Tesla (NASDAQ: TSLA) reported its Earnings for Q4 and Full Yr 2022 this evening, and analysts seem pleased with what the automaker presented and reported.
Tesla reported a beat in EPS, reporting $1.19 per share, while the Street expected $1.13 per share. Moreover, the automaker reported revenues of $24.318 billion.
Tesla Q4 and FY 2022 results: TSLA beats on revenue and EPS, slight miss on auto margins
Analysts are reacting to the quarter, with long-term expectations still remaining bullish for Tesla as the corporate moves forward.
Wedbush’s Dan Ives said Tesla’s delivery guidance of 1.8 million vehicles for 2023 is “just what the Street wanted and margins will compress but [are] higher than feared.” The analyst stated this was a “flex the muscle” view from Tesla, showing strong expectations for this yr despite a “dark macro storm.”
Overall we view this quarter/guidance as a significant positive for Tesla and Musk on this dark macro storm. 2023 Delivery guidance just what the Street wanted and margins will compress but higher than feared. All about conf call but at first glance a flex the muscle view from Tesla
— Dan Ives (@DivesTech) January 25, 2023
Jesse Cohen, a Senior Analyst for Investing, said, “Tesla’s solid quarter is the newest sign that it has done an impressive job navigating through global supply chain and logistics challenges, weathering the storm higher than most legacy automakers.”
Tesla said in its Q4 and Full Yr 2022 Shareholder Deck that there are definitely “questions on the near-term impact of an uncertain macroeconomic environment,” but it surely still expects to proceed accelerating cost reduction while driving toward higher production rates.
No automobile company on Earth has been resistant to supply chain challenges, nonetheless, some have been higher at navigating them than others. Tesla has gained an enormous advantage with demand because it dropped prices by as much as $13,000 in the USA this yr already. Nevertheless, it’s going to still must hold its composure and stability when it comes to constructing and ramping production of those vehicles.
While it only delivered 1.313 million cars in 2022, a ten percent miss on its usual 50 percent delivery increase goal, Tesla admitted that almost all of its production and delivery challenges were concentrated in China at its Gigafactory Shanghai location.
Ives delivered additional commentary after the decision concluded: