Drivin Into Earnings (TSLA Earnings)
Tesla (TSLA) will report Q3 results in a shareholder letter on its website after the bell and host a call at 17:30.
Analysts expect non-GAAP EPS of ($2.29) vs. 0.71 last year with revenue up 29% to $2.94 bln.
Tesla preannounced higher than expected Model S and Model X deliveries (+4.5% to 26.2K) and raised FY17 delivery guidance in early October -- Tesla expects to deliver about 100,000 Model S and X vehicles in 2017, which would be a 31% increase over 2016.
Investors will be squarely focused on the Model 3 production ramp tonight as the company is in the midst of ‘production hell', according to Elon Musk.
- Missing delivery targets due to supply constraints is the norm for Tesla.
- The 500K EV build plan for all three models next year seems as unlikely as ever at this point.
- Despite a huge pick up in electric vehicle competition, the Tesla brand is incredibly strong and demand remains robust.
- Tesla bears are focused on the company's liquidity, financial outlook and seemingly unrealistic goals from its ambitious CEO.
OPTIONS:
As most of FinTwit already saw/outlined, TSLA saw massive buyers of the Apr2018 200P.