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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. 

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As most of FinTwit already saw/outlined, TSLA saw massive buyers of the Apr2018 200P.

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