Hey everyone me kevin here today we're going to review tesla earnings which are expected within the next five to 10 minutes, we'll see how those are. I am totally in a mess of a studio - that's not even remotely ready to film in but uh. I promised this morning that i would go live for tesla, so i'm going live for tesla the scheduled release day or time frame is uh. 4 10 uh for tesla.

That is a 4 10 eastern we've obviously got a lot of things that we're hoping for a positive news on uh. I'm sure there'll be some things that, or did it freeze a little bit yeah look at that frozen, see it's not even ready, uh, i'm switching computers to get off the mac for streaming, but i haven't even set that up. Yet it's coming, though, so anyway, uh things that we're probably expecting to hear about we're, probably going to hear something. I would imagine in the analyst questions about tesla uh and the connection to twitter, of course, via elon musk.

That is what, if elon potentially wants to leverage tesla shares to end up buying twitter or something like that right. So that's uh, that's going to be something that comes up. Uh is my expectation. I would hope that we get updates on uh the ramp time frames for berlin and austin.

This is a really big deal: berlin and austin uh we're expecting from berlin. Bloomberg has reported 30 000 vehicles for 2022 and hopefully, by the end of the year, we could be at a ramp rate of about a thousand a week. The problem with that is, we produce about 2 000 a day at giga, shanghai and gig of shanghai was shut down for uh for nearly two weeks, so you've got a substantial hit. There uh on um, unfortunately uh the uh, the vehicle deliveries that we expect uh from uh gig of shanghai, which is not great because basically, whatever giga berlin gives us, is now getting uh replaced by uh by, of course, uh.

The shanghai shutdown, which sucks so uh q4 investor presentation, i'm gon na pull that one up here in just a moment, we'll take a brief, look and see uh. What we can glean from the last investor presentation and that'll give us a little bit of an update in terms of what we should expect going forward into q1 uh. Hopefully, we'll also get some updates on the 4680 cell production. Are we going to full production in texas right away on that uh, supposedly the model y's being produced? There are already using the 4680 battery cells, which is very, very important uh.

This is your a cobalt free, uh battery uh, cobalt, free cathode, which is great because there are a lot of concerns about child labor, especially in central africa, which is not good and uh. And then, of course, maybe we might even hear a little bit of an update on that stock. Split right, the stock dividend. That's coming so uh, tbd uh, then um yeah, i mean uh.

I think the rest is just gon na come down to margin, so margin's gon na be a really big deal is my expectation here: er, it is every single time and obviously netflix, just like in q1 has uh during during q1, when netflix reported q4 earnings. We had a disastrous result: uh from netflix and uh, that sort of set the stage for a really bad earnings season. Hopefully we don't run into that again, but this is your uh latest info from um, q4 and uh. Really i want to highlight specifically the things that we're going to be looking for uh, of course, where's my pencil i'll just use my finger.

Then there we go okay, perfect, so uh, specifically things that we're going to be looking for that are going to be. Most important are going to be when we jump on over uh here, as always we're looking at this automotive gross revenue. But what i really want to do is take out the credits. So when we get this new sheet, we're going to jump on over towards uh it's actually later in the report, i'm trying to remember where it is uh.

Let's see here, there's a and we can calculate this too, but they'll give it to us as well, which is nice. We want automotive gross margin without uh the credits, so we'll go through this line by line when the new numbers come out. Uh. I don't know where they hit it now.

I think they hide it towards the end here: automotive gross margin uh. This is the the old information over here, so uh, but anyway, we're gon na pay attention to this and uh. This is it's gon na, be a big deal, the tesla earnings here. We already know that deliveries b.

So that's excellent. Now it's just a matter of. Can we get oh here, it is see, look at that! It's right here. It's right in the first section here: uh 29.2, excluding credit, see that's great and elon's long run goal has been 30, but there are a lot of analysts now who are talking about the potential for tesla to actually get to a 40 gross margin and like i'm, I'm a pretty big tesla bull.

