Electric automaker Tesla confirmed it will be able to make a key debt payment by next month’s deadline, taking some pressure off CEO Elon Musk.

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The automaker reported free cash flow of $910 million noting, “We have sufficient cash on hand to comfortably settle in cash our convertible bond that will mature in March 2019” in its earnings release. ​​​​​

We have sufficient cash on hand to comfortably settle in cash our convertible bond that will mature in March 2019.

Tesla Fourth Quarter & Full Year 2018 Update 

FOX Business recently reported that the company was likely to meet this deadline, which had been a concern among investors. Shares have fallen 10 percent this year.

The disclosure comes amid mixed quarterly results. The company’s adjusted profit was $1.92, versus estimates of $2.20 per share. Slightly lower profits come as the company faced the reduction of a key federal tax credit at the outset of 2019.

However, Tesla said it expects to turn a profit in each quarter of 2019. In terms of revenue, the company beat expectations, reporting $7.23 billion in the fourth quarter, compared with estimates of $7.08 billion.

Ticker Security Last Change %Chg
TSLA TESLA INC. 308.77 +11.31 +3.80%

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