Search for "SEC Live Filings Digest" to find out more.
Filing in Focus: Tesla 8-K, November 5, 2013
Tesla Motors, Inc. (TSLA) announced its third quarter financial results, reporting that it lost $38M during the quarter. The electric-car maker exceeded its Model S delivery estimate of 5,000 cars, reporting 5,500. CEO Elon Musk commented to analysts that demand for the car is very strong but the company’s production capacity is constrained in the United States while also acknowledging it has to start delivering vehicles to Europe. Tesla’s third quarter revenue was $431M, with earnings of $38M and $0.32 per share. The company is predicting fourth quarter earnings similar to third quarter, and also reported that cash on hand increased $49M to $796M. Analysts comment that the company has a lot of appeal but its stock price has been extremely volatile, up more than 400% this year, but its 52-week range from a $29.33 low to a $194.50 high.