Oh look! Earnings just came out here. We go just this minute. Oh my gosh, adjusted eps huge, beat guys 3.22 on uh eps adjusted. The expectation was 2.27.

This is insane uh revenue was 18.8 billion. The expectation was 17.92. That's an incredible, beat uh tesla plans to grow our manufacturing capacity asap, my goodness this is what i've been talking about, is uh, that's the product is the factory. This is why i am now over six.

Actually, i think i'm exactly. Sixteen thousand shares strong in tesla uh tesla, making progress on the industrialization of the cyber truck uh. We've got we're gon na go through the the docks in just a moment. Uh tesla gross margin, uh comes in at 29.1, but the estimate was actually a reduction to 25.8 due to those supply chain constraints.

The fact that - and i don't know uh if this is oh, my gosh, oh wow, that's excluding the credits holy crap, tesla, q1 automotive gross margin, including the credits, are you freaking kidding me holy shitakes, dude 39.2. You guys have to see this like look. Just look at the headline here: look at the tippy top headline there, tesla q1 automotive gross margin, 39.2 versus the estimate of 28.4. Are you freaking kidding me holy smokes so uh? It actually came out five minutes earlier than expected.

The report, which is great, i mean we caught it within the first minute there i want to grab the filing now. So, let's get that press release holy crap, that's all i could say i i'm like i'm getting chills, because that is that is so freaking good uh i mean this is the one company that uh just continues to blow my mind? I can't believe they pushed margin to almost 33 percent. Okay, i got it uh. This is absolutely insane.

Okay, q1 update. I i i mean. Oh my gosh, let's see what do we got over here? Okay, so uh, okay operating cash flow, less cap back so uh 2.2 bill in free cash flow after cap x, just so much money man, it's amazing total debt, excluding vehicle and energy product financing, is uh nominal here. Okay, so basically talking about forgetting about their credit lines, that's fine! This is insane.

I mean this is with the credits, i'm assuming right here: 32.9 gap, automotive gross margin, q1. I'm blown away like i think tomorrow, i'm just going to sell all my other stocks and throw it into tests. That's what the hell during the supply chain crisis, like i wasn't even expecting the market certainly wasn't expecting that i was hoping it would stay stable. The freaking crap grew three percent holy geez man, uh, okay, so production deliveries for giga berlin started march uh, giga texas, started in april, i'm actually still wearing my cyber uh entrance.

Bracelet first quarter was another record quarter for tesla by several measures, such as revenues, vehicle deliveries, operating profit, operating margin of over 19 uh uh outstanding. Let's say our outstanding recourse debt has fallen below 0.1 billion. I mean they're, basically, debt free. This is insane outside of uh their credit lines, right: expansion of production capacity - okay - this is core here like this is so critical, but but people don't realize the value of what they're saying here.

In my opinion, expansion of our production capacity is core to our decision. Making in the past two months, we began deliveries at texas and berlin. At the same time, we are putting significant efforts into in-house cell production, raw material procurement and supplier diversification. Look if they could just get these factories everywhere, where the raw materials are.

Let's go. That's! That's when you really start printing teslas challenges around supply chain have remained persistent and our team have been navigating through them for over a year. In addition to chip shortages, recent outbreaks have been weighing on our supply chain and factory operations. Furthermore, prices of some raw materials have increased multifold in recent months months.

The fact that some of their raw materials are up multi-fold and they are still increasing margin - is absolutely freaking insane. The inflationary impact on our cost structure has contributed to adjustments in our product pricing. Despite a continued focus on reducing our manufacturing costs were possible. We'd like to thank everyone.

Yes uh. This is holy crap all right. Look at this folks! Look at this automotive gross margin. Now this this generally includes the credits right, but look at this last year, we're at 26.5, 28.4, 30.5 q4, we're like 30.6 or like there's no way they're gon na beat it there's no way.

They're gon na beat it uh uh. Now, because you know of of omicron and the supply chains and all this bull, crap nope, not lols 32.9. Are you freaking kidding me? How could you invest in any other company? I mean oh man. I need some vodka um.

