Tesla Motors, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Production and Capital Expenditure Guidance for the Fourth Quarter of 2015
Nov 3 15
Tesla Motors, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company's total revenues were $936,789,000 compared to $851,804,000 a year ago. Loss from operations was $183,662,000 compared to $39,129,000 a year ago. Loss before income taxes was $228,074,000 compared to $70,981,000 a year ago. Net loss was $229,858,000 compared to $74,708,000 a year ago. Net loss per common share, basic and diluted was $1.78 compared to $0.60 a year ago. Cash flows used in operating activities was $203,340,000 compared to $27,996,000 a year ago. Capital expenditures was $392,403,000 compared to $284,175,000 a year ago. Net loss (non-GAAP) was $74,953,000 compared to net income of $3,174,000 a year ago. Net loss per share, diluted (non -GAAP) was $0.58 compared to income per share of $0.02 a year ago. Revenues (non -GAAP) were $1,243,837,000 compared to $932,348,000 a year ago.
For the nine months, the company's yotal revenues were $2,831,645,000 compared to $2,241,695,000 a year ago. Loss from operations was $456,296,000 compared to $111,851,000 a year ago. Loss before income taxes was $560,275,000 compared to $180,726,000 a year ago. Net loss was $568,266,000 compared to $186,411,000 a year ago. Net loss per common share, basic and diluted was $4.47 compared to $1.50 a year ago. Cash flows used in operating activities was $494,650,000 compared to cash flows provided by operating activities of $29,065,000 a year ago. Capital expenditures was $1,223,628,000 compared to $601,224,000 a year ago. Net loss (non -GAAP) was $181,016,000 compared to net income of $36,315,000 a year ago. Net loss per share, diluted (non -GAAP) was $1.42 compared to income per share of $0.26 a year ago. Revenues (non -GAAP) were $3,544,518,000 compared to $2,502,907,000 a year ago.
In fourth quarter, the company plan to build 15,000 to 17,000 vehicles, and deliver 17,000 to 19,000 vehicles, which will result in 50,000 to 52,000 total deliveries for the year. The company plan to invest about 500 million in fourth quarter, which will bring the projected total capital expenditures for this year to about $1.7 billion. The increase in spending is primarily due to accelerated investments in the Gigafactory, further vertical integration of seat assembly and other manufacturing activities, as well as faster milestone execution by certain suppliers for Model X manufacturing equipment and tooling.