Expectations for Tesla's 3Q
The fact that 2Q EPS had excluded restructuring costs would have exceeded analysts' expectations.
Despite the fact that lithium prices fell and there were factors that lowered manufacturing costs, the reason why the gross margin ratio was not much different from 1Q in the EV business this time is influenced by FIFO accounting rules. Due to production adjustments in 23Q4 and 24Q1, lithium should have been used when lithium prices were still high this 2Q. It is a fact that the number of units sold was earned, and even though sales were cool, the cost was more than expected. After the 3rd quarter, it is possible to lower manufacturing costs by using cheaper lithium.
In other words, the gross margin ratio improves dramatically. If energy were added to this, it would be ridiculous!!
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