This video is brought to you by streamyard. You want professional live streaming, software, where you can throw up stuff like heading to 10, 30. 30 check out stream yard by going to bedkevin.com streaming all right, so holy crap, look at the op margin, so so operating expenses operating expenses are things like sg, a right Selling uh general administration, because the way the way you do earnings or the way you you have income is you have money come on. You have income that comes in uh, but the income comes in for products, and so there are these things.

Called costs of goods sold right and then you get to what's called your gross profit. Your gp then you're gon na take out stuff like selling and administration sg a right, uh and uh the fact that uh and then you get to your your up margin right. Uh operating profit is what you could call it anyway. The fact that this is now 19.2 percent, which means all of a sudden they've gone up.

Another five percent here, almost that's insane, jeez man, that's four point: five percent, but close enough to five uh free cash flow 2.2 bill little little less free cash flow here, probably because of the expenses of opening two factories. So not unusual here. This is absolutely incredible. Uh, total revenue grew 81 year over year.

It's not really a metric that i like to look at. This is what i like to look at right here: increases in average selling prices. I mean that's inflation-based, obviously right they're raising prices because of that uh growth and vehicle deliveries reduce costs per vehicle. Despite inflationary pressure, see, there's cogs costs of goods sold holy crap.

It is time for tesla tequila. This is absolutely insane increase in regulatory credit sales. Oh, so they got extra credits. Okay, so i want to see less credits, what their margin was without credits too uh.

So that way we can try to understand where this is all coming from. So this is our production uh. You know look at that very slow ramp here on the s and x, you just went from thirteen thousand vehicles to fourteen thousand two hundred, so i'd like to see that pump again a little bit uh snx deliveries, so okay, three and y fine solar deployed. This is look at that that look at that that's a plummet there and solar deployed check that out.

So this right here was q121. This is q2. Q3. Q4.

Q1. What the heck is happening here, uh, so uh and phase just hit some like recent highs. Again, it retraced like 65, and i talked to my video this morning about how i actually sold end phase, not because i don't love nfas, but because i'm worried that consumers are going to spend less on their homes if they're worried that there's a chance rates. Well, i mean rates have already gone up, but there's a chance that home prices might come down.

I wonder if that's related and i wonder if we'll see anything in the earnings calls about that uh. The storage deployed is also uh down a chunk. Here i mean quarter over quarter. It makes sense to see these go down because people spend money on solar and energy at the end of the year, but uh look at q1 of last year.

We did oh, we did a lot more storage, though that's really good. Almost twice the amount of storage, i wonder if that's mega packs or home storage, but uh solar deployed very low. So i wonder what i want to know what's happening over there still growing that supercharger network, which is phenomenal. I mean that's one of the big reasons: people love tesla as uh.

This, the you know it's it's just you. You've got to be able to charge these freaking cars uh okay, so we delivered our first vehicles with the 4680 made cell single piece front body, castings and structural battery packs. So it's worth noting this cyber rodeo, which i went to absolutely phenomenal. It's worth noting that this is this is so huge, because it's really the the pinnacle of that's it.

The factory product is done uh. In other words, it's like the the product has been made. We now have the single casting machine that makes the machine uh or the gig. They made the machine to make the gigapress and now so now they have the gigapress for these single uh single piece front body, castings uh, the structural battery packs having a factory line that can put this together.

This is the star of the copy and paste model. This is what, for me, that makes me so excited is you're investing in tesla for that technology, the structural battery packs and the single body castings to get those margins down and if they can copy and paste these factories there's plenty of demand. This is really really incredible, so yeah elon is supposed to be in the call today. That is true, so weekly production rates were strong in q1, in spite of uh spike in covet cases, blah blah blah.

Okay, i, where is this is this - is the i you know what i can't wait is i can't wait for uh like here you to have a bunch of more gigafactories. You know we got california, we got shanghai, berlin and texas. Let's, let's get going on these right and uh, that list will grow future product. Here is probably the optimus robot.

