Tesla (TSLA) is about to release Q1 2024 financial results on Tuesday, April 23, after the markets close.
Tesla Q1 2024 deliveries While Tesla is an “AI/robotics” company, according to CEO Elon Musk, its automotive deliveries remain the biggest drivers of financial performance by far.
Tesla already disclosed its Q1 vehicle delivery and production numbers: These results were quite disastrous for Tesla as deliveries are down year-over-year for the first time in a long time.
Tesla Q1 2024 revenue For revenue, analysts generally have a pretty good idea of what to expect, thanks to the delivery numbers.
The Wall Street consensus for this quarter is $22.220 billion, and Estimize, the financial estimate crowdsourcing website, predicts a slightly lower revenue of $22.202 billion.
The crowdsourcing estimate is rarely lower than Wall Street consensus, but this quarter is special with the rare big delivery miss compared to expectations.
For Q1 2024, the Wall Street consensus is a gain of $0.49 per share, while Estimize’s prediction is slightly higher with a profit of $0.52 per share.
Tesla had earnings of $0.85 per share during the same period last year.
The Q1 2024 financial results from Tesla (TSLA) will be announced on Tuesday, April 23, following the close of the markets. Following the results, there will be a conference call and Q&A with Tesla’s management, as is customary.
We’ll look at what the street and individual investors anticipate from the quarterly results here.
Tesla deliveries in Q1 2024.
According to CEO Elon Musk, Tesla is a “AI/robotics” company, but its car deliveries are still by far the main contributors to its financial performance.
Tesla has already released its Q1 vehicle delivery and production figures:.
For Tesla, these results were quite dire since, for the first time in a long time, deliveries are declining year over year.
Every time earnings results are being reported, delivery and production numbers are slightly modified.
Tesla revenue in Q1 2024.
Because of the delivery numbers, analysts usually know fairly well what to expect in terms of revenue.
More challenging, though, is the fact that Tesla’s average price per vehicle is fluctuating a lot these days as a result of regular price reductions and promotions in numerous markets.
This quarter’s revenue is expected to be slightly lower than the Wall Street consensus of $22.220 billion, according to Estimize, a website that crowdsources financial estimates.
The crowdsourcing estimate is rarely lower than Wall Street consensus, but this quarter is special with the rare big delivery miss compared to expectations.
For the last two years, these have been the estimates for Tesla’s revenue: actual results are in green, Wall Street consensus is in gray, and Estimize estimates are in blue.
earnings for Tesla in Q1 2024.
Since it devotes the majority of its funds to expansion, Tesla always aims to turn a profit every quarter, and for the past three years, it has been successful in doing so.
Like revenues, it has become more difficult to project earnings over the past year as price reductions have eaten into Tesla’s industry-leading gross margins, and the significant decline in deliveries during the most recent quarter will be extremely painful.
The Wall Street consensus for Q1 2024 is a gain of $0 per share, whereas Estimize is slightly more optimistic, predicting a profit of $0 per share.
During the same period previous year, Tesla earned $0.85 per share.
The earnings per share for the last two years are shown here, with actual results in green, Wall Street consensus in gray, and Estimize predictions in blue.
Additional anticipations for the analyst call and shareholder letter from TSLA.
In its shareholder letter and conference call with management after the results are released, Tesla always provides more information than just the financial results and addresses any concerns raised by shareholders.
Tesla uses the “Say Technologies” website to collect shareholder inquiries.
These are the most popular questions right now, which management is probably going to respond to:.
Is it possible that the next generation platform vehicles will be available in 2025, given that the production of compact vehicles will now begin in Austin?
The fact that Elon Musk has said he is uncomfortable with Tesla advancing AI and robotics if he doesn’t have a 25 percent voting stake should worry ordinary shareholders, right?
What is the number of cybertruck orders that are pending, and when do you think you will be able to complete all of the current orders?
When do you anticipate reaching the multimillion cell per week rate with 4680 cells, and what obstacles have you had to overcome?
When can we anticipate each of these locations to begin producing their initial products, such as the 4680, Semi, and next-generation vehicles, and when will Tesla begin building on the Giga Nevada and Giga Mexico expansions?
But there’s a chance the earnings call will get far more fascinating.
Given that the vote on Musk’s compensation package is approaching and is viewed primarily as a vote of confidence in the businessman, it is probable that the CEO will attempt to defend some of his recent actions, such as concentrating on Robotaxi and letting go of up to 20 percent of Tesla employees.
It ought to be a fascinating call.
