Tesla Shares Plunge 8% on Q3 Delivery Miss
<p><a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla, Inc. (NASDAQ:TSLA)</a> shares closed more than 8% lower on Monday following the company’s reported miss on Q3 deliveries.</p>
<p>The analysts at Deutsche Bank provided their views on the company following the report. Q3 deliveries came in at 343,800 units, predictably up from 255,000 units in Q2 as the company recovers from the impact of Covid lockdowns in Shanghai during Q2 but below Deutsche Bank’s forecast of 367,000, due to an increase in cars-in-transit at the end of the quarter. Q3 Production totaled 366,000 units which was much closer to what the analysts had predicted for delivery heading into the announcement. </p>
<p>The company explained that it has become increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during peak logistics weeks. Model 3+Y deliveries came in at 325,200, and Model S+X deliveries at 18,672 units.</p>
<p>The analysts reduced their Q3 revenue forecast from $22.9 billion to $21.6 billion and maintain their gross margin estimate of 28.1%, leading to EPS of $1.04 vs. the prior $1.14.</p>

NASDAQ:TSLA