Tesla Motors (TSLA, Financial) last night informed investors that its fourth-quarter earnings release and its question-and-answer session would be delayed to later in the evening. The company's earnings call was delayed from 15 to 20 minutes after the market close to 5 p.m. ET. Tesla as well delayed its question-and-answer sesion from 5:30 to 7:00 p.m. The delay was likely caused by Elon Musk splits priorities among several companies, mainly Tesla and SpaceX were he also is CEO of.
Fourth-quarter earnings results
Tesla has reported losses for the fourth quarter of $0.13 per share on revenues of $1.1 billion. Wall Street was expecting earnings of 33 cents per share on $1.23 billion in revenues in the fourth quarter. In the fourth quarter of 2013, the company reported non-GAAP earnings of 33 cents per share on $615 million in revenue. The firm cut its its full-year delivery guidance for 2014 from 35,000 to 33,000 in November. Tesla has missed its delivery goals for 2014-only delivery 9,834 Model S cars in the fourth quarter versus the 11,000 it needed to meet the firm's year-long goal. Sales in North America for 2014 were flat, at about 17,400, or 55% of the total. Tesla delivered 9,500 cars in Europe and about 4,750 cars in the Asian Pacific region.The firm's sales in China have been so horrible that Musk has threatened to fire all of the firm management in China.
Clearly the gigafactory project is very important to Tesla and the faster the company can move construction project long quicker the facility will be operational. Musk has said that Tesla's $35,000 Model 3 should be in production by the second half of 2017. He went on the say that the firm still remains on plan to start battery production at the $5 billion factory outside Reno, Nevada.
