The 10-second takeaway
For the quarter ended June 30 (Q2), Tesla Motors whiffed on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP loss per share grew.
Margins dropped across the board.
Tesla Motors logged revenue of $26.7 million. The 12 analysts polled by S&P Capital IQ expected revenue of $30.6 million on the same basis. GAAP reported sales were 54% lower than the prior-year quarter's $58.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.89. The 10 earnings estimates compiled by S&P Capital IQ predicted -$0.92 per share. GAAP EPS were -$1.00 for Q2 versus -$0.60 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 17.9%, 1,390 basis points worse than the prior-year quarter. Operating margin was -398.4%, 30,150 basis points worse than the prior-year quarter. Net margin was -396.2%, 29,490 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $108.0 million. On the bottom line, the average EPS estimate is -$0.87.
Next year's average estimate for revenue is $554.9 million. The average EPS estimate is -$2.74.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 514 members out of 931 rating the stock outperform, and 417 members rating it underperform. Among 241 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 70 give Tesla Motors a green thumbs-up, and 171 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Tesla Motors is hold, with an average price target of $39.79.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool owns shares of Tesla Motors. Motley Fool newsletter services recommend Tesla Motors. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.