Blog: Quarter 1 Earnings Call
I already feel discouraged. After giving this some more thought after I posted the post last night and waking up to seeing that this was only actually read by two people which is probably me and the friend that I sent this to. How in the world am I going to be able to build this into a 535 person Patreon Blog…? Oh well, I sure as hell won’t be able to by whining and bitching on a Self Driving Technology Blog that for sure! Maybe I will do a weekly recap each week on how the goal has been going. As for my thought process for funding the vehicle, I will have more information on that tomorrow.
Fishing myself back to reality and back to self-driving and Autopilot. Today is a big day for Tesla and TSLA as they have their quarterly earnings call in a couple of hours as of writing this. Which is where we will be able to gain insight on key factors such as Model 3 margins, Quarter One revenue and more. Since we already have the vehicles produced and delivered for Q1 we can see that Tesla produced in excess of over 14 thousand cars. A first for Tesla. In Q4 of 2018, we see that Tesla was able to produce over 90 thousand vehicles, so a decrease in revenue from Q4 is expected. However, where it becomes interesting is if you take a look at Q1 2019 to Q1 2018. Last year at this time Tesla reported a revenue of 3.4 billion dollars to where this quarter is expected to leap that to a total of 5.559 billion according to Wall Street analysts.
Something else to look forward to today on the earnings call is something that I discovered on the r/TeslaMotors subreddit the other day.
While this did occur just yesterday the report very well may have been generated and ready for broadcast. However, this does leave some hope that Elon was able to flex his Twitter promise muscles (which could be a whole another blog post on its own) to bring this to fruition for today. Never the less even if we don’t get it in today’s report (I have a feeling we will) it is still good to see that this will be shown going forward on future earnings statements. Hopefully, this can give Tesla a platform to announce the autopilot related crashes and god forbid autopilot related fatalities. With this platform, Tesla will be able to limit the announcements and hopefully subsequent media frenzies that always swarm up whenever anything negative happens to a Tesla car.
Based on the quarter one information we already have regarding Autopilot. The company has released their third report of its kind since it recently implemented this program in an effort to once again correct the narrative being spun on Tesla and the TSLA stock. In the fourth quarter of 2018, Tesla announced that they had registered one accident per 2.91 million miles driven on autopilot with one per 1.76 million miles when the vehicle was not in autopilot and under the control of its human operator. Unfortunately, when you compare the fourth quarter to how they fared in their first report(Q3 2018), Tesla actually increased their autopilot related accidents by a decent margin. Yet when looking at the human and the autopilot for these quarters, each data set is equally higher compared to Q3, which some are attributing to the worsening weather and road conditions in some regions of the world. However, when taking a look at these results from the newly released 2019 Q1 earnings we can see that this slide is continuing ever so slightly. While yes the argument could be made that the weather was just as if not worse than Q4 of 2018 across regions but when you take in the human data we see that Autopilot caused an accident one in every 2.87 million miles driven and humans caused one in every 1.76 million miles. So, in other words, the humans have caught back up and stopped making as many mistakes in as Q1 2019. Invalidating the weather argument. While I hope that next quarter we can see these numbers improving well past Q3 2018, maybe past the four million miles driven per accident threshold?? If they pull this off that would give Tesla the feat of being 2X superior compared to a human, I still love that Tesla releases this information, please never stop.
Check out the call for yourself here at 2:30PST: https://ir.tesla.com/events-and-presentations