Re:Tesla Repays Department of Energy Loan Nine Years Early
by damoncali on Wednesday May 22, 2013 @07:11PM
(#5754373)
Gross margin, and it's tiny without the credits. Tesla's most recent quarter resulted in an operating loss and a net loss.
Edit: my bad. Seems the net income was slightly positive last quarter (with regulatory credits included, without them it's a big old negative).
Re:Tesla Repays Department of Energy Loan Nine Years Early
by NickM on Thursday May 23, 2013 @02:24PM
(#5758515)
Even without regulatory credits included, they made a profit. Check the filing: total profit for the quarter was $96.3 million, and revenue from ZEV and other regulatory credits was only about $85M.
Re:Tesla Repays Department of Energy Loan Nine Years Early
by pbreit on Wednesday May 22, 2013 @07:43PM
(#5754508)
But the Model S itself is gross margin positive? That's all I was wondering.
Re:Tesla Repays Department of Energy Loan Nine Years Early
by andrewtbham on Wednesday May 22, 2013 @09:28PM
(#5754827)
The gross margin is 17%, but I was surprised to learn that includes ZEV credits.
From 10Q: >During the first quarter of 2013, we recognized $67.9 million in ZEV sales, which contributed to our gross margin.
http://ir.teslamotors.com/secfiling.cfm?filingID=1193125-13-...
Re:Tesla Repays Department of Energy Loan Nine Years Early
by damoncali on Wednesday May 22, 2013 @08:07PM
(#5754593)
I didn't see it broken out in the financials, but I didn't look terribly hard. I don't think it's unreasonable to assume it's similar to the overall gross margins in the low single digits (2% by my math - ignoring emissions credits).
Is that true? I know the company overall would not have turned a profit without the credits but was under the impression that they currently had positive gross margins on the Model S.