Tesla Steamrolls Competition In Q1 2022 Earnings

It has become kind of boring to say that Tesla is on a roll, but if anything, its success is getting better. In its Q1 2022 earnings call it again beat analyst expectations and steamrolled the competition. It recorded $18,756 billion in revenue and recorded a profit per share of $3.22. Tesla has also imported its operating profit and margin by over 19 percent. Its outstanding recourse debt has fallen below $0.1 billion at the end of Q1. Overall operating income increased by $3.6 billion in the quarter.

"The first quarter of 2022 was another record quarter for Tesla by several measures such as revenues, vehicle deliveries, operating profit and an operating margin of over 19%. Our outstanding recourse debt has fallen below $0.1B at the end of Q1. Public interest in a sustainable future continues to rise, and we remain focused on growing as fast as is reasonably possible," Tesla reported.

Tesla again had a record quarter with regard to deliveries where it managed 310,048

Tesla continued to set records for deliveries as in Q4 of 2021 it had 308,600 deliveries and that number rose to 310,048 in Q1 of 2022. This includes all the models - the Model 3, Model Y, the Model S, and even the Model X. This number also beat the predictions by the analyst at Wall Street who believed the number would be around 309,000.

Perhaps the most impressive metric is the GAAP automotive gross margin in the quarter which is a whopping 32.9 percent. This is despite supply chain issues, increasing costs and Tesla has successfully managed to parse them on to the customers with price hikes which has benefited its margins, something other automakers haven't been able to replicate.

Currently, Tesla has $17.5 billion cash in hand at the end of the quarter which is money that it can use to secure its supply chain needs.