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Tesla CFO Zach Kirkhorn says profitability is not likely to be in Q3 2019




Tesla CFO Zach Kirkhorn braced investors for a quarter of a red during the company's first quarter earnings call Wednesday.

In response to questions about the challenges ahead for Tesla in 2019, Kirkhorn said:

" We made price adjustments of our products in the first quarter, something which puts pressure on margins, so that is part of what we see in the second quarter. The teams work hard and make terrible progress in improving the cost-effectiveness of the business without sacrificing growth. That, in combination with the efficiency of the "deviation of the wave", is where we feel that we will be comfortable returning to profitability in Q3, when all these pieces are in place. "

Meanwhile, Tesla's Need for Capital Increases. Managing Director Elon Musk and president of the automotive industry Jerome Guillen talked about the progress and plans to improve logistics, build a new battery and car plant in Shanghai, and start the production of a crossover SUV, model Y , later this year. Guillen noted that Tesla will not start production of his all-electric Semi next year.

A senior technological analyst at Sanford C. Bernstein, Toni Sacconaghi, asked Musk if Tesla plans to raise capital to support These and other aspirations.

"Given that you spent about $ 2 billion in cash in a quarter, you can't try to go through a very thin space while trying to grow fast and be self-financing, as quite frankly, be unrealistic? Why not raise capital? Why do you see it as something Tesla shouldn't or wouldn't do? "

Musk replied," I don't think increasing capital should be a substitute for making the company more effective. "He added that he did not believe that capital had been a limitation on Tesla's growth so far before finally acknowledging that There may be merit to the idea.

"Tesla today is a far more efficient operating organization than it was a year ago, we have made dramatic improvements across the board, and so I think it is merit on the idea of ​​raising capital at this point," Musk.

Adam Jonas asked Musk, how important it is for Tesla to remain a listed company, given all the options Sources of capital that could come across public markets?

Musk said, "It may surprise you, but I prefer that we were private. Unfortunately, I think the ship has sailed. "

Musk added:" Being public feels that the price of the stock is put in the form of a manic depressive way …. It's a bit of a distraction at times, but I'm not sure what to do with the. "

Musk had to pay $ 20 million to the SEC last year after he spontaneously tweeted that he was considering taking Tesla privately for $ 420 per share. Tesla shares shot up Musk and SEC is still locked in talks on how Tesla CEO can use social media to convey potentially important business information about Tesla.



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