Tesla, Inc. (TSLA)

Get TSLA Alerts
*Delayed - data as of Jun. 18, 2019  -  Find a broker to begin trading TSLA now
Industry: Capital Goods
Community Rating:
View:    TSLA Pre-Market
Symbol List Views
FlashQuotes InfoQuotes
Stock Details
Summary Quote Real-Time Quote After Hours Quote Pre-market Quote Historical Quote Option Chain
Basic Chart Interactive Chart
Company Headlines Press Releases Market Stream
Analyst Research Guru Analysis Stock Report Competitors Stock Consultant Stock Comparison
Call Transcripts Annual Report Income Statement Revenue/EPS SEC Filings Short Interest Dividend History
Ownership Summary Institutional Holdings Insiders
(SEC Form 4)
 Save Stocks

Tesla Motors, Inc. (TSLA)

Q3 2015 Earnings Call

November 03, 2015 5:30 pm ET


Jeffrey K. Evanson - Vice President-Investor Relations

Elon Reeve Musk - Chairman & Chief Executive Officer

Deepak Ahuja - Chief Financial Officer

Jeffrey B. Straubel - Chief Technology Officer


Colin Michael Langan - UBS Securities LLC

Jamie Albertine - Stifel, Nicolaus & Co., Inc.

Adam Michael Jonas - Morgan Stanley & Co. LLC

Joseph R. Spak - RBC Capital Markets LLC

Patrick K. Archambault - Goldman Sachs & Co.

Rod A. Lache - Deutsche Bank Securities, Inc.

John J. Murphy - Bank of America Merrill Lynch

Daniel V. Galves - Credit Suisse Securities (USA) LLC (Broker)

Andrea Susan James - Dougherty & Co. LLC

Emmanuel Rosner - CLSA Americas LLC

Ryan J. Brinkman - JPMorgan Securities LLC

Colin Rusch - Oppenheimer & Co., Inc. (Broker)

Brian Arthur Johnson - Barclays Capital, Inc.

Brad Erickson - Pacific Crest Securities

Ben J. Kallo - Robert W. Baird & Co., Inc. (Broker)



Good day, ladies and gentlemen, and welcome to the Tesla Motors Incorporated third quarter 2015 financial results Q&A conference call. At this time, all participants are in a listen-only mode. As a reminder, today's conference is being recorded.

I'd now like to introduce your host for today's conference, Mr. Jeff Evanson, Head of Investor Relations. Sir, please begin.

Jeffrey K. Evanson - Vice President-Investor Relations

Okay, thank you, Liz, and good afternoon, everyone. Welcome to Tesla's third quarter Q&A webcast. I'm joined today by Elon Musk, Tesla's Chairman and CEO; JB Straubel, our CTO; and Deepak Ahuja, Tesla's CFO. Our Q3 results are announced in the shareholder letter at the same link as this webcast. As usual, this letter includes GAAP and non-GAAP financial information and reconciliations between the two.

During our call, we will discuss our business outlook and make forward-looking statements. These are based on our predictions and expectations as of today. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in our most recent Form 10-Q filed with the SEC.

And now, Liz, let's go to the first question, please.

Elon Reeve Musk - Chairman & Chief Executive Officer

I can probably...

Jeffrey K. Evanson - Vice President-Investor Relations

Oh, do you have some...?

Elon Reeve Musk - Chairman & Chief Executive Officer

I can say – make some comments.

Jeffrey K. Evanson - Vice President-Investor Relations

Actually, Liz, we'll have our CEO, Elon, make some initial comments. Go ahead, Elon.

Elon Reeve Musk - Chairman & Chief Executive Officer

I just wanted to note that we've made two fairly significant hires, the first which is Jason Wheeler. He will be our CFO starting next month. Deepak and Jason will be working closely together for the first few months to have a smooth transition. And, once again, I'd like to thank Deepak for his awesome contribution to Tesla.

Deepak Ahuja - Chief Financial Officer

Thank you, Elon.

Elon Reeve Musk - Chairman & Chief Executive Officer

So Jason comes to us from Google, where he was basically the number two finance guy at Google, responsible for their global finance function, and just thought he was a super smart guy and really understood what we were doing and was like a very cultural fit with the company. So I think that's going to be great.

And then, in addition, Jon McNeill has joined as Head of Global Sales and Service. And Jon is the former CEO of Enservio. He's been named sort of Most Admired CEO in the small and midsize company category. In fact, I believe this is the first time in maybe a decade or more that Jon actually has not been head of the company that he's working at. So – and before Enservio, he co-founded Sterling Collision, where he was able to reduce industry repair times by 90%, so the average repair time went from 18 days to less than 2 days while growing the business at 40% year. So, I think Jon's an awesome addition to the team as well. And he's actually – he's been doing great. He's been working now part-time at Tesla for a few months and just started full-time and has already done a lot of good.

So I'm pretty excited about those two people joining the team, and we expect to have some additional announcements in the months to come as we add bench strength to the Tesla management team.

Jeffrey K. Evanson - Vice President-Investor Relations

Okay. Thank you, Elon. All right, Liz, why don't we go to the first caller, please?

Question-and-Answer Session


Our first question comes from the line of Colin Langan with UBS. Your line is now open.

Colin Michael Langan - UBS Securities LLC

Oh, great. Thanks for taking my question. In the press release you seemed to address this a little bit, but there has been a lot of chatter about cancellations for orders for the X, and I think the press release says (4:28) Signature Series. Is that across models, and how should we think about the different versions of the X rolling out over the next couple quarters?

Elon Reeve Musk - Chairman & Chief Executive Officer

Do you want to talk about that?

Deepak Ahuja - Chief Financial Officer

I don't think there's been anything fundamentally different. I mean so far on the Signature Series Model X, we've seen a much higher conversion rate than when we had seen on the (4:52) when we launched S. So overall, the demand for the X after the launch of the X has been higher. So we don't see any fundamental issues.

Elon Reeve Musk - Chairman & Chief Executive Officer

Yeah, I mean, we're – as we talked about before, really, the main thing with the X is just scaling up production. We're making steady progress with each passing week. Actually, seven days a week, every day, I get an update on manufacturing progress and what the issues are. And we see no fundamental issues on the production ramp. It's just a question of how quickly we can solve each issue. I mean they are really down to like the little things, like the placement of the seal on the door and whether that results in the bright trim alignment being correct, this is quite nuanced. So we feel very confident of being able to get to several hundred vehicles per week by the end of the year.

Read the rest of this transcript for free on seekingalpha.com