Jan 30 (Reuters) - Tesla Inc TSLA.O :
* QUARTERLY GAAP EARNINGS PER SHARE $0.78
* QUARTERLY NON-GAAP EARNINGS PER SHARE $1.93
* QUARTERLY TOTAL REVENUE $7.23 BILLION VERSUS $3.29 BILLION REPORTED LAST YEAR
* Q4 EARNINGS PER SHARE VIEW $2.20, REVENUE VIEW $7.08 BILLION -- REFINITIV IBES DATA
* CASH AND CASH EQUIVALENTS OF $3.7 BILLION AT Q4-END, INCREASED BY $718 MILLION IN Q4
* MODEL 3 GAAP AND NON-GAAP GROSS MARGIN REMAINED STABLE AT >20 PERCENT IN Q4
* CASH FLOW FROM OPERATING ACTIVITIES IN Q4 WAS $1.23 BILLION
* QUARTERLY ZEV CREDIT REVENUE RECOGNIZED NEGATIVE $768,000 VERSUS NEGATIVE $179.1 MILLION
* 2019 CAPEX, THE VAST MAJORITY OF WHICH WILL BE TO GROW OUR CAPACITY AND DEVELOP NEW VEHICLES, IS EXPECTED TO BE ABOUT $2.5 BILLION
* SAYS OPERATING CASH FLOW LESS CAPEX IMPROVED FROM Q3 TO $910 MILLION IN Q4
* Q4 GAAP NET INCOME OF $139 MILLION IMPACTED BY $54 MILLION NON-CASH CHARGE
* SAYS CUSTOMER DEPOSITS DECREASED SEQUENTIALLY BY $113 MILLION IN Q4 TO $793 MILLION AS WE CONTINUE TO WORK THROUGH OUR MODEL 3 BACKLOG
* SAYS MODEL 3 PRODUCTION VOLUMES IN FREMONT SHOULD GRADUALLY CONTINUE TO GROW THROUGHOUT 2019
* SAYS IN 2018, DEPLOYED 1.04 GWH OF ENERGY STORAGE, NEARLY TRIPLING ENERGY STORAGE DEPLOYMENTS COMPARED TO 358 MWH DEPLOYED IN 2017.
* SAYS MODEL 3 PRODUCTION VOLUMES IN FREMONT SHOULD GRADUALLY CONTINUE TO GROW THROUGHOUT 2019 AND REACH SUSTAINED RATE OF 7,000 UNITS PER WEEK BY END OF YEAR
* SAYS PLANNING TO CONTINUE TO PRODUCE MODEL 3 VEHICLES AT MAXIMUM PRODUCTION RATES THROUGHOUT 2019
* SAYS IN Q4, ENERGY STORAGE DEPLOYMENTS REACHED 225 MWH, A DECREASE OF 6% SEQUENTIALLY, AND UP 57% COMPARED TO Q4 2017.
* SAYS LIKELY SAW A PULL-FORWARD OF DEMAND IN THE US FOR MODEL S AND MODEL X INTO 2018
* SAYS A NEW MANUFACTURING LINE MADE BY TESLA GROHMANN IS FURTHER INCREASING PRODUCTION OF POWERWALL AND POWERPACK MODULES AT GIGAFACTORY 1
* SAYS BARRING CHALLENGES WITH GIGAFACTORY SHANGHAI, TARGETING ANNUALIZED MODEL 3 OUTPUT IN EXCESS OF 500,000 UNITS SOMETIME BETWEEN Q4 OF 2019, Q2 OF 2020
* SAYS EXPECTING MODEL S AND MODEL X DELIVERIES IN Q1 2019 TO BE SLIGHTLY BELOW Q1 2018
* SAYS AIMING TO MORE THAN DOUBLE ENERGY STORAGE DEPLOYMENTS TO OVER 2 GWH IN 2019
* SAYS CONTINUE TO TARGET A 25% MODEL 3 NON-GAAP GROSS MARGIN AT SOME POINT IN 2019
* MARKET OPPORTUNITY FOR MODEL 3 IN EUROPE, CHINA EXCEEDS NORTH AMERICA BASED ON MOST RECENT SALES OF MID-SIZED PREMIUM SEDANS
* SAYS DURING MODEL 3 PRODUCTION RAMP, HAD SIGNIFICANT CHALLENGES WITH BATTERY MODULE LINE AT GIGAFACTORY 1 IN NEVADA, & LATER WITH GENERAL ASSEMBLY LINE IN FREMONT
