The American company managed to slightly exceed market expectations in terms of earnings per share (USD 1.19 vs. USD 1.13 expected) and also did the same in terms of revenue, which totaled USD 24.320 million in relation to USD 24,160 analyst consensus.
In addition, it is worth mentioning that the company previously reported that it had reached a record production of 1.31 billion vehicles during 2022, representing a growth of 40% year-on-year. Only in the fourth quarter, production was 439 thousand vehicles.
However, focusing specifically on the data reported in the current presentation of results, there are several aspects that we must highlight. In the first instance, we cannot fail to mention that, in the fourth quarter, Tesla achieved the highest revenue, margin and net income in its history in a quarter.
However, despite these good results in general terms, if we focus on the automobile business, the margin fell to 25.9%, which is the lowest value in the last 5 quarters. In addition, operating cash flow registered a 29% drop compared to the same period last year. This occurs in a complex global scenario, in which, in its letter to shareholders, the company itself reflected the concern inherent in the challenging macroeconomic context, and especially, referring to the high interest rates.
At the shareholder conference, the company acknowledged declining average sales prices, which have been on a downward trend for several years, responding rightly that greater affordability is necessary to keep up with Tesla’s exponential growth rate.
On the other hand, the energy generation and storage segment continues to show solid growth, having increased production by 18% year-on-year.
