Tesla, citing a “structural shift” in place a query to for electric vehicles, reported its perfect-ever quarterly earnings of $1.6 billion and $13.8 billion in revenues no matter provide chain concerns.
The extensive portray: The company’s third-quarter file says the chip shortage, port congestion and other woes catch affected its factories however argues that “flexibility” and “ingenuity” are a counterweight.
What they’re announcing: Wedbush Securities, in a display, mentioned Tesla’s earnings and deliveries save “an EV place a query to trajectory that appears to be like to be to be like slightly tough for Tesla heading into 4Q and 2022.”
They estimate the chip shortage has supposed 40,000 fewer sales this year than would in every other case occur, however still project around 900,000 for 2021 and 1.3-1.4 million next year.
What’s next: Tesla hopes to begin manufacturing from still factories in Austin and Berlin by year’s stop.
However chief financial officer Zach Kirkhorn cautioned that “the hardest work lies ahead in the ramp” and that the factories will “partially weigh on our margins as we work against quantity manufacturing.”
Streak deeper: Tesla Posts Declare Quarterly Earnings on Present-Chain Resilience (WSJ)