Core Insights - Tesla's Q3 adjusted EPS is reported at $0.50, below the consensus estimate of $0.54, while Q3 revenue is $28.10 billion, exceeding the expected $26.36 billion [1][2] - Q3 gross margins are reported at 18%, significantly higher than the estimated 7.2% [2] - Free cash flow for Q3 is reported at $3.99 billion, beating the estimate of $1.25 billion [2] Financial Performance - Q3 adjusted EPS is $0.50, compared to a consensus of $0.54 [1] - Q3 revenue stands at $28.10 billion, surpassing the expected $26.36 billion [1] - Q3 gross margins are reported at 18%, exceeding the estimate of 7.2% [2] - Free cash flow for Q3 is $3.99 billion, significantly above the estimate of $1.25 billion [2] Market Outlook - Concerns are raised about EV demand in the US post EV tax credit expiration, with expectations of declining deliveries in Q4 and throughout 2026 [7][8] - Analysts predict a potential decline in total global deliveries for Tesla due to the expiration of the US tax credit [7] - The market may see a pull forward in demand as buyers took advantage of the tax credit in Q3 [8] Product Strategy - Tesla has introduced lower-priced models under $40,000, which may attract buyers but still face competition from traditional vehicles priced lower [9][10] - The Model Y's pricing compared to competitors like Honda CRV and Toyota RAV4 indicates a higher cost for consumers [11][12] Future Growth and AI Vision - Analysts express optimism about Tesla's AI and robotics potential, with a belief that the autonomous driving and robotics market could significantly enhance Tesla's valuation [14][15] - The company is expected to pivot from car sales to software and robotics in the long term [15] - Regulatory uncertainties and competition in the autonomous driving space may impact Tesla's market leadership [16][17] Upcoming Events - A shareholder meeting is scheduled for November 6, where approval of Elon Musk's potential $1 trillion pay package is anticipated [23][24] - The pay package is tied to Tesla's market cap growth and successful rollout of robo taxis and full self-driving software [24]

Well, let's turn to Tesla. The stock moving lower initially, but recovering close to the flat n now. Well, it's down about 1%.Joining us now is Craig Irwin, senior research analyst at Roth Capital. Craig, it's great to have you on. We're still going through this report, which is always the tome every quarter.Uh, but do want to get your initial takeaways, especially as revenue jumped 12% year-over-year. >> Yeah. Yeah.I mean, it was it was 6% uh above uh consensus in the quarter. So, we knew they were going t ...

Core Insights - Tesla's third-quarter earnings fell short of analysts' expectations despite a record number of vehicle deliveries, marking a significant moment as it is the first major automaker to report third-quarter results [1][2][3] Financial Performance - Tesla reported revenues of $28.09 billion, exceeding Wall Street's forecast of $26.5 billion, reflecting a 24.8% increase from the previous quarter [1] - The company experienced a 12% increase in third-quarter revenue compared to the previous year, with automotive revenue rising 6% to $21.2 billion from $20 billion in 2024 [2] - Earnings per share were recorded at $0.50, which was below the projected $0.56 [2] Delivery and Market Position - Tesla achieved quarterly deliveries of over 497,000 vehicles, surpassing its own consensus of approximately 443,079 and analysts' estimates of 456,000, marking the largest delivery number in its history [3] - The stock price declined by more than 1.5% in after-hours trading following the earnings report [3] Future Outlook - Tesla plans to host an earnings call to address shareholder questions, focusing on new car models and updates on the robotaxi service [4] - Analysts are particularly interested in updates regarding the robotaxi service in Texas and California, as well as the production and sales of the new, lower-priced Model 3 and Model Y vehicles [4] Competitive Landscape - The latest quarter saw declining sales in Europe due to increased competition from EV alternatives from companies like Volkswagen and BYD [5] - The expiration of federal electric vehicle tax credits, which previously provided consumers with up to $7,500 for purchasing an EV, is expected to impact Tesla's sales negatively [5] Brand Positioning - Tesla was ranked as the 25th-best global brand by Interbrand, a decline from its previous ranking of 12th in 2024, attributed to rising competition and a perceived lack of innovation [6]

