Tesla (NASDAQ: TSLA) released its fourth quarter and full year 2022 results tonight, and analysts seem pleased with what the automaker presented and reported.
Tesla reported an EPS beat, returning $1.19 per share, while the street expected $1.13 per share. Additionally, the automaker reported revenue of $24.318 billion.
Tesla Q4 and FY 2022 results: TSLA beats on revenue and EPS, slight miss on automotive margins
Analysts are reacting to the quarter, with long-term expectations still remaining optimistic for Tesla as the company moves forward.
Wedbush’s Dan Ives said Tesla’s 2023 delivery forecast of 1.8 million vehicles is “exactly what the street wanted and margins will squeeze, but [are] better than we feared. The analyst said it was a “flex the muscle” view of Tesla, showing strong expectations for this year despite a “grim macro storm”.
Overall, we see this quarter/these guidance as a major positive for Tesla and Musk in this grim macro-storm. 2023 Delivery advice is exactly what the street wanted and margins will compress, but better than expected. All on conf call, but on the face of it a flexible view of Tesla
—Dan Ives (@DivesTech) January 25, 2023
Jesse Cohen, Principal Analyst for Investsaid: “Tesla’s strong quarter is the latest sign that it has done an outstanding job navigating global supply chain and logistics challenges, weathering the storm better than most automakers. traditional automobiles.
Tesla said in its fourth quarter and full year 2022 shareholder report that there are certainly “questions about the near-term impact of an uncertain macroeconomic environment,” but it still expects continue to accelerate cost reduction while driving towards higher production rates.
No automotive company on Earth has been immune to supply chain challenges, however, some have been more successful in handling them than others. Tesla has gained a huge advantage with demand, as it has already lowered prices by $13,000 in the United States this year already. However, he will still have to maintain his composure and stability in terms of building and increasing production of these vehicles.
While it only delivered 1.313 million cars in 2022, 10% below its usual 50% delivery increase target, Tesla admitted that most of its production and delivery issues were concentrated in China at its Gigafactory site in Shanghai.
Tesla is expected to air its fourth quarter and full year 2022 earnings call at 5:30 p.m. ET.
Disclosure: Joey Klender is a shareholder of TSLA.
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