Okay, berlin. Berlin is not using the structural battery packs they're using the regular 2170. Those are the lithium iron phosphate batteries. Ultimately, gigafactory berlin uh will be able to produce model wise, okay, i'm gon na you know i'll.

Do the earnings call as well and earnings call with elon musk? Let's just update that so we'll we'll do that as well. Yeah, okay, but that's i always see here that is starting, i believe that starts in about. I thought it was 1 30, but i'm not sure if it's 1, 30 or 5., i'm pretty sure, it's 1, 30. So we'll see, i will get a confirmation really quickly.

5. 30! Oh, don't tell me it's 2. 30! No! Well, then, we'll have to we'll we'll finish this and we'll have to come back to it. Oh that's lame! If it's 2, 30., okay! Well, whatever so! Oh yeah! It is 2, 30..

Okay, all right nevermind! So, let's see here, i want to find less margin, but also what other updates we can get fsd continued with seven software updates in 2022.. Okay, you know i, i have to show you all something really quick er, because this was this was ridiculous. Okay, so hold on a second, my father-in-law, who drives the lucid. He um sends me all the bad news about tesla and uh.

He sent me this. Take a look at uh, this video here and and uh. It's it's worth seeing this especially now's the time to do it. So let me make sure that we get audio on this message and i approve this message.

You are watching actual videos of the tesla full self-driving technology, as recorded by the drivers from turning too tightly and hitting a pylon to swerving toward a pole. Jesus watch the bicyclist on the right almost get hit before the driver takes over. Sometimes it seems that tesla doesn't want the driver to take over this driver had to hit the brakes when the tesla didn't understand a detour sign. Okay here it almost hit a truck.

Obviously i had to take over and here it swerves into an oncoming lane. Look at that often the tesla doesn't know what it wants to do. What is it doing or just doesn't know how to turn? Oh, my god tesla's full self-driving software for drivers and pedestrians. It's unsafe at any speed, tell congress to shut it down yeah, so they literally have uh a like a pr campaign going this this uh.

This company has a pr campaign going to stop full self driving and, what's so sad is first of all, it's a beta you've got 60 000 users using the full self driving beta, and these are the probably most embarrassing. Cherry picked clips of fsd, but fsd is not fully ready yet, but you know, what's even more funny is the company that sponsored this is called green hills. Software, take a look at green hills, software, folks, green hills, software uh. The videos that were shown were between february 2022 and october 2021, so hopefully the software's improved.

Since then we know it has. It regularly improves, like we just saw tesla, said: they've, updated, uh, fsd seven times just in 2022 right, but take a look at this green hill software. They sell their own uh. You know autonomy software.

In fact, they call themselves the leading world in embedded safety and security. Green hill software is the worldwide leader in embedded safety and security. Hundreds of millions of vehicles contain software created with green hills, platforms for automotive, enabling car making makers and suppliers to reduce manufacturing costs. Blah blah blah increase product development, increase security and safety uh spanning all electronic automotive software, blah blah blah look at this.

They even have a typo there. They have two periods after time to market, so basically here's some kind of uh software provider. That maybe does like traction, control or whatever and and they basically put a hit piece together on tesla slamming the fsd. It's it's kind of gross the stuff that you see about uh uh.

You know the sort of the pr crap that you see against tesla, but let's go ahead and see what tesla's update is uh. So tesla says that fsd beta development continued with seven software updates. In 2022, our team continued to work on reducing disengagements, particularly focusing on unprotected left, turns and smoothness of ride. Through reduction of slow down events, we are aiming to release uh fsd beta to all customers before the end of this year, yeah tesla, i still don't have it.

I bought a new car just to try to get it now. I have two teslas just to see if i can get it, i still don't have it initial release of the fsd beta to some customers in canada started in march, so anyway, you're always going to get that kind of fun but uh. Personally, i kind of love it because it's like hey anything that makes uh that makes the stock cheaper, is an opportunity to go shopping. In q1, we added a mobile app controls for climate controls, dog mode blah, blah blah enabled users to customize the color of vehicle ui on the inside, improve charging estimation and accuracy; okay great.

