Point Roberts WA, Delta BC, January 31, 2020 –
Investorideas.com, a global news source and leading investor resource covering
cleantech and renewable energy stocks issues today’s edition of the Cleantech and Climate Change Podcast, talking about today's problems and solutions for the future.
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Read this in full at https://www.investorideas.com/news/2020/cleantech-climatechange/01311TSLA-ModelY.asp
Transcript/overview
Today we’re looking at how electric car maker Tesla
(NASDAQ:TSLA) charged up investors with their
financial results for the fourth quarter and full year ending December 31, 2019.
Tesla shares closed yesterday, January 30th at $640.81+ $59.82 or
(+10.30%) on over 29 million shares and showed continued gains in the
aftermarket.
Highlights:
Cash
·
$930M increase in our cash and cash equivalents in
Q4 to $6.3B
·
$1.0B operating cash flow less capex ("free
cash flow") in Q4
Profitability
·
$359M GAAP operating income; 4.9% operating margin
in Q4
·
$105M GAAP net income; $386M non-GAAP net income
(ex-SBC) in Q4
Operations
·
Model Y production ramp started in January 2020,
ahead of schedule
·
Increased Model Y all-wheel drive EPA range to 315
miles from 280 miles
·
Record vehicle deliveries of 112,095 in Q4
·
Record Q4 storage deployment of 530 MWh; 26% solar
growth QoQ
Summary from
their report:
“2019 was a turning point for Tesla. We
demonstrated strong organic demand for Model 3, returned to GAAP profitability
in 2H19 and generated $1.1B of free cash flow for the year. We achieved strong
cash generation through persistent cost control across the business.
Our pace of execution has also improved
significantly, as we have incorporated many learnings from our experience
launching Model 3 in the United States. As a result, we were able to start
Model 3 production in Gigafactory Shanghai in less than 10 months from breaking
ground and have already begun the production ramp for Model Y in Fremont. None
of this would be possible without strong demand for our products. For most of
2019, nearly all orders came from new buyers that did not hold a prior reservation,
demonstrating significant reach beyond those who showed early interest.
Amazingly, this was accomplished without any spend on advertising. As more
people drive our cars and as the industry rapidly validates electrification,
interest in our products will continue to grow. Higher volumes driven by Model
Y and Gigafactory Shanghai, continued improvements in operating leverage, and
further cost efficiencies should allow Tesla to ultimately reach an
industry-leading operating margin.”
Image -‘Tesla Model
S’
Looking at their
energy storage, they reported:
“Energy Business Energy storage deployment reached
an all-time high of 530 MWh in Q4, which included the first deployments of
Megapack, our new commercialscale 3 MWh integrated storage system that is
preassembled at Gigafactory Nevada as a single unit. Since the introduction of
this product, the level of interest and orders from various global project
developers and utilities has surpassed our expectations.
In 2019, we deployed 1.65 GWh of energy storage,
more than we deployed in all prior years combined.
In Q4, we deployed 54 MW of solar, 26% more than in
the prior quarter. Where offered, subscription solar has grown significantly in
Q4. With a monthly subscription that can generate income from the first month
of usage, there is no reason not to have solar panels installed.”
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Thanks, that’s it for today. Do something good for this beautiful planet
each and every day.
Podcast host: Dawn Van Zant
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