Q3 2024 Update 1 Highlights 03 Financial Summary 04 Operational Summary 06 Vehicle Capacity 07 Core Technology 08 Other Highlights 09 Outlook 10 Photos & Charts 11 Key Metrics 23 Financial Statements 25 Additional Information 31 2 H I G H L I G H T S S U M M A R Y Profitability $2.7B GAAP operating income in Q3 We delivered strong results in Q3 with growth in vehicle deliveries both sequentially and year-on-year, resulting in record third-quarter volumes. We also recognized our second- $2.2B GAAP net income ...

Tesla's Q3 earnings beat expectations, boosting stock after the Robotaxi announcement's disappointment.Strong margins and an uptick in 2024 sales growth buoyed investors' take on Tesla.Analysts said they're looking at fundamentals of Tesla's car business. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized fee ...

More than 15 years of professional investment experience in global equities across all sectors. My investment style is fundamental, bottom-up, long-term, and quality growth-oriented. I am seeking companies specializing in niche markets, with strong growth potential, a solid management team, a sound capital allocation policy, and, most importantly, reasonable valuation. I do not chase quarterly results, nor do I follow the herd mentality. I do not use short-term stock performance as the measure of a company' ...

Financial Data and Key Metrics - Record operating cash flows of $6.3 billion in Q3 [26] - Automotive revenues grew both quarter-on-quarter and year-on-year, despite a reduction in ASPs due to financing incentives [26] - Energy margins reached a record of more than 30% in Q3 [32] - CapEx for the quarter was $3.5 billion, with an expected annual CapEx exceeding $11 billion [34] Business Line Data and Key Metrics - Tesla produced its 7-millionth vehicle, achieving record deliveries in Q3 [3] - Energy storage business is growing rapidly, with strong demand for Megapack and Powerwall [3] - Full Self-Driving (FSD) contributed $326 million in revenues in Q3 [26] - Semi production is on track to start in the first half of 2026, with pilot builds in the second half of 2025 [53] Market Data and Key Metrics - China continues to outperform the U.S. and Europe by a factor of three in terms of EV adoption [27] - Tesla plans to roll out ride-hailing services in California and Texas next year, pending regulatory approval [18] Company Strategy and Industry Competition - Tesla is focused on building affordable models, with plans to deliver more affordable vehicles starting in the first half of 2025 [5] - The company aims for 20% to 30% vehicle growth next year, contingent on external factors [5] - Tesla is advancing its autonomy technology, with significant improvements in miles between interventions for FSD [8][9] - The company is also developing the Cybercab, targeting volume production by 2026 with a goal of 2 million units annually [6] Management Commentary on Operating Environment and Future Outlook - Tesla is navigating a challenging automotive environment but remains profitable [3] - The company expects to achieve unsupervised FSD by Q2 of next year, with safety levels surpassing human drivers [12] - Tesla is expanding its AI training capacity to support both FSD and Optimus, with no current compute constraints [19] - The energy business is seen as a significant opportunity, with plans to scale up to multiple terawatt hours per year in stationary storage [21] Other Important Information - Tesla is working on reducing the cost per vehicle, with Q3 marking the lowest cost per micro [32] - The company is expanding its service centers, with 70 new locations opened or planned in North America [46] - Tesla is also focusing on improving service efficiency through automation and better diagnostics [51] Q&A Session Summary Question: Is Tesla on track to deliver the more affordable model next year? - Tesla is on track to deliver more affordable models in the first half of 2025, aligning with its AI product roadmap [35] Question: When will Tesla release a $25,000 non-robotaxi model? - Tesla is not planning to release a $25,000 non-robotaxi model, as the future is focused on autonomous vehicles [36][37] Question: What is Tesla doing to alleviate long wait times at service centers? - Tesla is expanding service centers and improving efficiency through automation and better diagnostics [46][51] Question: What is the update on the Semi and FSD readiness? - Semi production is on track to start in the first half of 2026, with FSD expected to be ready for the Semi platform once the fleet is trained [53][59] Question: When will Tesla incorporate X and Grok in all vehicles? - Tesla plans to expand in-car functionalities, including access to X and Grok, as part of its autonomous vehicle strategy [61] Question: Will unsupervised FSD be available in California and Texas next year? - Tesla expects to achieve unsupervised FSD in California and Texas next year, pending regulatory approval [64] Question: What is the plan for 2025? - Tesla plans to launch cheaper models, expand energy storage, and continue advancing its AI and autonomy technologies [69][75] Question: What is the status of the Tesla Roadster? - The Tesla Roadster is still in development, with progress being made on the design, but it remains a lower priority compared to other projects [77] Question: How will the robotaxi rollout proceed? - Tesla plans to start with a company-deployed fleet and may allow customers to add their vehicles on a subscription model, with Hardware 3 potentially requiring upgrades [79][82] Question: How is Tesla utilizing its compute resources for AI? - Tesla is using its compute resources to train larger models and improve the reliability of its AI systems, with no current compute constraints [84][86] Question: What is the relationship between Tesla and xAI? - xAI has been helpful to Tesla in terms of scaling and training, but the two companies are focused on different problems, with Tesla concentrating on real-world AI applications [90][92]