Core Viewpoint - Hybrid Power Solutions Inc. is initiating a non-brokered private placement to raise between approximately CDN$1,000,000 and CDN$2,000,000 by offering 16,666,667 to 33,333,333 units at a price of CDN$0.06 per unit [1] Group 1: Offering Details - Each unit will consist of one common share and one whole common share purchase warrant, with the warrant exercisable at CDN$0.10 for 24 months [2] - The company may accelerate the expiry of the warrants if the share price exceeds CDN$0.20 for 20 consecutive trading days [2] - Certain insiders may participate in the offering, which is expected to be exempt from formal valuation and minority shareholder approval requirements [3] Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for company operations, product and company research and development, sales growth initiatives, marketing, and general corporate purposes [4] Group 3: Regulatory Compliance - The units will be offered to purchasers in Canada (excluding Quebec), the United States, and offshore jurisdictions, in compliance with applicable regulatory requirements [5] - The shares and warrants are expected to be immediately freely tradeable under Canadian securities legislation [5] - Completion of the offering is subject to necessary regulatory approvals, including from the Canadian Securities Exchange [7] Group 4: Company Overview - Hybrid Power Solutions Inc. is a Canadian clean energy innovator focused on developing portable power systems that eliminate the need for fossil fuels in off-grid and remote applications [10]

Core Viewpoint - Michelin issued a profit warning due to unexpected challenges, particularly in its North American business, which significantly impacted year-end forecasts [1][2]. Group 1: Financial Performance - Until September, Michelin's financial results were in line with expectations, but a downturn in September necessitated a drastic adjustment to the year-end forecast [2]. - The North American market, accounting for approximately 40% of Michelin's group sales, was primarily responsible for the profit warning [3]. Group 2: Operational Changes - Michelin ceased operations with its largest tire wholesaler in the U.S. as of July 1, leading to a significant drop in volumes in Q3 compared to the previous year [3]. - The transition to redirect sales to other wholesalers is described as a one-off period that has affected current performance [3].

Earnings Overview - A significant number of earnings reports are expected, including from IBM and Tesla, with a trend of earnings surpassing estimates in recent quarters [1][2] - The earnings beat rate is currently at 85%, indicating strong performance, but there are concerns about post-earnings disappointments in share prices [4] Tesla Performance - Tesla reported adjusted earnings per share (EPS) of $0.50, missing the expected $0.54, while revenue was $28.1 billion, exceeding estimates [16][25] - Free cash flow for Tesla was reported at $3.99 billion, significantly higher than the expected $1.25 billion, marking a 46% year-over-year increase [17][19] - The company faces challenges due to the loss of U.S. tax credits and rising costs, impacting both revenue and profitability [27][28] Market Reactions - Tesla shares experienced volatility, down approximately 1.5% in after-hours trading despite strong revenue and cash flow figures [20][24] - The stock has seen a 100% increase since April's lows but is only about 8% higher for the year, indicating mixed investor sentiment [19] IBM Performance - IBM's third-quarter revenue was reported at $16.33 billion, beating estimates of $16.1 billion, with software revenue aligning with expectations at $7.21 billion [31][32] - Despite positive earnings, IBM shares fell by 3.5% in after-hours trading, reflecting high expectations and potential disappointment in market reactions [32][33] Sector Performance - The technology sector faced pressure, contributing to declines in major indices, while energy and consumer staples sectors showed resilience [8][9] - Intuitive Surgical was a standout performer, gaining nearly 14% after boosting its growth forecast for Da Vinci procedures [10]

