Tag: Fiscal year

BusinessEnergy

Tesla Q3 Profits Plunge 37% Despite EV Tax Credit Sales Surge, Musk Pay Package Vote Looms

Tesla reported a 37% drop in quarterly profits despite surpassing delivery expectations, attributed to buyers rushing to secure expiring EV tax credits. The earnings slump comes as CEO Elon Musk seeks approval for a historic $1 trillion pay package amid growing shareholder skepticism.

Profit Decline Amid Sales Surge

Tesla experienced a 37% year-over-year profit decline in its most recent quarter, according to the company’s earnings report, despite achieving record vehicle deliveries. The automaker reportedly posted net income of $1.4 billion, down from $2.2 billion in the same period last year, while earnings per share of 50 cents fell short of the 54 cents analysts had projected.

by Nathan Cole
BusinessInfrastructure

Transnet Port Terminals Reports Record Performance and Operational Milestones

Transnet Port Terminals has reportedly set new operational records with significant improvements in container handling and automotive volumes. Sources indicate the state-owned operator broke 14 performance benchmarks across multiple terminals. Analysts suggest equipment upgrades and maintenance initiatives contributed to these gains.

Record-Breaking Performance Across Terminals

According to recent operational reports, Transnet Port Terminals (TPT) has achieved substantial performance improvements, breaking 14 operational records during the past six months. Sources indicate the terminals handled 100,158 twenty-foot equivalent units and 27,879 fully-built automotive units in a single week, with the Ngqura Container Terminal exceeding its daily moves by 60%.

by Nathan Cole