logo
Share SHARE
FONT-SIZE Plus   Neg

Tesla Motors Q3 Loss Widens - Quick Facts

Tesla Motors, Inc. (TSLA) released its third quarter 2012 financial results. Net loss widened to $110.80 million from $65.08 million last year. Net loss per share was $1.05 compared to a loss of $0.63 prior year. Total revenues decreased to $50.10 million from $57.67 million last year.

Adjusted net loss per share was $0.92 for the quarter. Analysts polled by Thomson Reuters expected the company to report a loss of $0.90 per share on revenue of $48.29 million for the quarter. Analysts' estimates typically exclude special items.

The company said gross margin was negative 17%, in line with previous guidance, primarily because the cost of automotive sales reflects the full burden of operating Tesla factory allocated over a limited number of vehicles produced, along with launch-related variable cost inefficiencies.

The company maintained its 2012 revenue guidance of $400 million-$440 million. Towards the end of the quarter, the company expect to achieve
positive free cash flow in spite of short term cost inefficiencies.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
comments powered by Disqus
RELATED NEWS
Trade TSLA now with 
Follow RTT