So what is this? Diversification of battery chemistries is critical for long-term capacity growth to better optimize our products for their various use cases. This is basically saying your standard range model 3. It does not need a 4680 ba structural battery pack. You know your more performance vehicles do eventually they'll all have those, but for now you may as well just use the old stuff as well uh.

This is why nearly half of the teslas produced in q1 were equipped with the lithium iron phosphate battery containing no nickel or cobalt. This is really important because nickel is getting destroyed in the supply chains. Cobalt has the child labor implications. Lfp batteries are used in our standard range vehicles, as well as in commercial energy storage applications.

This would be the mega packs as a result of our efficient motors. A model 3 with an lfp pack can still achieve a mile range. I always say asterisk on that, because they always overestimate how far you can actually go. So what is this? Solar deployments decreased 48 in q1 to 48 megawatts.

The reduction was caused by import delays beyond our control. Okay, all right i'd like to hear more about this. On the earnings call, but that's very interesting: solar roof deployments continue to grow year over year. Okay, cash and loan sales account for nearly all, in other words, they're not doing leases anymore.

Energy storage deployments increased 90, mainly driven by power wall deployments. That was a question i had earlier when we first looked at this, is it mega packs or power walls, and it's this is this - is a sign of the consumer continuing to spend money on their homes in q1? I expect this to decline in the future, as people spend less money on their homes, as demand remains substantially above capacity, growth has been limited by ongoing supply challenges, although it may not decline, if you, if you have too much excess demand anyway, we're in the process Of ramping production at a dedicated mega pack factory to address the growing demand, wow uh ram protection at a dedicated mega pack, factory, okay, uh in q1 services and other gross margins remain close to break even that's pretty typical, as well as merchandise and tesla owned uh. Oh year, over year, improvement was driven by strong used car sales, which they can make a profit off of uh reselling. They buy it prices go up, then they could resell it for more right.

That's profit as well as growth in merchandise, tesla and collision, centers and related services. Our insurance business continues to expand with launches in colorado. Oregon and virginia tesla x is an insurance carrier, which means we are the underwriter and bear financial risk. Yes, yes, you do.

We plan to grow manufacturing capacity as quickly as possible over a multi-year horizon. We expect to achieve 50 average annual growth in vehicle deliveries. Yeah tell that to netflix, which is growing at 10 and honestly. At this point, it's growing negative uh.

That's pretty sad! Sorry, if you own netflix, i'm just saying like if you're gon na buy a growth company, there's a reason companies have the multiples they do it's because of the growth that's expected. Now you get a growth. Miss at tesla would be bad, but so far i mean we're impressing. More than we're missing rate of growth will depend on our equipment, operational efficiency, our own factories have been running below capacity for several quarters.

Wow. Listen to that, the existing factories have been running below capacity for several quarters due to supply chain issues. Sufficient liquidity to fund expansion, pace of austin and berlin will be affected by the successful introduction of many new product and manufacturing technologies. Cool factory ramps take time.

Yes, yes, uh continuing to make progress on the cyber truck got it over time. We expect our hardware related profits to be accompanied with an acceleration and software related profits like fsd profits, so uh what where's where's without credits? That's what i want to see. So this looks like berlin um, that's berlin and here's giga texas. They had the coolest uh drone show at uh giga texas.

It was really cool. Okay, oh take a look at this. This is so cool. I like this rendering.

So this rendering really puts it in into focus for you why the tesla gigapress is so impressive, so see all these colored sections right here. These make up. These are 171 pieces in total and all 171 of those pieces which have to be welded together and sealed. Uh, you know either hand cranked or welded, with with a robot or whatever all of those pieces have now been replaced into just two pieces of metal.

