Tesla released its Q2 delivery and production numbers after the bell on Tuesday, posting record production of 87,048 vehicles and record deliveries of approximately 95,200 vehicles.
In its release, the company also says it “made significant progress streamlining [its] global logistics and delivery operations at higher volumes, enabling cost efficiencies and improvements to [its] working capital position.”
In addition, the company also offered positive guidance for its Q3, claiming that its backlog had increased:
Orders generated during the quarter exceeded our deliveries, thus we are entering Q3 with an increase in our order backlog. We believe we are well positioned to continue growing total production and deliveries in Q3.
At least for now, it turns out that Tesla’s “leaked” emails touting the good news well in advance were both true, and not yet priced in by the market. Shares are up by more than 8% in the aftermarket session on the news.
Possibly as important as what the release included may be what it excluded, as Mark Spiegel noted on Twitter.
The following sentence was in the $TSLA Q1 deliveries report. It’s missing from today’s Q2 report:
“We reaffirm our prior guidance of 360,000 to 400,000 vehicle deliveries in 2019.”
— Mark B. Spiegel (@markbspiegel) July 2, 2019
The company appears to have staved off its critics for now – but no sooner are these numbers released than the market will be eagerly awaiting the accompanying Q2 financials.