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But we saved everything 🙂.
Tesla recognized a net $447 million in third-quarter gross profit from one-time tariff refunds, which accounted for over 61% of its Q3 EBIT. Excluding this boost, the company’s core business generated an EBIT margin of just 1.0%, and its pro-forma non-GAAP earnings per share of 38 cents missed Wall Street’s 44-cent estimate.
Gordon Johnson questioned in his post why these results and their implications have not received more scrutiny from media outlets.
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Earlier, Gordon Johnson highlighted Elon Musk’s reduction of Tesla’s 2030 annual car target from 20 million to 5 million units in a previous report. He also noted Tesla’s Q3 deliveries increased 1.4 percent, with an estimated 9.2 percent decline in the U.S. and a 17.8 percent rise in China, as detailed in another article. These updates follow ongoing scrutiny of the company’s guidance and results.