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From Electrek: Tesla’s (TSLA) first earnings announcement post-SolarCity integration: cash...

Discussion in 'News from Electrek.co' started by RSSFeed, Feb 22, 2017.

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    Tesla’s (TSLA) first earnings announcement post-SolarCity integration: cash positions, solar tile roof production this year, more

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    Tesla has made its first quarterly announcement since it purchased SolarCity in late 2016. Understandably, it seems SolarCity’s own Gigafactory has been renamed Gigafactory 2. The SolarCity integration being an ongoing process warranted notice in the header lines of the document – with this first page quote reiterating the logic in purchasing SolarCity:


    With the acquisition of SolarCity, we have created the world’s only integrated sustainable energy company, from generation to storage to transportation.

    Multiple references were made to bettering the cash positions of the company by focusing solar power sales on cash deals that generate immediate revenue versus lease sales. It was stressed that Tesla’s plan to do this was strongly underway – cash sales increased from Q3’16 to Q4’16 from 13% to 28%, while from increasing 7X from the 4% in Q4’15. Of the 203MW installed in the quarter – 56MW were cash sales totaling $77 million. Those $77M were added in only six weeks – $500-667M in cash sales for 2017 (low end adjusted as there is always a bump in 3rd/4th quarter)?

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