* SEE GROWTH OPPORTUNITIES FOR POWERWALL NOT ONLY IN NORTH AMERICA, BUT ALSO IN AUSTRALIA AND EUROPE
* SAYS EXPECT THAT 2019 GROSS MARGIN FOR MODEL S AND MODEL X SHOULD REMAIN RELATIVELY STABLE COMPARED TO 2018
* SAYS MODEL 3 DELIVERIES IN N. AMERICA DURING Q1 WILL BE LOWER THAN PRIOR QUARTER AS WE START DELIVERING CARS IN EUROPE AND CHINA
* SAYS MODEL 3 VEHICLES PRODUCED SHOULD INCREASE SEQUENTIALLY IN Q1
* SAYS OPERATING EXPENSES WILL GROW BY LESS THAN 10% IN 2019
* SAYS EXPECT THAT THE RESTRUCTURING ACTIONS TAKEN IN Q1 WILL REDUCE OUR COSTS BY ABOUT $400 MILLION ANNUALLY
* QUARTERLY GAAP AUTOMOTIVE GROSS MARGIN 24.3 PERCENT VERSUS 18.9 PERCENT
* SAYS IN JANUARY 2019, STARTED TO PRODUCE MODEL 3 VEHICLES FOR EUROPE AND CHINA
* PLAN TO RAMP UP PRODUCTION OF SOLAR ROOF WITH SIGNIFICANTLY IMPROVED MANUFACTURING CAPABILITIES DURING 2019
* SAYS THIS YEAR, WILL CONTINUE TO IMPLEMENT MORE AUTOMATION PROJECTS, ONGOING COST REDUCTION EFFORTS WILL ALSO MAKE AN IMPACT
* SAYS OPTIMISTIC TARGET IS TO ACHIEVE A VERY SMALL GAAP NET INCOME IN Q1
* DEPLOYED 73 MW OF RETROFIT SOLAR SYSTEMS IN Q4, A 21% DECREASE SEQUENTIALLY.
* SAYS HAVE "SUFFICIENT CASH ON HAND" TO COMFORTABLY SETTLE IN CASH OUR CONVERTIBLE BOND THAT WILL MATURE IN MARCH 2019
* SAYS EXPECTING TO DELIVER 360,000 TO 400,000 VEHICLES IN 2019
* SAYS IN 2019, FULL-YEAR MODEL 3 VOLUMES WILL GROW SUBSTANTIALLY OVER 2018 DUE TO A FULL YEAR OF HIGH PRODUCTION RATES AT FREMONT FACILITY
* SAYS EXPECTING TO HAVE POSITIVE GAAP NET INCOME AND TO GENERATE POSITIVE FREE CASH FLOW (OPERATING CASH FLOW LESS CAPEX) IN EVERY QUARTER BEYOND Q1
* SAYS BELIEVE 2019 CAPEX AMOUNT SHOULD BE SUFFICIENT TO CONTINUE TO DEVELOP MAIN PROJECTS, SUCH AS GIGAFACTORY SHANGHAI, MODEL Y AND TESLA SEMI
* SAYS ADDITIONALLY, THIS YEAR WE WILL START TOOLING FOR MODEL Y TO ACHIEVE VOLUME PRODUCTION BY THE END OF 2020, MOST LIKELY AT GIGAFACTORY
* SAYS BY THE END OF THIS YEAR EXPECTING TO START PRODUCING MODEL 3 VEHICLES AT GIGAFACTORY SHANGHAI USING A COMPLETE VEHICLE PRODUCTION LINE
* SAYS IN Q4, WE DELIVERED 63,359 MODEL 3 VEHICLES TO CUSTOMERS IN NORTH AMERICA
* SAYS EXPECT TO ARRANGE FINANCING THROUGH LOCAL BANKS IN CHINA TO FUND MOST OF THE CAPEX FOR GIGAFACTORY SHANGHAI
* SAYS DUE TO START OF MODEL 3 EXPANSION INTO EUROPE & CHINA, Q1 DELIVERIES WILL BE LOWER THAN PRODUCTION BY ABOUT 10,000 UNITS DUE TO VEHICLE TRANSIT TIMES TO THESE MARKETS
* SAYS COST OF MODEL Y PRODUCTION LINE SHOULD BE SUBSTANTIALLY LOWER THAN THE MODEL 3 LINE IN FREMONT, AND PRODUCTION RAMP SHOULD ALSO BE FASTER
* SAYS MODEL 3'S GROSS MARGIN REMAINED STABLE IN Q4 AT OVER 20%.
