrain combinations. This will enhance our ability to scale production in 2015."

Get your orders in quick to ensure you get exactly what you want...

carlk | 5 novembre 2014

Congrats C_Z. I was thinking about doing that but decided not to because I'm already holding enough shares. People been hanging around here recently should get the sense that a lot people are buying the dual motor models.

nickjhowe | 5 novembre 2014

Also on the Gigafactory:

"Togetherwith Panasonic we are making good progress toward first cell production in 2016, slightly earlier than originally scheduled. "

omarsultan.ca.us | 5 novembre 2014
omarsultan.ca.us | 5 novembre 2014

• Highest ever quarterly deliveries at 7,785 vehicles, despite factory shutdown in July
• Highest ever peak deliveries in a single day of 907 vehicles
• Majority of Q3 deliveries in North America; 65% increase in NA Sept 14/Sept 13
• Dual Motor and Autopilot introductions further accelerate Model S demand
• Model S orders and deliveries alone expected to increase by 50% in 2015
• Reducing number of Model S options to ramp production faster

Captain_Zap | 5 novembre 2014

I love the last line. "2015 should be another exciting year for Tesla, with accelerating revenue growth and expanding margins."

Captain_Zap | 5 novembre 2014

More production capacity in and Gigafactory acceleration! Sounds like they want to get the Gen 3 car(s) out ASAP.

"We plan to spend about $350 million in capital expenditures in Q4 as we continue to invest in even more production capacity,
accelerate the pace of Gigafactory construction, and continue vehicle development and our global expansion."

omarsultan.ca.us | 5 novembre 2014

Agreed, especially since they note they expect to see first cells from the GF in 2016...

Model ☰ | 5 novembre 2014

Reducing drive-train options? Do they plan to drop RWD Model S?

Model ☰ | 5 novembre 2014

More production capacity in and Gigafactory acceleration! Sounds like they want to get the Gen 3 car(s) out ASAP.

I hope so! Pretty please - let me get my Model 3 in 2016! :D

Bighorn | 5 novembre 2014

I think they're rushing out P85D to beta test for the X's dual motor set-up. That and the superior margins.

omarsultan.ca.us | 5 novembre 2014

I was thinking they might do that - its only a $4K option for non-P. It might be worth it for the benefits of supply chain and manufacturing simplicity.

O

Captain_Zap | 5 novembre 2014

I thought China was being underestimated.

"Our recently opened Shenzhen location in China is already one
of our highest grossing stores worldwide."

tes-s | 5 novembre 2014

On a previous call, didn't they say the US wait times had increased because they were balancing the wait times across all markets? Since the majority of cars being delivered in Q3 and Q4 are North America, is this a change to give priority to NA, or is that reflective of orders - majority of orders coming from the US?

omarsultan.ca.us | 5 novembre 2014

My guess would be they did this to increase chances they could hit their Q3 number. The traditional US/RoW mix would have likely have been detrimental to hitting the Q3 delivery number.

Mike83 | 5 novembre 2014

Captain_Zap I used to do options but now prefer to write calls on my other stocks; not TSLA though, don't want to lose the shares. I already have a large position and will just hold for a very long time.
China is very exciting. What amazes me is how they got all these different markets going and then ramping up production to meet demand in the areas needed; so clever. Gigabucks. Love it.

tes-s | 5 novembre 2014

+1 @omar. I think they are delivering heavily in the US for that reason, and in case there are any issues with the new hardware changes - easier to manage. Backlog building for international.

Captain_Zap | 5 novembre 2014

@Mike83

That is exactly why I won't write calls. I don't want to lose them. I don't waste money on protection either. Tesla is amazing at long term planning. The timing might be off a little, but they come through. Sometimes a tad late, sometimes a tad early.

Captain_Zap | 5 novembre 2014

+2 Omar

tes-s | 5 novembre 2014

Did they say them made 7200 in the quarter, and sold 7785?

Must have reduced international in-transit vehicles, and sold every loaner and demo vehicle they had!

nickjhowe | 5 novembre 2014

@tes-s - yes, that's what Elon said.

negarholger | 5 novembre 2014

"sold every loaner" - I was next day in service and they had at least 2 loaners on site at noon.

Benz | 5 novembre 2014

"Model X production of 2015 is basically sold out"

Bighorn | 5 novembre 2014

Hi Andrea

tes-s | 5 novembre 2014

Can't answer how many they are making a week??

nickjhowe | 5 novembre 2014

Elon's pet peeve - they'd reduced the size of the sticker on the visors. LOL

tes-s | 5 novembre 2014

No more 60D or P85. No green or brown!

Red Sage ca us | 5 novembre 2014

This seems to be a good point and place to admit I was wrong.
No one (ouside of Tesla Motors) will get a Model X before Christmas 2014.

Benz | 5 novembre 2014

After Hours: TSLA $247.00 = + 16.03 (6.94%)

rdalcanto | 5 novembre 2014

Model X delayed another 6 months. First deliveries now starting Q3 2015, which means with my reservation number in the 3,000s, I'm looking at delivery a year from now if I'm lucky....

SamO | 5 novembre 2014

@NoMoDinos,

Sorry I couldn't make the call today. Work and stuff . . . fingers busy with other stuff. :-(

@CaptZap,

+1 and back at you! Still dreaming of our P85D test rides ;-)

Red Sage ca us | 5 novembre 2014

Just because deliveries will begin in Quarter 3 2015 doesn't mean production won't begin in Quarter 2 2015...

NomoDinos | 5 novembre 2014

SamO - haha, your digits more than deserve a respite from the task. Since you're in my area, let me know if you want a test Drive in late December ;)

portia | 5 novembre 2014

Elon mentioned that European prices are going up, so those in EU should order now/soon.

SamO | 5 novembre 2014

@NoMo,

Sold!!!

Weren't we supposed to meet for drinks?

Nothing like 691 hp mixed with intoxicants ;-p

NomoDinos | 5 novembre 2014

SamO - sweet! We'll be the first idiots to be inebriated while driving an electric supercar, crash into the Pasadena Tesla store at 120 mph and stagger out unscathed :)

SamO | 5 novembre 2014

And we'll totally get away with it since nobody knows. Shhhhhhh.

Lol.

Mathew98 | 6 novembre 2014

Guys, don't get carried away. Then there this place will become NoMoSamO.

;)

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