Tesla disclosed its Q2 financial report after the U.S. stock market on Wednesday, July 20, Eastern Time. Tesla's adjusted EPS was $2.27 in the second quarter, and analysts expected $1.83. Revenues in the second quarter were $16.9 billion, while analysts expected $16.88 billion. In the second quarter, the gross profit margin of vehicles increased by 27.9%, while analysts expected a 26.8% increase.
(Source: Company Financial Report) Overview of the key points of the quarterly financial report:
adjusted net profit in the second quarter was US$2.62 billion, a year-on-year increase of 52%, and a growth rate of 255% in the first quarter.
The gross profit of the automobile business in the second quarter was US$4.081 billion, a year-on-year increase of 41% and a 132% increase in the first quarter.
In the second quarter, the gross profit margin of the automobile business fell to 27.9%, not only significantly lower than the 32.9% in the previous quarter, but also declined compared with the same period last year. Analysis points out that inflation, the epidemic, competition for battery and parts supply, and appreciation of the US dollar all have an impact on profits.
EV points revenue was $344 million, about half of the first quarter, down $10 million from the same period last year.
The Berlin plant has reached the milestone of producing 1,000 electric vehicles per week, and the Austin plant has also completed production and delivered the first 4,680 battery pack car. Both Shanghai and Folmont plants achieved the highest monthly output ever in the second quarter. The recent equipment upgrade of the Shanghai factory will further increase production capacity in the future.
guide to maintaining 50% growth in long-term annual delivery data.
In the first quarter of this year, Tesla warned that due to the main constraint of supply chain, the company's self-operated factories have been operating at lower than capacity levels for several quarters, and this situation may continue after 2022. At that time, Tesla also mentioned that in addition to the chip shortage, the new crown epidemic also put pressure on the company's supply chain and factory operations, and the prices of some raw materials increased several times in a few months.
It is worth noting that Tesla's free cash flow in the second quarter was US$621 million, and its estimated price was US$625.2 million. Tesla used about 75% of its Bitcoin to purchase fiat currency, which increased its balance sheet by $936 million in cash in the second quarter. In early 2021, the company announced that it had purchased $1.5 billion worth of Bitcoin. After the results of
were announced, as of the close of US stocks on July 21, Tesla rose 0.8% to US$742.5 per share, with a latest market value of US$769.52 billion. After the U.S. stock market, Tesla rose 4%.
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