Tesla's Earnings Beat Estimates As They Sold A Ton Of Cars

We're just parsing Tesla's fourth quarter 2013 earnings report but, overall, they're doing well. Their earnings-per-share beat estimates, net income was $46 million, and they sold and delivered a record 6,892 vehicles.

Here are the highlights:

  • 6,892 vehicles delivered, which is a record and good considering a generally slow Q4
  • EPS of $.033, most were expecting $0.21
  • A margin of 25% on their vehicles with ZERO money from ZEV credits, which is huge
  • Model X deliveries by Spring 2015

That bit about the zero EV credits is the biggest takeaway, as they'd previously leaned heavily on what was essentially a handout by other automakers that everyone knew was going away. Here's what they said:

Both Toyota and Daimler powertrain programs remain on plan and contributed $13 million of revenue in the quarter. Q4 sales also included $15 million of regulatory credits revenue, but no zero emission vehicle (ZEV) credit sales.

Is there any word of an Apple-Tesla tie up? No, of course not. Don't be silly. There is, however, a much more potentially important announcement regarding Tesla's gigafactory, which they need because they might use all the batteries. Like, literally, all the batteries.

Very shortly, we will be ready to share more information about the Tesla Gigafactory. This will allow us to achieve a major reduction in the cost of our battery packs and accelerate the pace of battery innovation. Working in partnership with our suppliers, we plan to integrate precursor material, cell, module and pack production into one facility. With this facility, we feel highly confident of being able to create a compelling and affordable electric car in approximately three years. This will also allow us to address the solar power industry's need for a massive volume of stationary battery packs

There be a slight hiccup in deliveries, they warn, until they can get more batteries. That little solar bit is interesting given that Musk is also the chairman of a solar company.

Oh, and if you bet against Tesla (as many people did) you're in trouble:

Anything else interesting? Drop it in the comments.