Tesla's Q3 2024 earnings call highlighted strong delivery records, profitability, and advancements in autonomous technology, despite some challenges with ASP reductions and regulatory delays. The company remains optimistic about future growth and technological advancements.

Company Guidance

In Tesla's Q3 2024 earnings call, the company provided comprehensive guidance, highlighting its record achievements and future projections. Tesla reported a record quarter with $6.3 billion in operating cash flows and record deliveries despite industry-wide declines. Elon Musk emphasized the production of their seventh million vehicle and anticipated a 20%-30% growth in vehicle deliveries for 2025, contingent on external factors. The energy storage business is flourishing, with the Lathrop Megapack factory reaching a 40 GWh annual run rate and another factory in Shanghai set to begin with a 20 GWh run rate in Q1 2025. Tesla aims to deliver affordable models in the first half of 2025 and achieve volume production of the Cybercab by 2026, with a target of producing 2 to 4 million units annually. The company is quickly advancing its 4680 cell technology to become the most cost-competitive in North America. On the autonomy front, Tesla expects significant improvements with FSD version 12.5 and version 13, aiming for unsupervised driving by Q2 next year. The company also plans to roll out ride-hailing services in Texas and California in 2025, subject to regulatory approval. Tesla continues to focus on cost reduction and efficiency, achieving its lowest cost per vehicle in Q3 2024, and plans to increase AI and energy infrastructure investments, with CapEx expected to exceed $11 billion for the year.

Record Deliveries Amidst Industry Decline

Tesla reported record deliveries in Q3 2024, despite industry-wide declines in order volumes.

Profitable in Challenging Environment

Tesla remains profitable despite a challenging automotive environment, marking a record Q3 for the company.

Energy Storage Business Growth

Strong demand for Megapack and Powerwall, with the Lathrop Megapack factory reaching a 40 GWh annual run rate.

Autonomous Vehicle Milestones

Successful operation of 50 autonomous vehicles, including Cybercabs and Model Ys, with no incidents.

FSD Improvements

Significant improvements in Full Self-Driving (FSD) software, with expectations to surpass human driving safety in Q2 2025.

Automotive Revenue Growth

Automotive revenues increased both quarter-over-quarter and year-over-year, with record operating cash flows of $6.3 billion.

Strong Energy Margins

Energy margins hit a record at more than 30%, with expectations to more than double deployments by the end of the year.

Service Improvements

Enhancements in service operations, including opening nearly 70 new locations and expanding existing service centers.

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Tesla (TSLA) Earnings, Revenues Date & History

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TSLA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 22, 2025	2024 (Q4)	0.76 / -	0.71	―	―	―
Oct 23, 2024	2024 (Q3)	0.59 / 0.72	0.66	9.09% (+0.06)
Jul 23, 2024	2024 (Q2)	0.61 / 0.52	0.91	-42.86% (-0.39)
Apr 23, 2024	2024 (Q1)	0.49 / 0.45	0.85	-47.06% (-0.40)
Jan 24, 2024	2023 (Q4)	0.73 / 0.71	1.19	-40.34% (-0.48)
Oct 18, 2023	2023 (Q3)	0.73 / 0.66	1.05	-37.14% (-0.39)
Jul 19, 2023	2023 (Q2)	0.79 / 0.91	0.757	20.21% (+0.15)
Apr 19, 2023	2023 (Q1)	0.85 / 0.85	1.073	-20.78% (-0.22)
Jan 25, 2023	2022 (Q4)	1.13 / 1.19	0.847	40.50% (+0.34)
Oct 19, 2022	2022 (Q3)	1.00 / 1.05	0.62	69.35% (+0.43)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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TSLA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 23, 2024	$213.65	$260.48	+21.92%
Jul 23, 2024	$246.38	$215.99	-12.33%
Apr 23, 2024	$144.68	$162.13	+12.06%
Jan 24, 2024	$207.83	$182.63	-12.13%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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