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Money Elon Musk: Tesla presents its figures for the third quarter

20:00  21 october  2020
20:00  21 october  2020 Source:   handelsblatt.com

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Tesla boss Elon Musk was able to report the fourth profit in a row for the second quarter of 2020. On Wednesday night, investors will find out whether they can maintain their success.

Bisher verlief das Jahr 2020 für den E-Autohersteller sehr erfolgreich. © Reuters So far, 2020 has been very successful for the e-car manufacturer.

With the construction of the Gigafabrik in Grünheide, Brandenburg, Tesla is encountering local resistance, especially in Germany, and the financial markets are also largely skeptical of the electrical pioneer before the figures for the third quarter are published on Wednesday.

The analysts' outlook for the

Tesla share is mixed: only three recommend buying, 19 analysts rate the Tesla share as “neutral” and 15 analysts recommend selling. The US investment bank Goldman Sachs has left the rating for Tesla on "neutral" with a price target of 450 dollars.

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On the US stock exchange Nasdaq the Tesla share was before trading at 421.98 dollars. The electrical pioneer is a long way off from the high of $ 498 at the beginning of September.

In the past few quarters, however, Tesla has repeatedly been able to present surprisingly good figures. In the second quarter of 2020, Tesla boss

Elon Musk had already announced the fourth win in a row. At a good six billion dollars, sales exceeded analysts' estimates.

In the same quarter last year, the company reported a loss of $ 408 million or $ 2.31 per Tesla share. Operating profit (Ebitda) was $ 1.2 billion. Even the ailing solar business had recently started up again.

“Our operating result improved in the second quarter despite challenging circumstances,” Tesla CEO

Elon Musk emphasized when announcing the latest quarterly figures. Tesla benefited from lower operating costs, billions in revenue from the sale of carbon credits, and $ 48 million in deferred revenue.

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But there were also burdens on the Tesla balance sheet: During the corona pandemic, production in the Tesla plants had to be temporarily suspended - despite massive public complaints from Musk.

In the current quarterly figures, investors should therefore pay particular attention to the development of regional registration numbers, wrote analyst Mark Delaney in a study published on Monday. From this it can be deduced whether Tesla can defy the corona crisis in the auto industry.

In addition, the development of the model range is likely to be in focus: With the Model Y, Tesla wants to occupy the lucrative segment of compact SUVs. The electric pioneer wants to counteract the chronic weak sales of the luxury-class sedan Model S with a price reduction.

On Wednesday at 10:25 p.m. German time, investors will find out whether the success story will continue in the third quarter of the financial year. Then Tesla will publish the figures for the third quarter of 2020 in the

USA .

More: Federal Cartel Office confirmed: Electric car manufacturer Tesla is merging with the Rhineland-Palatinate auto supplier ATW based in Neuwied near Koblenz.

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