Tesla Inc   (TSLA)

Massive $5.75 Billion Tax Provisions Boosts Earnings for Tesla

Tesla leads the way in profitability, as tax provisions contribute to impressive financial gains

Published Jan 30 2024 / Modified Jan 30 2024
CSIMarket Team / CSIMarket.com

Kansas_City_Assembly_By_Ford_Motor_Co_[CC-BY-SA-3.0_(http_creativecommons.org_licenses_by-sa_3.0)]_via_Wikimedia_CommonsTSLA Delivers Impressive Profitability Surge in 2023

Tesla Inc, the renowned electric vehicle manufacturer, recently reported its fiscal results for the period ending December 31, 2023.
The company witnessed a remarkable surge in profitability, leaving investors and analysts astounded.

In the fourth quarter of 2023, TSLA recorded a net profit per share of $2.25, an astounding increase of 110.13% compared to the previous reporting season.
This translated to a net income of $7,943.000 million, representing a staggering growth of 114.27% from the same period a year ago.

Furthermore, revenue for the period rose by a moderate 3.491% to $25.17 billion, considering a comparable reporting season a year earlier.
The revenue recorded in the previous year stood at $23.35 billion, accompanied by a bottom line of $0.53 per share.
Hence, the consistent growth in revenue showcases Tesla's ability to maintain steady progress despite challenging market conditions.

Despite a slight decline in operating margin to 8.2% in the fourth quarter, Tesla's net margin improved significantly to an impressive 31.56%. The formidable rise in earnings per share can primarily be attributed to the provisions on income taxes, amounting to $5,752.00 million.
Excluding this provision, the results for the fourth quarter would have been even more conservative.

One notable aspect indicating Tesla's strong performance is the decrease in inventories to $13,626.0 million from the previous quarter.
Although this signifies a seasonal trend, it is worth mentioning that it marks an increase relative to the same period a year ago.
This indicates growing demand for Tesla's electric vehicles, signaling a positive future outlook.

Another noteworthy signal of the company's growth is the increase in accounts receivable, which were valued at $3,508.0 million.
This further confirms rising demand and solidifies Tesla's position as a leading player in the electric vehicle industry.

Analyzing the entire fiscal year of 2023, Tesla reported revenue of $96.77 billion and net profits of $14.97 billion, showcasing the company's ability to deliver consistent growth and profitability.
The company's income per share also increased by 18.78% to $4.30 per share from $3.62 in the prior fiscal year.
Furthermore, revenue improved by 18.8% from $81.46 billion the previous year, indicating a strong upward trajectory for Tesla.

Despite these impressive results, Tesla Inc's stock faced a minor setback over the last few trading days.
It experienced a decline of -8.71%, resulting in a year-to-date performance of -23.14%. However, it's important to note that the stock is still trading at a healthy 25.3% above its 52-week low, indicating ample room for future growth.

In conclusion, Tesla Inc's record-breaking profitability in the fiscal period ending December 31, 2023, signals the company's ability to thrive in the highly competitive electric vehicle market.
The significant increase in net profit per share, along with steady revenue growth, showcases Tesla's dominance and solidifies its position as an industry leader.
With rising demand, positive outlook, and the potential for further growth, Tesla remains positioned for a prosperous future.

Tesla Inc's Revenue per Employee

Tesla Inc's Price to Book ratio


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