I mean that is so cool. That's freaking awesome uh over 1600 fewer welds, that's just so incredible! This is why you see these metrics move so much. Okay, where is the uh margin without uh? I mean i'll, just calculate it. If i need to, i think i will do that uh, but we'll go through it first, so automotive sales, okay, here we go so we've got automotive sales over here 15.5 bill regulatory credits.

Oh there was a double in reg credits. You see that that's a that's! A big push there in reg credits. What happened there uh just q1, seems to be high in reg credits. That's quite interesting! I wonder how much that's going to explain of our beat there: energy generation and storage.

We saw that okay cost of revenues, okay, research and development still spending more money on r d, which obviously you like to see wow. Look at this look at this plummet. You see this general and administration. I think they said something about stock-based compensation.

Let me see that was right here. I saw that uh. No, that's just excluding stock-based compensation, okay, so for some reason, sgna plummeted. Er take a look at that.

So this is your sg a for q4. It was only 992 at the end of or at the end of q1 over here in total, which that's quite interesting to me. Uh, you know we were about one and a half billion dollars of expenses and now we're down to uh 2.29. That's that's pretty incredible! Someone wall street aholics here says: margin without credits is 30.

That's incredible! That's the first time then we've gotten to that. That's really really good! Thank you for that. You haven't done the math. Yet looking here, eps look at that earnings per share three dollars and 20 cents uh.

I i like to use the diluted so 2.86 over here: okay, so net income net income positive and then it comes to non-controlling interest. Okay, that's fine! Here's your balance sheet! So they've got 17.5 billion dollars in cash, which is roughly the same as what they had at the end of last quarter, and this is despite the fact that they opened two new factories. So, let's see here, prepaid customer expenses prepaids went up a little bit. Inventory inventories going up a little bit: hey kathy's, going to be looking at inventory inventory ticking up a bit probably has to do again with those new factories as well, because they got to be stocked with inventory right, so you're going to buy more current liabilities.

Wow current liabilities are in the neighborhood of 11 uh. These are actually, these are i'm sorry, just accounts payable. Current liabilities are actually oh look at that. Current liabilities are 21 billion dollars, but you have um.

Let's see here, 17.5 billion in cash you've got 6.6 of accounts, receivable 6.6 of accounts receivables right here. So if i just do cash plus accounts receivable, that's about 24 billion dollars, which is more than enough to cover their current liabilities and almost enough to get rid of all of their liabilities in total dread. 30 bill right here. So, okay, good! Let's see if there's anything else, that's really entertaining for us uh stock based compensation down a little bit in q1 compared to q1 of 2021.

That's quite interesting to see a decline in stock based compensation from q1 to q1. It's normal to see a decline from q4 to q1 because of end of the year bonuses, but that's quite interesting stock based car. Okay, let's see here, ah there it is there's the number i wanted so folks this. This is the big one right here.

So this is the line right here: automotive gross margin without uh credits, so the big beat on credits over here was was because for some reason, uh tax credits went up substantially, there q1 or whatever they were able to sell. You know maybe the s rex for or whatever but q1234 take a look at this gross margin. With out credits, you went from 22 to 25.8 to 28.8 to 29.2 to 30 people thought elon. Musk was crazy when in 2018 he said we were going to hit 30 and he did it there.

It is that's really really good news, so absolutely great all right anything else to see here. You know no there's not. So i just have to say one of the things that's so beautiful about tesla is uh. Look as long as the consumer keeps buying it.

I continue to believe that it's it. It is a an opportunity to invest in what will prove to be a longer run. Inflation, hedge now i've talked a lot about inflation, hedges on the channel like uh consumer staples, whether it's costco or the weed etf w-e-a-t uh. Personally, i and i've talked about this before.

Personally, i don't like investing in those, because i'll show you exactly why, with a little picture that i'm gon na draw so usually when you enter a an inflationary time, what happens? Is you get this rotation from uh tech uh over to what people think are hedges right and those are gon na? Be your staples, your costco procter and gamble your commodities right like the weed, etf and so uh, that's great! But what happens when that inflation ends up going away? You know probably the end of next year, 2023 uh, beginning of 2024 right, we're gon na see that rotation and uh anybody who traded into this sector as a hedge has. You got to be quick and you got to be nimble and you got to be able to rotate back over. You could do that. Personally, i don't like trading that much uh.

