Tesla Reports Stronger-Than-Expected Fourth-Quarter Results

Tesla stock dropped after the company reported better-than-expected earnings for Q4. But the automaker’s fourth-quarter results might not be good enough for investors.

Tesla today reported stronger-than-expected fourth-quarter results, but the company’s stock fell slightly in post-closing trading after the automaker warned that supply chain problems could persist throughout 2022.

Adjusted earnings per share were $2.52 per share, versus an expected $2.36.

The company generated revenue of $17.72 billion, compared to an expected $16.57 billion.

Revenue rose 65% year-over-year in the fourth quarter, while total auto revenue was $15.97 billion, up 71%.

Power generation and storage revenue was $688 million, down 8% and below StreetAccount’s forecast of $815.1 million.

Net income rose, at $2.32 billion, by 760%.

Tesla said it had a gross profit margin of 27.4%, compared to 26.6% in the previous quarter.

“Our own factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through 2022,” the company said.

CEO Elon Musk alluded to the supply chain issues in a tweet Last November, writing, “Oh man, this year has been such a supply chain nightmare & it’s not over! I will provide an updated product roadmap on next earnings call.”