Connect with us

Published

on

Tesla (TSLA) is about to release Q3 2023 financial results on Wednesday, October 18, after the markets close. As usual, a conference call and Q&A with Tesla’s management are scheduled after the results.

Here, we’ll take a look at what both the street and retail investors are expecting for the quarterly results.

Tesla Q3 2023 deliveries

As usual, Tesla already disclosed its Q3 vehicle delivery and production numbers, which drive the vast majority of the company’s revenue.

Earlier this month, Tesla confirmed that it delivered just over 435,000 electric vehicles during the third quarter of the year.

It’s the first time in a long time that Tesla didn’t break a delivery record.

Tesla also produced fewer vehicles at just over 430,000 units.

The automaker had warned about a lower quarter in terms of deliveries and production due to planned factory shutdowns for upgrades.

Delivery and production numbers are always slightly adjusted during earning results.

Tesla Q3 2023 revenue

For revenue, analysts generally have a pretty good idea of what to expect, thanks to the delivery numbers.

However, this year has been more difficult due to constant price cuts – making it harder to track Tesla’s revenue.

The Wall Street consensus for this quarter is $24.256 billion, and Estimize, the financial estimate crowdsourcing website, predicts a higher revenue of $24.420 billion.

Unsurprisingly, this would be significantly down from the nearly $25 billion in revenue Tesla delivered last quarter, but it is still a massive year-over-year increase from the $21.5 billion Tesla delivered during the same quarter last year.

Here are the predictions for Tesla’s revenue over the past two years, with Estimize predictions in blue, Wall Street consensus in gray, and actual results are in green:

Tesla Q3 2023 earnings

Tesla always attempts to be marginally profitable every quarter as it invests most of its money into growth, and it has been successful in doing so over the last two years now.

However, like revenues, it has been harder to estimate earnings this year with price cuts digging into Tesla’s industry-leading gross margins.

For Q3 2023, the Wall Street consensus is a gain of $0.73 per share, while Estimize’s prediction is higher with a profit of $0.78 per share.

But as you can see below, the range of Wall Street is quite broad as analysts are unsure what to expect.

Here are the earnings per share over the last two years, where Estimize predictions are in blue, Wall Street consensus is in gray, and actual results are in green:

Other expectations for the TSLA shareholder’s letter and analyst call

Amid declining prices to keep demand up, most shareholders are mostly concerned about Tesla’s ability to retain a high gross margin despite the lower prices.

It’s likely that Tesla will try to reassure shareholders on that front on Wednesday.

There’s been a growing effort among shareholders to convince Tesla to invest in advertising rather than cut prices. We have seen Tesla dip its toes in that lately. It would be interesting to see if Tesla can release some results of that effort and discuss the potential for a ramp-up.

During the conference call following the release of its earning results, Tesla takes crowdsourced questions from shareholders. Here are the top-voted ones right that are likely to be answered by management:

  • How many Cybertruck deliveries do you anticipate for 2024?
  • Can you provide a progress update on the 4680 Cell. Particularly progress towards performance improvements and cost savings outlined on battery day. Thank you!
  • When do you expect Model 3 Highland to be available in the US?
  • Could you please provide an update on (i) capacity expansion plans for the company’s factories in Berlin and Austin and (ii) the opening schedule of Gigafactory Mexico?
  • Why was the price dropped on FSD if it is getting better and robotaxi is expected so soon?

In general, between the price drop and the lower deliveries, it should be a fairly top quarter for Tesla. However, the automaker has also lowered inventory during the quarter, which could make things more interesting.

We will see.

You can join us live on Electrek on Wednesday evening for intensive coverage of Tesla’s Q3 2023 financial results starting at around 4 p.m. ET for the results and through the evening for news coming out of the conference call and results.

Continue Reading

Environment

There’s a brewing risk to the stock market rally — and it’s not the flare-up in China trade tensions

Published

on

By

There's a brewing risk to the stock market rally — and it's not the flare-up in China trade tensions

Continue Reading

Environment

Clear skies ahead – Delta partners with Maeve on M80 hybrid regional aircraft

Published

on

By

Clear skies ahead – Delta partners with Maeve on M80 hybrid regional aircraft

Delta Air Lines is teaming up with Dutch aviation startup Maeve Aerospace to take its idea for a more advanced, fuel-sipping hybrid-electric aircraft powertrain from the drawing board and into regional commercial service.

Delta Air Lines announced a new partnership with Maeve Aerospace meant to accelerate certification and deployment of the startup’s next-generation hybrid-electric regional aircraft – a move that could reduce the company’s fuel consumption on those routes by up to 40% compared to ICE-only assets.

“Delta is proud to collaborate with Maeve to help shape the next chapter of regional aviation and accelerate progress toward a more sustainable future of flight,” said Kristen Bojko, Vice President of Fleet at Delta Air Lines. “As we work toward the next generation of aircraft, we look to partners like Maeve who embody the bold, forward-thinking innovation we champion at Delta – solutions that advance aircraft design, enhance operational efficiency, elevate employee and customer experiences, and cut emissions. While driving toward transformative technologies that strengthen our network and redefine regional air travel remains a key priority, we’re equally focused on safety and a more sustainable future of flight.”

The collaboration positions Delta among a growing list of carriers investing in lower-carbon emission aviation tech as regulators, passengers, and activist investors alike push for cleaner operations.

