Hey everybody Rob mower here and today I thought we would spend some time going

through Daimler's Q4 and Total Year 2019 results. They just

released their earnings report today and there was some pretty shocking

numbers in there. So I spent some time going through those as well as the

earnings call and I want to run through those things today.

And we'll also spend some time at the end going through a couple of quick Tesla updates.

So getting into the Daimler earnings report, I just want to quickly run through the high-level financials. I'm going to go through five metrics here for total Daimler

which includes their trucks and buses and mobility divisions and then we'll also look at total Mercedes-Benz

which I think is more relevant to Tesla.

We'll start off on the top line here with revenue for the year.

Daimler delivered 173 billion euros in revenue.

That actually compared favorably to last year's 167 billion euros, so up 3% year over year.

But after that things start to fall apart a little bit.

So if we look at the profitability metrics, earnings before interest in tax for the year were 4.3 billion euros

versus 11.1 billion euros last year. That's a change of down 61% year over year. So there are some things impacting that that we'll talk about here in a second, but just to run through the rest of these metrics quickly. Free cash flow was 1.4 billion versus 2.6 billion

2.9 billion euros versus 7.6 billion euros last year down 64%

and earnings per share came in at $2.22 versus $6.78 last year, down 67% year over year.

These are obviously horrific numbers to be looking at. These are the actual numbers. These are the bottom line numbers in Daimler's financials, but they did have some one time impacts this year that are driving those numbers so low.

So if we take those one-time impacts out

and look at an adjusted earnings before interest and tax

and an adjusted free cash flow,

things improve pretty significantly, but are still tough year over year.

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