Q1-23 Earnings Discussion (04.20.23)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 21 April 2023
⏱️ 14 minutes
🧾️ Download transcript
Summary
➤ Rob Maurer walks through the most important items from Tesla’s Q1 earnings report
➤ Clarifying foreign exchange impact
➤ Analysts update price targets after earnings
➤ ARK publishes new TSLA model
➤ Tesla mobile app update
➤ EV tax credit updates
➤ Starship’s first fully integrated test flight
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Executive producer Jeremy Cooke
Executive producer Troy Cherasaro
Executive producer Andre/Maria Kent
Executive producer Jessie Chimni
Executive producer Michael Pastrone
Executive producer Richard Del Maestro
Executive producer John Beans
Music by Evan Schaeffer
Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody, Rob Mauer here and today we are going to be primarily talking a little |
| 0:10.8 | bit more about Tesla's Q1 earnings report yesterday, now that we've had a day to reflect |
| 0:14.7 | on it to think a little bit more about what Tesla discussed, and then we do have a few |
| 0:18.1 | other news items towards the end. |
| 0:20.3 | Looking at the stock, the negative reaction to the earnings report and probably more |
| 0:23.7 | particularly the earnings call continued, during trading today, Tesla down almost 10% |
| 0:27.9 | on the day to close to $162.99, while the NASDAQ was down 8-10% on the day. |
| 0:33.7 | So let's talk about earnings, let's talk about the reaction, as I said in the post call |
| 0:37.6 | recap yesterday, I'm not surprised by this reaction time and time again throughout |
| 0:41.3 | the earnings call, Elon Musk pretty much said the exact opposite of what Wall Street |
| 0:45.6 | was wanting to hear or hoping to hear, obviously they asked so many different questions |
| 0:49.7 | about demand, about pricing, where that's going to be going forward, what margins are |
| 0:53.4 | going to be going forward, that is the overwhelming focus for Wall Street right now. |
| 0:57.7 | And that's not to say that there's not a good reason for that, when you see earnings |
| 1:00.5 | decline, even though revenue and deliveries are growing, that's a huge red flag for any |
| 1:05.1 | company, let alone a company that has a high earnings multiple. |
| 1:08.5 | So while it's annoying that the analysts apparently cannot listen to the other questions |
| 1:11.5 | that we're asking, kept asking the same question, it is a question that is worth asking |
| 1:15.4 | on its own. |
| 1:16.5 | And Elon's answer pretty much seemed to be, well we don't really care, we're just going |
| 1:19.5 | to keep cutting prices and eventually we're going to make more money because of FSD. |
| 1:23.4 | The problem with that is that Wall Street certainly does not believe that Tesla is going |
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