Vehicle Production and Deliveries - Company produced approximately 1,314,000 consumer vehicles and delivered approximately 1,294,000 consumer vehicles through Q3 2024[101] - Automotive sales revenue increased $249 million, or 1%, in Q3 2024 compared to Q3 2023, driven by increased Model 3 and Model Y deliveries[118] Financial Performance - Total revenues for Q3 2024 were $25.18 billion, a $1.83 billion increase compared to the same period in 2023[102] - Net income attributable to common stockholders for Q3 2024 was $2.17 billion, a $314 million increase compared to the same period in 2023[102] - Gross margin for total automotive increased from 18.7% to 20.1% in Q3 2024, driven by lower vehicle costs and increased FSD and regulatory credits revenue[128] - Gross margin for energy generation and storage increased from 24.4% to 30.5% in Q3 2024, due to cost reductions and higher margins from energy storage products[131] - Interest income increased by $147 million (52%) in Q3 2024 and $394 million (54%) in the nine months ended September 30, 2024[136] - Other (expense) income, net changed unfavorably by $307 million in Q3 2024 and $459 million in the nine months ended September 30, 2024[137] - Provision for income taxes increased by $434 million (260%) in Q3 2024 and $652 million (87%) in the nine months ended September 30, 2024[138][139] Cash and Investments - Company ended Q3 2024 with $33.65 billion in cash and cash equivalents and investments, a $4.55 billion increase from the end of 2023[103] - Cash and cash equivalents and short-term investments totaled $18.11 billion and $15.54 billion, respectively, as of September 30, 2024[147] - Net cash provided by operating activities increased by $1.22 billion to $10.11 billion in the nine months ended September 30, 2024[149] Capital Expenditures - Capital expenditures amounted to $8.56 billion during the nine months ended September 30, 2024, a $1.96 billion increase compared to the same period in 2023[103] - Company expects capital expenditures to exceed $11.00 billion in 2024 and be between $8.00 to $10.00 billion in each of the following two fiscal years[112] - Capital expenditures expected to exceed $11.00 billion in 2024 and be between $8.00 to $10.00 billion in the following two fiscal years[144] - Capital expenditures for the nine months ended September 30, 2024, were $8.56 billion, primarily for AI-related projects and global factory expansion[150] Energy Storage and Generation - Company deployed 20.41 GWh of energy storage products through Q3 2024[101] - Energy generation and storage segment revenue increased $817 million, or 52%, in Q3 2024 compared to Q3 2023[117] - Energy generation and storage revenue increased by $817 million (52%) in Q3 2024 compared to Q3 2023, primarily due to higher Megapack and Powerwall deployments[122] Automotive Regulatory Credits - Automotive regulatory credits revenue increased $185 million, or 33%, in Q3 2024 compared to Q3 2023[120] Services and Other Revenue - Services and other revenue increased by $624 million (29%) in Q3 2024 compared to Q3 2023, driven by growth in non-warranty maintenance, collision, used vehicle, paid Supercharging, insurance services, and part sales[121] Cost Management - Cost of automotive sales revenue decreased by $2.32 billion (5%) in the nine months ended September 30, 2024, due to lower raw material costs, freight, and duties, partially offset by higher costs for Cybertruck and Model 3 production[125] - Research and development expenses decreased by $122 million (11%) in Q3 2024, primarily due to reduced vehicle program costs, partially offset by increased AI-related expenses[132] - Selling, general, and administrative expenses decreased by $67 million (5%) in Q3 2024, driven by lower employee and marketing costs[134] - Restructuring actions in Q2 2024 resulted in $583 million of employee termination expenses[135] Indebtedness and Foreign Exchange - Outstanding indebtedness as of September 30, 2024, totaled $7.42 billion, with $2.12 billion current[145] - Potential adverse changes in foreign currency exchange rates of 10% could result in a gain or loss of $1.05 billion at September 30, 2024[154]

Wednesday, October 23, 2024Markets closed off session lows today — which were -620 points on the Dow earlier this afternoon — but have rebounded somewhat. The Dow finished the day -409 points, -0.96%, while the S&P 500 nearly mirrored that output, -0.92%. The Nasdaq dropped the biggest percentage, -1.60%, while the small-cap Russell 2000 rolled off -0.79%.Economic reports were fairly minor today, with September Existing Home Sales matching estimates at 3.84 million seasonally adjusted, annualized units, dow ...

Elon Musk said he hopes to launch a service that will let people hail self-driving Tesla vehicles in California and Texas sometime in 2025 — and claims his company has already been testing the service in the Bay Area with employees.The comments, made Wednesday on Tesla’s third-quarter earnings call, go farther than what Musk promised two weeks ago at its Cybercab unveiling event. On that stage, Musk promised that Model 3 and Model Y owners would be able to use an “unsupervised” version of Tesla’s Full Self- ...

The primary goal of the Cash Flow Kingdom Income Portfolio is to produce an overall yield in the 7% - 10% range. We accomplish this by combining several different income streams to form an attractive, steady portfolio payout. The portfolio's price can fluctuate, but the income stream remains consistent. Start your free two-week trial today!Tesla, Inc. (NASDAQ: TSLA ) reported its most recent earnings results on Wednesday afternoon. The company beat profit estimates , showing a small year-over-year improveme ...

For the quarter ended September 2024, Tesla (TSLA) reported revenue of $25.18 billion, up 7.9% over the same period last year. EPS came in at $0.72, compared to $0.66 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $25.55 billion, representing a surprise of -1.45%. The company delivered an EPS surprise of +24.14%, with the consensus EPS estimate being $0.58.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ex ...

Tesla (TSLA) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.66 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 24.14%. A quarter ago, it was expected that this electric car maker would post earnings of $0.62 per share when it actually produced earnings of $0.52, delivering a surprise of -16.13%.Over the last four quarters, the compan ...