Tesla's Balance Sheet Improves Cash Holdings to End 2018, Scale Potential Remains Attractive
Tesla reported a fourth quarter net profit of $139.5 million, less than the $311.5 million reported for third quarter, as guided by CEO Elon Musk in a recent 8-K filing announcing a 7% headcount reduction. After factoring in 2019 guidance of less capital expenditure than we were modeling ($2.5 billion versus $4 billion), and guidance of a less than 10% increase in operating expenses, less Model S and X volume in 2019 than we were modeling, and a higher share count, we see no reason to change our...Tesla designs, develops, manufactures, sells and leases electric vehicles and energy generation and storage systems, and provides services related to its products. The company operates as two reportable segments: automotive, which includes the design, development, manufacturing, sales, and leasing of electric vehicles as well as sales of automotive regulatory credits; and energy generation and storage, which includes the design, manufacture, installation, sales, and leasing of solar energy generation and energy storage products, services related to such products, and sales of solar energy system incentives.
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