On July 28th, 2020, Standard & Poor's upgrades Tesla's rating to B+ from B- reflects the California EV maker has strong business conditions and improved indicators. S&P thinks Tesla's competitive position continues to strengthen with improved cost absorption on larger volumes, also with higher operational efficiency, process automation.
On July 22th, Tesla (TSLA) reported an EPS of Adj US$2.18 and a US$6.04 billion revenue for Q2 2020, exceeding Wall Street's estimates.
Highlights from the Q2 earning
Tesla reports Q2 Model S/X deliveries was 10,614 and Model 3/Y Deliveries 80,277
Tesla says it's continuing to build capacity for Model Y at Gigafactory Berlin and Gigafactory Shanghai
Tesla installing more machinery at Fremont Factory, which is expected to increase total Model 3/Model Y capacity from 400,000 to 500,000 units per year
Storage deployments increased sequentially to 419 MWh, driven by increases in both Powerwall and Megapack