Tesla (NASDAQ:TSLA) posted its Q2 2024 earnings report after markets closed immediately. The outcomes, which have been mentioned within the Q2 2024 Replace Letter, have been launched after the closing bell on Wednesday, July 23, 2024.
In the course of the second quarter, Tesla produced 410,831 automobiles and delivered 443,956 automobiles worldwide, comprised of 422,405 Mannequin 3 sedans and Mannequin Y crossovers. As compared, Wall Road analysts anticipated Tesla to report 438,019 automobile deliveries.
Q2 2024 Shareholder Replace → https://t.co/sXBSeLiJIj
— Highlights
We continued to broaden our automobile lineup globally, with new trims of Mannequin 3 & Y in addition to new S3XY paint choices.
Car
– Refreshed Mannequin 3 ramp continued efficiently– We additionally proceed to qualify extra… pic.twitter.com/2UuLhlmjvD
— Tesla (@Tesla) July 23, 2024
The next is a fast overview of Tesla’s Q2 2024 earnings outcomes.
REVENUE
Within the second quarter of 2024, Tesla posted complete revenues of $25.5 billion, with automotive revenues at $19.878 billion. FactSet consensus pointed to Tesla posting income of $24.5 billion in Q2 2024, whereas Zacks estimated Tesla to report $25.13 billion in income.
Total, Tesla’s complete income elevated 2% year-over-year, thanks partly to elements reminiscent of development within the firm’s power era and storage enterprise, Cybertruck deliveries, and better regulatory credit score income, amongst others.
EARNINGS PER SHARE
Tesla’s non-GAAP earnings per share for the second quarter of 2024 was listed at $0.52, whereas GAAP EPS for Q2 2024 was listed at $0.42. As compared, FactSet consensus steered that Tesla would see earnings per share of $0.61 and Zacks anticipated quarterly earnings of $0.62 per share.
PROFITABILITY
Tesla posted $1.6 billion GAAP working revenue in Q2 after restructuring and different prices of $600 million. The electrical automobile maker noticed $1.5 billion in GAAP internet revenue and $1.8 billion non-GAAP internet revenue in Q2 2024.
Tesla famous that its working revenue decreased year-over-year to $1.6 billion in Q2, leading to a 6.3% working margin. This was due partly to diminished S3XY automobile ASP, restructuring prices, and a rise in working bills largely pushed by AI tasks, to call a number of.
CASH
Tesla’s quarter-end money, money equivalents, and investments within the second quarter of 2024 was $30.7 billion. The corporate famous that the sequential improve of $3.9 billion was the results of optimistic free money circulate of $1.3 billion, which was, in flip, pushed by a list lower of $1.8 billion and partially offset by AI infrastructure capex of $600 million in Q2 2024.
Tesla, nonetheless, highlighted that it has “ample liquidity to fund our product roadmap, long-term capability growth plans, and different bills.” The corporate additionally famous that it “will handle the enterprise such that we preserve a powerful steadiness sheet throughout this unsure interval.”
Under is Tesla’s Q2 2024 Replace Letter.
TSLA-Q2-2024-Replace by Simon Alvarez on Scribd
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