Tesla (NASDAQ:TSLA) posted its Q3 2024 earnings report after markets closed in the present day. The outcomes, which have been mentioned within the Q3 2024 Replace Letter, have been launched after the closing bell on Wednesday, October 23, 2024.
Throughout the third quarter, Tesla produced a complete of 469,796 autos, comprised of 443,668 Mannequin 3/Y and 26,128 different fashions. Q3 deliveries have been listed at 462,890 autos, comprised of 439,975 Mannequin 3/Y and 22,915 different fashions.
Following are the important thing outcomes of Tesla’s Q3 2024 earnings outcomes.
Q3 2024 Shareholder Replace → https://t.co/sXBSeLibSL
— Highlights
– Produced our 7 millionth car at Fremont manufacturing unit!
– Preparations for brand spanking new autos stay underway (together with extra reasonably priced fashions), which we’ll start launching within the first half of 2025
– Document gross… pic.twitter.com/is1UhqdH7r
— Tesla (@Tesla) October 23, 2024
Income
Within the third quarter of 2024, Tesla posted whole revenues of $25.18 billion, with automotive revenues at $20.02 billion. Compared, analysts polled by FactSet anticipated Tesla’s Q3 2024 income to hit $25.47 billion. Tesla’s company-compiled consensus listed a complete income of $25.29 billion.
Earnings Per Share
Tesla’s non-GAAP earnings per share for the third quarter of 2024 was listed at $0.72, whereas GAAP EPS for Q3 2024 was listed at $0.62. Analysts polled by FactSet anticipated Tesla to publish a revenue of $0.59 per share, whereas Tesla’s company-compiled consensus listed an estimated EPS of $0.60 per share.
Profitability
Tesla posted $2.7 billion GAAP working revenue within the third quarter. The corporate additionally posted $2.2 billion of GAAP internet revenue and $2.5 billion of non-GAAP internet revenue in Q3 2024.
Money
Tesla posted an working money move of $6.3 billion within the third quarter, in addition to free money move (FCF) of $2.7 billion. The electrical car maker additionally famous that it noticed a $2.9 billion enhance in its money and investments within the third quarter to $33.6 billion. This can be a new document for the corporate.
COGS
Tesla is already a really environment friendly automaker, however the firm continues to be optimizing its operations. As per the Q3 2024 Replace Letter, Tesla’s value of products offered (COGS) per car got here right down to its lowest degree ever at ~$35,100 within the third quarter.
Operational Milestones
Tesla posted quite a lot of operational milestones within the third quarter. As per the Q3 2024 Replace Letter, Tesla elevated its AI coaching compute by over 75% in Q3 2024. The Cybertruck additionally grew to become the third best-selling EV in Q3 within the U.S., simply behind the Mannequin Y and Mannequin 3. Furthermore, over two billion miles have been pushed cumulatively on FSD (Supervised) as of Q3, with greater than 50% being on FSD V12.
Beneath is Tesla’s Q3 2024 Replace Letter.
TSLA-Q3-2024-Replace by Simon Alvarez on Scribd
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