Tesla (TSLA) is about to launch Q3 2024 monetary outcomes on Wednesday, October 23, after the markets shut. As common, a convention name and Q&A with Tesla’s administration are scheduled after the outcomes.
Right here, we’ll have a look at what the road and retail traders anticipate for the quarterly outcomes.
Tesla Q3 2024 deliveries
Elon Musk says that Tesla is now an AI/Robotics firm, however its automotive enterprise nonetheless drives its financials.
Earlier this month, Tesla disclosed its Q3 2024 car manufacturing and deliveries:
| Manufacturing | Deliveries | Topic to working lease accounting | |
| Mannequin 3/Y | 443,668 | 439,975 | 3% |
| Different Fashions | 26,128 | 22,915 | 1% |
| Whole | 469,796 | 462,890 | 3% |
The deliveries have been roughly according to Wall Avenue’s expectations.
Now that vitality storage is beginning to contribute to Tesla’s income extra meaningfully, the corporate has additionally began sharing deployment in its quarterly supply and manufacturing numbers.
Tesla confirmed that it deployed 6.9 GWh of vitality storage capability in Q3 2024.
Tesla Q3 2024 income
For income, analysts typically have a fairly good concept of what to anticipate, due to the supply numbers, and now the vitality storage deployment information.
Nevertheless, Tesla’s common value per car is altering loads lately because of frequent value cuts and reductions throughout many markets, which makes issues tougher.
The Wall Avenue consensus for this quarter is $25.468 billion, and Estimize, the monetary estimate crowdsourcing web site, predicts a slighty larger income of $25.541 billion.
Listed here are the predictions for Tesla’s income over the previous two years, with Estimize predictions in blue, Wall Avenue consensus in grey, and precise outcomes are in inexperienced:
Final quarter, Tesla achieved a major $1 billion beat on income expectations.
Apparently, the expectations are actually roughly the identical income as Tesla achieved final quarter regardless of Tesla delivering nearly 20,000 further autos.
The distinction makers are seemingly the truth that Tesla deployed about 3 GWh much less vitality storage, which contributed $3 billion to income final quarter and the regulatory credit score gross sales, that are onerous to foretell.
Tesla Q3 2024 earnings
Tesla at all times makes an attempt to be marginally worthwhile each quarter because it invests most of its cash into progress, and it has been profitable in doing so during the last three years.
Nevertheless, like revenues, it has been tougher to estimate earnings during the last 12 months with value cuts and backed loans digging into Tesla’s industry-leading gross margins.
For Q3 2024, the Wall Avenue consensus is a achieve of $0.60 per share, which Estimize’s crowdsourced prediction.
Tesla had earnings of $0.66 per share throughout the identical interval final 12 months.
Listed here are the earnings per share during the last two years, the place Estimize predictions are in blue, Wall Avenue consensus is in grey, and precise outcomes are in inexperienced:
Tesla has not often crushed EPS estimates during the last 12 months, and the distinction maker is commonly Tesla’s regulatory credit score gross sales.
Different expectations for the TSLA shareholder’s letter and analyst name
Past the monetary outcomes, Tesla at all times offers broader updates and solutions shareholder questions in its shareholder letter and convention name with administration following the discharge of the outcomes.
Tesla gathers questions from shareholders from the “Say Applied sciences” web site.
Listed here are the at the moment most upvoted questions, that are prone to be answered by administration, and my feedback on them:
Is Tesla nonetheless on monitor to ship the extra reasonably priced mannequin subsequent 12 months, as talked about by Elon earlier, and the way does it align along with your AI and product roadmap?”
Musk’s normal reply to product questions on earnings calls is “this isn’t the place for product bulletins”, however the truth that the query additionally mentions Tesla’s AI shift could lead on him to remark and make clear Tesla’s plans for autos with steering wheels.
When can we anticipate Tesla to present us the ~$25K, non-robotaxi, common automotive mannequin?
As we’ve beforehand reported, this car program was canceled by Musk earlier this 12 months and changed by new car packages primarily based on Mannequin 3 and Mannequin Y that will probably be dearer than $25,000, however cheaper than the present ~$40,000 variations of those autos.
What’s Tesla doing to alleviate lengthy ready instances on service facilities ?
Extra of a consumer-related query, however not a foul one. Tesla is certainly having points with unacceptable wait instances at service facilities in some areas. It has been a recurring drawback for Tesla, however it grew to become a much bigger drawback with the layoffs earlier this 12 months.
If Musk offers once more his reply of “one of the best service isn’t any service”, individuals are going to begin taking it with a distinct which means.
What’s the plan for 2025?
That is actually the fourth most upvoted query.
When will Tesla incorporate X and Grok in all the Tesla Autos?
And that is the fifth most upvoted one.
Tesla then takes questions from Wall Avenue analysts, who I hope will probably be questioning Musk’s all-in wager on self-driving and why Tesla can’t share any information about its FSD program to show the progress it’s claiming to be attaining, however I gained’t maintain my breath.
The main target will seemingly be on gross margins and the way a lot they’re affected by the backed rates of interest and reductions.
Additionally, as the percentages of Trump profitable the elections are growing, I anticipate some will have a look at the potential impression of his insurance policies on Tesla’s very profitable enterprise of promoting regulatory credit.
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