Advertisement – scroll for more content

Maeve M80 hybrid


M80 hybrid-electric regional aircraft; via Maeve.

Maeve introduced its M80 hybrid-electric, 80-seater aircraft in November of 2023 as a sustainable, cost-effective aircraft designed to satisfy the operational needs of the majority of regional operators and airports.

As designed, the M80 promises an operating range of more than 900 miles (~1,500 km) with 40% higher fuel efficiency than conventional aircraft. Similar in concept to the way Toyota’s Prius uses its electric motors to accelerate and cruises on a small ICE engine, the Maeve’s hybrid engine architecture provides additional electric power assistance at low altitude, high-drag flight.

The M80’s electric motors can also be used during taxiing operations on the ground to reduce surface-level carbon emissions while also supporting a more efficient integration of more electric aircraft systems. Two facets of the aircraft’s designs that are specifically called out by Delta’s press material as being of extreme interest to the commercial carrier.

“It’s a privilege to have Delta as a partner in the development of groundbreaking technologies and processes,” shared Martin Nuesseler, Chief Technology Officer at Maeve Aerospace. “Their expertise in fleet innovation and commitment to aviation sustainability is unmatched, and we’re proud to work together to tailor the MAEVE Jet for the US market.”

SOURCE | IMAGES: Delta.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Hear me out: instead of faster chargers, we should lobby for SLOWER gas pumps

Published

on

By

Hear me out: instead of faster chargers, we should lobby for SLOWER gas pumps

Utilities, state governments, and private developers are racing to roll out faster, more powerful EV chargers. At the same time, automakers and tech giants across the globe are pouring billions into R&D to develop batteries that can take ever-higher levels of power. But what if there’s a better, easier, cheaper, and more effective way to cut emissions?

What if, instead of faster chargers, we pushed for SLOWER gas pumps?

I want to start this conversation by pointing out that there’s a precedent for this idea. Back in 1993, the Environmental Protection Agency (EPA) finalized a rule that limited the rate that gas service stations could pump fuel to a maximum of 10 gallons per minute (gpm), with the stated goals of reducing evaporative emissions and promoting safety by ensuring the integrity of the nation’s refueling infrastructure.

Officially dubbed “61 FR 33033 – Regulation of Fuels and Fuel Additives: Controls Applicable to Gasoline Retailers and Wholesale Purchaser-Consumers; 10 Gallon Per Minute Fuel Dispensing Limit Requirement Implementation,” the rule was finalized in January of 1993 and went into effect in 1996. Now, almost thirty years later, I think it’s time to revisit 61 FR 33033 in a way that helps reduce emissions even more.

Advertisement – scroll for more content

To zero.

The pitch


Gavin Newsom high-fives JB Pritzker; by ChatGPT.

The basic idea is this: instead of “just” asking for utility rate-payers and State or local governments to help cover the costs of rolling out an increasingly huge EV charging infrastructure that will never be big enough to convince the red hats it’s ready, anyway, we focus our lobbying efforts on slower gas pumps in blue states. Like, significantly slower gas pumps.

By reducing the maximum pumping speed from 10 gpm to 3 gpm, we could increase the minimum time to fill up a half-ton Ford F-150’s 36 gallon fuel tank (yes, really) from under four minutes to nearly twelve (12). Factor in the longer wait times ICE-vehicles would have to endure waiting in line to refuel, as well, and we’re talking about a 20-30 minute turnaround time to go from just 10% to a usable 80-or-90% fill.

Y’all see where I’m going with this?

Everybody wins


EV charging, via BP Pulse.

Way back in 2022, oil giant BP claimed that its BP Pulse electric vehicle chargers were “on the cusp” of being more profitable than its gas pumps. Now, three years and several technological leaps since, BP is investing billions to expand its EV charging infrastructure – and it doesn’t take a genius to realize that they’re expecting a positive ROI.

You don’t have to take my word for that, though. You can take big oil’s. “If I think about a tank of fuel versus a fast charge, we are nearing a place where the business fundamentals on the fast charge are better than they are on the (fossil) fuel,” BP head of customers and products, Emma Delaney, told Reuters.

Those fundamentals revolve around amenities. If you’re popping into a gas station for a three or four minute visit, you’re probably getting in and out as fast as you can. But if you’re there a bit longer? That’s a different story. You might visit the rest room, might buy a snack or order a coffee or suddenly remember you were supposed to pick up milk on your way home, even – and that stuff has a much higher margin for the gas station than the dino-juice, totaling 61.4% of all fuel station profits despite being a fraction of the overall revenue.

The other big winner, of course, is literally everyone. The forgotten costs of fossil fuels cost Americans billions in healthcare bills and environmental clean up each year, and untold trillions of dollars of military spending (to say nothing of the toll on three generations of American blood spilled in the Middle East to secure an affordable supply of oil).

With this plan, ICE-holes and Hemi zealots can continue to have their gas (if they decide it’s worth the wait, so be it). Meanwhile, the well-adjusted normals figure out real quick that it’s better, cheaper, and easier to charge at home.

The rest will take care of itself.

What do you guys think? Does this low-cost, high-impact idea to cut the time delta between refueling your gas car and recharging your EV have legs? What concerns do we need to address before we take it to Gavin and JB? Let us know, in the comments!

Original content from Electrek; featured image by Wikimedia user Coolcaesar, under the Creative Commons Attribution-Share Alike 3.0 Unported license.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending