Tesla (NASDAQ:TSLA) posted its Q3 2024 earnings report after markets closed immediately. The outcomes, which have been mentioned within the Q3 2024 Replace Letter, have been launched after the closing bell on Wednesday, October 23, 2024.
In the course of 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 automobile at Fremont manufacturing facility!
– Preparations for brand 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 complete revenues of $25.18 billion, with automotive revenues at $20.02 billion. As 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 put up 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 web revenue and $2.5 billion of non-GAAP web revenue in Q3 2024.
Money
Tesla posted an working money circulate of $6.3 billion within the third quarter, in addition to free money circulate (FCF) of $2.7 billion. The electrical automobile maker additionally famous that it noticed a $2.9 billion enhance in its money and investments within the third quarter to $33.6 billion. It is a new file for the corporate.
COGS
Tesla is already a really environment friendly automaker, however the firm remains to be optimizing its operations. As per the Q3 2024 Replace Letter, Tesla’s value of products offered (COGS) per automobile got here right down to its lowest stage ever at ~$35,100 within the third quarter.
Operational Milestones
Tesla posted quite a few 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 turned 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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