So to me, i'm ta i've been taking the opportunity to load up specifically more on tesla uh tesla trade desk, a few other names, but but those are my big ones. I don't know for some reason. I like the teas, so uh it'll be interesting. We'll we'll see but uh there's nothing in this earnings report.

That makes me nervous so far i mean that is just the investor presentation. Let me see what the suits are saying so uh elon musk, let's see don't censor me in twitter, shareholder and tesla, but elon musk, colin, don't censor me in tesla, shareholder, lawsuit, uh, there's a reuters report. What's this theory, i think this is the has to do with the old funding secured lawsuit, which has been that's been another ride of a story. Elon musk on wednesday urged a feather federal judge not to prevent him from publicly discussing a lawsuit, accusing him of deceiving tesla shareholders by tweeting in 2018 about taking the company private right.

So i actually read that uh entire uh opinion from the judge uh. In fact, i'll pull it up right here and uh. It's it's quite interesting uh. I should probably do a video about it, but uh.

It really seems like it comes a lot of. It comes down to this new york times, piece that um. Oh, i don't know why it's all glitchy no hold on. Ah, i don't know why it looks like that hold on.

I will try again. Oh it's being weird anyway um there we go uh new york times, piece that uh basically alleged that uh uh. Basically, funding was look at that the judge says: funding was far from secure and people were concerned about elon's drug use during the time uh and apparently musk tweeted this, while driving himself to the airport like what uh yeah. So i don't know, maybe that might be worth a separate video.

Let's see if there's anything else, the suits are saying here so uh tesla, profit tied to software will accelerate yep good we'd like to hear that if i go to t live, i could probably learn a little bit more. Yes, here we go okay, so yeah tesla's regulatory credits, more than double of that from the fourth quarter and uh. Some auto reporters are saying that this is a sign that the other automotive companies are even further behind than we thought. Tesla's solar deployments fell sharply because of the import concerns.

We saw that solar industry has faced a bevy of logistic constraints and trade obstacles. Yes, on the cyber truck, we got one line: making progress uh, let's see: okay, oh tesla, touts in its letter how it delivered the first made in texas model y suvs at its recent cyber rodeo event, though, texas restricts direct sales, we're still very interested in how The company structured those deliveries to get around the state law quite interesting, uh tesla reported better than expected. First quarter result: it's buoyed by strong demand for its evs among ongoing supply chain challenges. So we've gone through all this bloomberg intelligence says: tesla may move to investment grade as early as q2 behind notable operational performance in q1 under very challenging conditions in automotive markets.

Credit defaults on uh credit default swaps on tesla signal high grade risk, with our long-term view that the ev manufacturer can approach volkswagen and worthiness wow some bond upgrades, but that's that's great tesla - continues to add to its growing war chest. We also saw that uh, the higher reg credits um talked about the insurance, lousy solar quarter; yes, okay, yeah, no, otherwise, not much here in information that we haven't yet covered. Let's see, let's say: there's one: no, okay, good, yeah, wow, that's very exciting! So congratulations! Tesla shareholders, usually the stock, goes down after earnings it'll, be interesting to see what happens in the earnings call. So that's always fun.

Listening to elon in the earnings call, it might be i'll. Probably do a summary of the earnings call, but we'll see so uh. Okay, good! Well, there you have it. The earnings call is in about 53 minutes uh, given that they're, usually a little bit late, probably be in about an hour so uh, we'll uh, we'll see you folks.

I will keep working on this studio, which is a disaster right now and uh. Oh remember, to check out the programs on building your wealth. That coupon code expires today want to be part of the private live streams and all the programs of building wealth and new lectures coming, especially our new series, a opportunity. Uh course members are getting first dibs, so check out that code down below i'm at kevin.com streamyout.

For streamyard i'll see you the next one thanks bye.