저자: KevinPaff · 외국인
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테슬라 2023년 10월 실적발표 후 머스크의 태도와 리더십을 강하게 비판. 마진 16.3%, 대규모 잉여현금흐름 등 펀더멘털은 양호하다고 봄. 금리 상승으로 EV 수요가 위축되었지만 장기적으로 EV 전환은 유지된다고 주장. 사이버트럭은 향후 큰 현금흐름원이 될 수 있다고 평가. 투자 권유는 명시하지 않음.
다듬은 글
let's bring in Kevin paff financial analyst and YouTuber meet Kevin good to see you Kevin so investor in you're so welcome I know this this was not the earnings call that people were expecting I mean we're used to the kind of musk that we see on X who sort of dips into everything but this was an earning call what were your big takeaways from this oh my gosh I this was terrible I feel bad for him you look he's got a lot of things going on legal battles custody battles with for his kids now but it doesn't justify acting like Trump on Twitter stonewalling the SEC or the European Union and quite frankly turning into a little baby on the earnings call I me he was almost in tears it showed a complete lack of leadership Tesla's a leadership L company right now and it's terrible that's why there's CFO just left I believe as well and this is a slap in the face to everyone it's not just the shareholders but it's a slap in the face to the other managers who are still there and the over 100,000 employees at Tesla for a leader to cry about the economy rather than funneling that and coming up with a plan is pathetic see he's slow walking his plans to build the Mexico gigafactory because he's worried about the economy he's afraid but he should channel that and he should instead negotiate with the Mexican government provide a clear formula rates go up prices come down it's not that hard but Tesla still has industry-leading margins over 16.3% going to the uh going to gross profit out of every hundred bucks they make $16.30 going to gross profit beating every other American EV manufacturer and even Legacy auto manufacturer they have so much going for them but they should provide a clear formula they should advertise to higher income areas and they should provide a clear path for margin expectations we got none of that we got a leaderless Elon Musk who was afraid to be on an earnings call who sounded beat down and L and like somebody who's basically leading Tesla into a directionless path forward it's disgusting well Kevin regardless of you know how you interpret Elon musk's comments we are seeing that reverberate throughout the EV sector you look at where Shares are among Tesla's competitors all down partly because of what we heard from Elon mus saying that higher rates are sapping demand is that the whole story here well yeah I mean look it's obvious that when rates go up car price has become less affordable it's the same thing for home prices there are less buyers now when it comes to homes there are also less sellers so you have a little less fluctuation but in vehicles everybody's producing more so of course this is normal but the but Tesla should be playing its strengths here Tesla's strengths are out of everyone who's in this hard economy Tesla is still generating massive profit per vehicle massive free cash flow and the only Pure Play EV in America to actually be generating this cash flow there's so much potential they're so close on autonomy they're so close on a revolutionary new vehicle the cybertruck which is an exoskeleton rather than a you know an internal skeleton for a vehicle these are great products and the people at Tesla should be cheered for this but we need to know the lights at the end of the tunnel rather than hearing a complaining CEO who who's not actually providing that path this makes people nervous and scared it makes people want Tola part of that if we look at the sector as a whole though I mean the the the declines we're seeing today not in Tesla but in the names like rivan Lucid I mean they all have their individual stories but is that warranted when you consider the higher rates maybe sapping Demand right now but I guess the question to use does that long-term play for Ev demand does that remain intact still oh absolutely 100% look the like longterm 5 10 years down the road everybody's going to want an electric vehicle the range won't be an issue there'll be charging stations everywhere you'll be able to charge faster than you can fill up your tank of gas these cars are much safer they're much less likely to catch fire they're much less likely to roll over you don't have fuel in the back of your car in the gas tank these vehicles are phenomenal the acceleration is better the handling is better everything about electric vehicles is better problem is you have you know Elon acting like Trump on Twitter and he's really frankly upsetting a lot of people there are a lot of especially women which is another demographic Elon should be playing towards upset and who would never touch a Tesla vehicle so I'm I'm very frustrated with Elon but long term EVS will be dominant ice cars will go away that is very clear that long-term trajectory stays intact and Kevin I want to ask you about delivery numbers because one of the things that we're expecting potentially is for more price Cuts in order because Tesla's feeling pressure to meet those delivery numbers but I want to talk about the game changer that's supposed to be the Cyber truck I want to play you this sound bite from the earnings cor from musk we dug our own grave with C cyber truck it is going to be require immense work to reach volume production and be casual positive at a price that people can afford it will take I don't know a year to 18 months before it is a significant positive cash flow contributor so if you've if they've dug their own grave with a cyber truck what are the expectations where does Tesla go from here in terms of the next leg up in terms of growth you know really I'm I'm shocked that he would say something like this the cybertruck and he mentioned it in another part of the uh earnings call as well the cybertruck could be the leading source of cash flow for Tesla in the future but of course when you ramp a new product it's going to burn money at first of course when you have a new Innovative product that nobody's created before that you have to create the systems for the new parts for whatever of course it's going to be expensive at first but a way to phrase this much better would be look we are the only pure play EV in North America that is actually profitable on the cars we sell we're going to reinvest that profit into making what could be the greatest vehicle ever manufactured the Cyber Tru and in 18 to 24 months we think that is going to drive the greatest cash flow we've ever seen at Tesla greater than anything we've ever seen before that's the leadership we need because what does that do it motivates shareholders to support Tesla Tesla doesn't have as much cash as people think they're like oh they have 26 billion of cash yeah well they got a pile of$ 23.5 billion of bills on their desk they just had to borrow $2 billion more just to stay afloat they don't have as much cash as people think so the cash flow matters and we need that Vision that what we're reinvesting for is actually going to be worth it in the future otherwise if I'm a Tesla employee working on the cybertruck I listen to that ears call I'm like screw this why why would I work for for this company why would I work and spend my efforts on this car if even our leaders like oh we're digging our own grave it is a stupid thing to say this is this was a disgusting earnings call Elon should be banned from the earnings quite frankly he should just be an outside consultant because all he's doing now is he's blocking people on Twitter who are criticizing him and it's disgusting tell us how you really feel Kevin Kevin with a mouthful here on Tesla financial analyst and YouTuber meet Kevin good to have you on love to dedicate an hour next time to get your Tesla thoughts thanks so much for that
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