* SAYS EXPECT THE CAPITAL SPEND PER UNIT OF CAPACITY FOR SHANGHAI FACTORY TO BE LESS THAN HALF OF THAT OF MODEL 3 LINE IN FREMONT
* SAYS "EXPECT TO ARRANGE FINANCING THROUGH LOCAL BANKS IN CHINA TO FUND MOST OF THE CAPEX FOR GIGAFACTORY SHANGHAI"
* Q4 LABOR HOURS PER MODEL 3 VEHICLE DECLINED BY ROUGHLY 20% COMPARED TO Q3 AND BY ABOUT 65% IN THE SECOND HALF OF 2018 ALONE
* SAYS IN Q4, DELIVERED 27,607 MODEL S AND MODEL X VEHICLES
* SAYS CASH POSITION INCREASED BY $718 MILLION IN Q4, DESPITE SCHEDULED REPAYMENT OF $230 MILLION CONVERTIBLE BONDS
* SAYS AS WE IMPROVE PRODUCTION RATE OF MODEL 3, THE COST PER VEHICLE CONTINUES TO DECLINE
* SAYS GAP BETWEEN PRODUCTION & DELIVERIES IN Q1 TO CREATE A TEMPORARY BUT PREDICTABLE DIP IN REVENUES AND EARNINGS
* SAYS MODEL 3'S SUCCESS HAS CARRIED OVER TO FINANCIAL PERFORMANCE IN Q3 AND Q4 OF 2018
* SAYS MARKET OPPORTUNITY FOR MODEL 3 IN EUROPE AND CHINA EXCEEDS NORTH AMERICA BASED ON THE MOST RECENT SALES OF MID-SIZED PREMIUM SEDANS
* SAYS HIGHER IN-TRANSIT INVENTORY WILL NEGATIVELY IMPACT OPERATING CASH FLOWS IN Q1
* SAYS RECENTLY STOPPED TAKING ORDERS FOR 75 KWH VERSIONS OF MODEL S & MODEL X, WILL FOCUS ON LONGER-RANGE VERSIONS OF THESE PRODUCTS INSTEAD
* SAYS SUFFICIENT CASH ON HAND TO "COMFORTABLY" SETTLE IN CASH CONVERTIBLE BOND THAT WILL MATURE IN MARCH 2019
* SAYS OPERATING INCOME IN Q4 REMAINED STABLE AT $414 MILLION
* SAYS CONTINUING TO PURCHASE OUR OWN CAR-HAULING TRUCK CAPACITY FOR VEHICLE SHIPMENTS
* Q4 OPERATING INCOME REMAINED STABLE DESPITE SEQUENTIAL DECLINE IN REVENUE FROM SALE OF REGULATORY CREDITS, HIGHER IMPORT DUTIES ON COMPONENTS FROM CHINA, AMONG OTHER THINGS
* Q4 OPERATING INCOME REMAINED STABLE DESPITE PRICE REDUCTION FOR MODEL S, MODEL X IN CHINA, INTRODUCTION OF LOWER-PRICED MID-RANGE VERSION OF MODEL 3
* SAYS INCLUSIVE OF GIGAFACTORY SHANGHAI, WHERE CO INITIALLY AIMING FOR 3,000 MODEL 3 VEHICLES/WK, GOAL IS TO PRODUCE 10,000 VEHICLES/WK ON SUSTAINED BASIS