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Production Outlook

All articles tagged with #production outlook

business1 year ago

Rivian Faces Challenges: Job Cuts and Pricing Pressure Amid EV Demand Shift

Rivian's stock plummeted as the company announced a lower-than-expected production outlook for 2024 and revealed plans to cut 10% of its salaried staff due to economic uncertainty. The electric vehicle maker reported mixed fourth quarter results, with revenue slightly exceeding estimates but with a wider-than-expected adjusted loss per share. Rivian's CEO emphasized the company's focus on driving cost efficiency, achieving positive margins, and building its go-to-market function to support long-term growth. The company's profitability plans are crucial for its survival, as it aims to reach "modest gross profit" by the end of 2024.

via Yahoo Finance|
#business#electric-vehicles#ev-demand
business2 years ago

Tesla Stock Plummets 12% as Production Growth Outlook Dims

Tesla stock fell 12% after reporting Q4 earnings that missed estimates and issuing a downbeat full-year production outlook, with adjusted EPS of $0.71 and revenue of $25.17 billion. The company warned that its vehicle volume growth rate for 2024 may be notably lower than in 2023 due to the launch of the next-generation vehicle at Gigafactory Texas, and CEO Elon Musk confirmed that the next-gen vehicle will be coming in the second half of 2025. Tesla's drop in profitability is attributed to downward pressure on margins, cost-cutting efforts, and various challenges including rental car firm Hertz shedding EVs, production halts, and Musk's demand for more stock. Despite reporting record Q4 deliveries and strong demand for the Cybertruck, Tesla's stock has lost over 26% this year. Musk also expressed concerns about maintaining control of the company to pursue its AI ambitions.

via Yahoo Finance|
#business#elon-musk#ev
business-finance2 years ago

"Tesla's Stock Plunge: Analysts Concede 'Train Wreck' Earnings Call and Warn of 'Notably Lower' Growth"

Tesla's stock plunged over 12% after reporting Q4 earnings that missed estimates and issuing a downbeat full-year production outlook, with CEO Elon Musk confirming that the next-gen vehicle will arrive in the second half of 2025. The company's full-year production growth rate is expected to be notably lower than in 2023, impacting its ability to reach Street estimates for 2024. Factors contributing to the drop in profitability include downward pressure on margins, cost-cutting efforts, and various operational challenges. Despite setting a record for Q4 deliveries, Tesla's 38% delivery growth rate fell short of its 50% CAGR target due to factory shutdowns and improvements. Musk also expressed concerns about maintaining control of the company to realize its AI ambitions.

via Yahoo Finance|
#business-finance#elon-musk#ev
business2 years ago

Tesla Warns of Slower Growth, Stock Drops on Q4 Earnings Miss

Tesla's stock dropped 8% after reporting Q4 earnings that missed estimates and issuing a downbeat full-year production outlook, with CEO Elon Musk confirming the next-gen vehicle's arrival in the second half of 2025. The company's profitability decline is attributed to margin pressure from cost-cutting efforts, while factors like Hertz shedding EVs, Tesla cutting prices in China, and Musk's stock demand have also impacted performance. Despite a record 484,507 deliveries in Q4, Tesla's 38% delivery growth rate fell short of its 50% CAGR target, and Cybertruck deliveries were not broken out in the update. Musk also expressed concerns about maintaining control of Tesla to realize its AI ambitions.

via Yahoo Finance|
#business#elon-musk#ev-market
business2 years ago

"Tesla's Q4 Earnings Miss Sparks Stock Drop and Production Growth Warning"

Tesla's Q4 earnings missed estimates, with revenue of $25.17 billion and adjusted EPS of $0.71, while warning of a notably lower production growth rate for 2024 due to the launch of a next-generation vehicle at Gigafactory Texas. The company's drop in profitability is attributed to margin pressure from cost-cutting efforts, and recent challenges include Hertz shedding EVs, price cuts in China, a production halt in Berlin, and CEO Elon Musk's demand for more stock. Despite reporting record deliveries in Q4, Tesla's shares have dropped over 15% since the start of the year, and analysts seek clarification on Musk's comments about needing greater control for Tesla's AI ambitions.

via Yahoo Finance|
#business#elon-musk#ev-market
business2 years ago

Rivian Overcomes Bankruptcy Prediction and Boosts Production Target Amidst EV Demand

EV startups Rivian and Lucid, both of which faced challenges after going public, are now on diverging paths. Rivian CEO RJ Scaringe raised the company's production target for the year and announced the end of an exclusivity deal with Amazon, while Lucid CEO Peter Rawlinson cut production forecasts. Rivian expects to manufacture six times the number of vehicles as Lucid this year. This divergence gives investors hope that Rivian may survive a potential shakeout in the EV industry, despite Elon Musk's previous prediction that both companies could go bankrupt.

via Fortune|
#business#elon-musk#ev-startups
business2 years ago

Tesla's stock plummets as production outlook and earnings disappoint

Wells Fargo has lowered its price target for Tesla from $260 to $250 due to a reduced production outlook. Concerns were raised over Tesla's decreasing prices and profits, as well as uncertainty surrounding the company's plans for Gigafactory Mexico. Other analysts, including Wedbush and Morgan Stanley, also reduced their price targets for Tesla. During Tesla's Q3 2023 earnings call, questions were raised about the impact of delaying the Mexico plant and the company's ability to achieve its delivery targets. Elon Musk confirmed plans for a Gigafactory in Mexico but expressed concerns over timing and affordability.

via TESLARATI|
#business#gigafactory-mexico#price-target