Core Business Valuation - The core automotive and energy business of the company is valued at approximately $150 per share based on projected earnings of $2 and a high earnings multiple of 75 [2] - The stock price also reflects significant potential from new products, particularly in robotics and full self-driving technology, which could add about $300 per share in value [3] Strategic Focus - There are concerns regarding the company's focus on future products rather than its highly profitable core EV business, which is considered to produce the best electric vehicles in the market [5][6] - The company is advised to prioritize selling cars in the near term to maintain profitability and improve its image during the transition to future technologies [6] Future Profitability - The timeline for profitability in the robotics sector is uncertain, and it is suggested that the company may take a long time to generate revenue from these new ventures [5] - The reliance on future product success, particularly from robotics, raises questions about the sustainability of the current business model without strong performance from the core EV segment [4]

Core Insights - Tesla achieved a record vehicle delivery of 497,099 units in Q3 2025, primarily driven by a surge in U.S. customers taking advantage of the expiring federal EV tax credit, but profits fell 37% year-over-year [1][2] Financial Performance - The company generated $21.2 billion in revenue, marking its best revenue figure in over a year, but only reported a profit of $1.4 billion, which is a modest increase of $200 million from Q2 2025 [2] - Operating expenses rose by 50% compared to Q3 2024, attributed to increased spending on AI, R&D projects, and restructuring charges of nearly $240 million [3] Future Outlook - Tesla faces pressure to achieve another record quarter to match vehicle shipments from 2024 or 2023, with potential support from new, slightly cheaper versions of the Model 3 and Model Y [4] - The company is significantly off its previously promised 50% year-over-year growth trajectory [4] Corporate Governance - Tesla is proposing a $1 trillion share package for CEO Elon Musk, which is set for a vote at the upcoming annual shareholder meeting, despite advisory groups recommending against it [5] - Musk has indicated he may leave Tesla if the compensation package is not approved, highlighting the contentious nature of the proposal [6]

Core Insights - Tesla reported better-than-expected revenue of $28.1 billion, surpassing the street's expectation of $26.36 billion, but missed earnings per share (EPS) at 50 cents, below the expected 55 cents [1][2] Financial Performance - Revenue exceeded expectations by approximately 6.6% [1] - EPS fell short by about 9.1% compared to market expectations [1] Market Reaction - Following the earnings report, Tesla's shares declined by approximately 1% [2] Revenue Composition - Approximately 80% of Tesla's revenues are derived from automotive sales, yet the company trades at a high price-to-earnings (PE) ratio of over 250 based on forward earnings [3] - The battery storage segment, while a high-growth area, saw a year-over-year decline of 7% last quarter, contributing only 10% to total revenues [4] Future Outlook - Investors are seeking more concrete details regarding future plans, particularly in areas such as robo-taxis and autonomous vehicle development [2][5] - There is skepticism regarding the impact of new lower-priced models (Model 3 and Model Y) on sales, as they are perceived to have lower range and capabilities [5]

Tesla Financial Performance - Tesla's third quarter revenue reached $28.1 billion, exceeding estimates of $26.36 billion, indicating a significant revenue beat [1] - Adjusted EPS was reported at 50 cents, slightly below the expected 54 cents, marking an EPS miss [2][18] - Free cash flow for the quarter was reported at $3.99 billion, significantly higher than the estimated $1.25 billion, representing a 46% year-over-year increase [13][43] Market Dynamics and Product Developments - There is speculation about a pull forward in demand due to the expiration of EV tax credits at the end of September, which may have contributed to the revenue increase [3][8] - New product offerings in the China market, including the Cyber Cab, Tesla Semi, and Mega Pac 3, are on schedule for volume production starting in 2026 [4] - The energy and storage revenue saw a notable increase of 44% year-over-year, outpacing the 6% growth in the auto business [43] Investor Sentiment and Future Outlook - The market response to Tesla's earnings report has been muted, with investors awaiting insights from the upcoming conference call [5][18] - Key areas of focus for investors include updates on autonomous driving, robo-taxis, and the company's strategy in the competitive EV market, particularly in China [5][11][45] - There are concerns regarding the company's ability to maintain demand following the expiration of tax credits and the effectiveness of newly launched lower-priced models [44]