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Tesla Q3 Earnings Preview: Supply Chain Issues Cloud Near-Term Outlook

Tesla Motors (TSLA) will report Q3 results on November 5th.

The Street expects:

Revenue: $51 million
EPS: $0.90 loss per share
Q4 revenue guide: $316 million

There are few surprises heading into the earnings as the company cut Q3 and 2012 guidance late last month. While Q3 and full-year delivery goal might not be as high as the Street’s prior consensus, production ramp up for 2013 is likely to be achievable once supply chain issues are resolved.

Weak Delivery Outlook

After much speculation over Tesla’s ability to meet its 500 unit delivery target for Q3, the company finally confirmed that such a goal is unreachable and cut its production target to 300+ units, with approximately 200-225 units for delivery in Q3.

The company also guided 2,500 – 3,000 deliveries in Q4, and 2,700 – 3,225 units for the year.

Gross margin will be negative for the upcoming quarter but will turn positive in Q4.

Supply Chain Issues Causes Near-Term Setbacks


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