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Tesla (TSLA) Posts 5th Straight Quarter of Profit; Plus CMG, CSX, WHR Beat

Mark Vickery
·3 min read

Tesla TSLA, as of Q3 2020, has now reported profitability for five straight quarters. This was settled Wednesday afternoon, when the electric vehicle giant reported its latest earnings report. We had already seen better-than-expected deliveries from Tesla when they reported 139K+ deliveries in Q3 earlier this month (+7%), and now earnings have come in at 76 cents per share. This is well beyond the Zacks consensus 55 cents. The company is keeping its target of 500K deliveries for full-year 2020.

Revenues of $8.77 billion was beyond the $8.29 billion expected, which itself illustrated growth of more than 30% year over year. Operating cash flows reached $1.4 billion in the quarter, with operating margins of 9.2% slightly below estimates. Tesla also has cash equivalents of $14.5 billion for Q3. Impressive numbers from a company that, previous to its five-quarter earnings winning streak, had missed expectations in six of 10 quarters going back to 2017. Shares are now up near a shocking 500% year to date, with the 1.3% gains after hours.

Chipotle CMG also beat analyst expectations on both top and bottom lines — $3.76 per share on $1.60 billion in sales outperformed the $3.44 per share and $1.59 billion estimated, respectively — but shares have fallen 6% on the news. The fast-casual restaurant major had seen 50%+ gains year to date prior to its Q3 report (with a Zacks Value - Growth - Momentum grade of F to go with its Zacks Rank #3 [Hold]), but 202% growth in Digital Sales and same-store sales of +8.3% were apparently not enough to convince investors not to sell the news. For more on CMG’s earnings, click here.

Rail and logistics operator CSX Corp. CSX topped estimates on earnings in the quarter, with 96 cents per share beating by three cents. Revenues missed the Zacks consensus slightly at $2.65 billion. The Zacks Rank #3 company also announced an additional stock repurchase program worth $5 billion, which helped CSX trade up close to 3% in late trading Wednesday. For more on CSX’s earnings, click here.

Finally, Whirlpool WHR far exceeded expectations on both top and bottom lines: $6.91 per share blew the doors off the $3.90 analysts were looking for, with $5.29 billion in revenues easily surpassing the $4.69 billion consensus. The household appliance manufacturer reinstated full-year guidance and upped its dividend yield to $1.25 per share. Shares shot up 6% on the news but have settled back around 3.6% later in after-hours trading. For more on WHR’s earnings, click here.

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Whirlpool Corporation (WHR) : Free Stock Analysis Report
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