Tesla (TSLA) sets new benchmark with Q4 and 2021 full year earnings report

TSLA

Tesla has officially released their Q4 and 2021 full year earnings report, breaking records and beating consensus estimates in the process.

For those still keeping track, this is the tenth consecutive profitable quarter for the automaker.

As noted in their report, 2021 was a “breakthrough year for Tesla,” and the financial results show the future is undoubtedly electric.

“2021 was a breakthrough year for Tesla. There should no longer be doubt about the viability and profitability of electric vehicles. With our deliveries up 87% in 2021, we achieved the highest quarterly operating margin among all volume OEMs, based on the latest available data(2), demonstrating that EVs can be more profitable than combustion engine vehicles.”

Tesla is not resting on their laurels, warning other automakers that this is just the beginning.

“While 2021 was a defining year for our company, we believe we are just at the very early stages of our journey. Thank you for being part of it.”

Here are the key figures from today’s earnings report:

Earnings

In Q4 2021 Tesla shareholders saw earnings of $2.54 cents per share versus estimates of $2.26 per share.

For the full year, earnings came in at $4.90 per share.

Revenue

Tesla reported total revenue of $17.719 billion in Q4, growing 65% year-over-year (YoY), versus estimates of $16.6 billion.

For 2021, revenue grew 71% to $53.823 billion.

Regulatory Credits

In the final quarter Tesla reported $314M in regulatory credit revenue, down 22% YoY, but up from Q3 which saw $279M in credit revenue.

For 2021, regulatory credit revenue totaled $1.465 billion, down 7% YoY.

Other News

Giga Texas and Giga Berlin

Tesla commented on both of their new factories in Austin and Berlin, saying both are awaiting final approvals to begin production, but provided no definitive timelines.

They did however confirm the first made-in-Germany Model Ys will be built using 2170 cells.

Interestingly, no such distinction was made for Giga Texas, supporting rumours that it will start with structural battery packs and 4680 cells.

Tesla also included a photo of seats being attached to a structural battery pack at Giga Texas.

Despite the positive results, shares of Tesla (TSLA) have dropped in after-hours trading following the release of the report.

 

This is a developing story, check back for updates.

About Darryn John 5080 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