Tesla Issues Outlook - Quick Facts

(RTTNews) - Tesla, Inc. (TSLA) announced, for full year 2020, vehicle deliveries should comfortably exceed 500,000 units. Due to ramp of Model 3 in Shanghai and Model Y in Fremont, production will likely outpace deliveries in the current year. The company targets positive GAAP net income going forward, with possible temporary exceptions, particularly around the launch and ramp of new products. Also, Tesla projects positive quarterly free cash flow going forward, with possible temporary exceptions.

Fourth-quarter basic non-GAAP earnings per share was $2.14, up 7% from previous year. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $1.72, for the quarter. Analysts' estimates typically exclude special items. Non-GAAP net income to stockholders rose 12% year-on-year to $386 million.

Fourth-quarter total revenues were $7.38 billion, up 2% year-on-year. Analysts expected revenue of $7.02 billion for the quarter. Automotive revenues were $6.37 billion, an increase of 1%.

Shares of Tesla, Inc. were up nearly 7% after hours.