Tesla Inc. ($TSLA) announced its third-quarter earnings for 2021 after the market closed. Tesla beat WallStreet estimates with a revenue of $13.8 billion. Its total revenue grew by 57% YOY in Q3. This was achieved with a record number of vehicle production and deliveries. Tesla delivered more than 800,000 vehicles in Q3 2021.
Revenue: $13.8B vs. $13.2B Expected
EPS: $1.86 vs. $1.35 Expected
Other Significant Details
Tesla’s operating income improved to $2.0B in Q3 compared to the same period last year, resulting in a 14.6% operating margin. They also reported a Bitcoin (BTC) related impairment of $51 million. Quarter-end cash and cash equivalents decreased to $16.1B in Q3, driven mainly by net debt and finance lease repayments of $1.5B, partially offset by free cash flow of $1.3B. Their total debt excluding vehicle and energy product financing has fallen to just $2.1B at the end of Q3.
Analysts Estimates
The Wall Street analysts predicted revenue of $14.005 billion and earnings per share of $1.59 for this quarter. Because of the delivery numbers, analysts were very confident of their estimates about Tesla. The company has been shattering its records, but the market was highly anticipatory for the results.
Earnings History
Tesla’s earnings per share in the same quarter last year was reported at $0.27. This year, the stocks have performed much better and the EPS in the first quarter of the year was $0.39 while it went more than double for the second quarter. The EPS for the June quarter was reported at $1.02.
The revenue has doubled for all the quarters- when compared to Tesla’s earnings for the fiscal year 2020 or 2019. The revenue of the company in this fiscal quarter last year was $10.74 billion. The revenue reported this year in the first and second quarters is $10.39 billion and $11.95 respectively.
