Published , by Donovan Erskine
Published , by Donovan Erskine
There was a lot to learn in Tesla’s (TSLA) Q1 2022 earnings report. This included new details on the company’s Solar business. It was in this report that Tesla shared that deployments of its Solar Retrofit and Solar Roof fell by a sharp 48 percent year-over-year.
Tesla (TSLA) published its Q1 2022 earnings report earlier today, detailing the company’s business over the previous quarter. On page nine of the PDF, the company shares insight into its Solar business. Between Solar Retrofit and Solar Roof, Tesla saw its Solar deployments hit 48 MW, a 48 percent decrease in year-over-year comparisons. The company provided further details in the report.
Solar deployments decreased by 48% in Q1 to 48 MW. This reduction was caused by
import delays beyond our control on certain solar components. Solar Roof deployments continued to grow YoY. Cash & loan sales account for nearly all deployments.
Despite the unimpressive Solar numbers, Tesla’s (TSLA) Q1 2021 earnings report showed a lot of growth and positive news for shareholders, as evident in the fact that the company’s stock value climbed over $1,000 in value in after hours trading per the Yahoo stock quote. The stock was valued at $977.20 when markets closed at 4 p.m. ET.
The steep fall in Solar deployment is undeniably bad news, but it’s not enough to overcome what has been a huge quarter for Tesla (TSLA). The latest earnings report showed off a 32.9% automotive gross margin and $18 billion on the company’s balance sheet. For the latest Tesla news stories, Shacknews is your place.