Tesla beats Wall Street expectations with Q4 2022 and full year financial report

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Credit: Tesla

Tesla has published their Q4 2022 and full year financial results, and after setting new records in both production and deliveries last year, the automaker also set new records with their financials, beating analyst expectations yet again in the process.

Earnings per Share

Tesla beat Wall Street estimates by posting a $1.19 non-GAAP earnings price per share in Q2, compared to a consensus estimate of $1.10.

Revenue

Tesla had a strong quarter in terms of revenue, growing 33% year-over-year (YoY). The automaker recorded $24.318 billion in revenue in Q4, ahead of the $23.5 billion estimate by analysts. It was also a nearly 15% increase over the previous quarter where Tesla reported $21.454 billion in revenue in Q3 2022.

For the full year Tesla recorded $71.462 billion in revenue, a 51% jump from 2021.

Profitability

Tesla posted a $3.687 billion GAAP operating income in Q4, a 59% increase YoY. Overall, the company posted a GAAP Automotive gross margin of 25.9% in the final quarter of the year.

For 2022 as a whole, Tesla earned $12.556 billion GAAP operating income, with a GAAP Automotive gross margin of 28.5%.

Tesla said their operating income was largely impacted by:

  • growth in ASP (excluding FX) and vehicle deliveries (despite margin headwind from underutilization of new factories
  • gross profit growth in other parts of the business
  • FSD revenue recognition of $324M in Automotive Sales
  • lower stock-based compensation and payroll tax expense related to CEO awards
  • higher raw materials, commodity, logistics and warranty costs
  • cost of production ramp of 4680 cells
  • negative FFX impact of over $300M

Regulatory Credits

Regulatory credits sold to other automakers was up quarter over quarter to from $286 million to $467 million, and up 49% YoY from $1.465 billion to $1.776 billion.

Tesla (TSLA) shares are trading slightly up in after hours trading at the time of publication.

This is a developing story, check back for updates…

About Darryn John 5536 Articles
Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca