Tesla’s (NASDAQ:TSLA) Q3 2024 earnings name comes on the heels of the corporate’s This autumn and FY 2024 Replace Letter, which was launched after the closing bell on January 29, 2025.
Tesla’s This autumn 2024 outcomes:
- Earnings Per Share (GAAP): $0.66 per share
- Earnings Per Share (Non-GAAP): $0.73 per share
- Working Earnings: $7.1 billion GAAP; $7.1 billion GAAP web revenue in 2024; $2.3 billion in This autumn together with $0.6 billion mark-to-market achieve on digital belongings.
- Whole Revenues: $25.7 billion
- Whole Automotive Revenues: $19.80 billion
This autumn & FY 2024 Earnings Name at 4:30pm CT immediately https://t.co/uFCg69a6tN
— Tesla (@Tesla) January 29, 2025
The next are dwell updates from Tesla’s This autumn and FY 2024 earnings name. I will likely be updating this text in real-time, so please maintain refreshing the web page to view the newest updates on this story. The primary entry begins on the backside of the web page.
17:41 CT – And that closes Tesla’s This autumn and FY 2024 earnings name! Thanks a lot for becoming a member of us, and see you subsequent quarter!
17:40 CT – Dan Levy of Barclays asks about Trump’s anti-EV mandate and Elon Musk’s view on it. The CEO famous that at this level, sustainable transport is inevitable. “At this level I believe sustainable transport is inevitable. You may’t cease the arrival of electrical automobiles. It’s gonna occur. The one factor holding again electrical automobiles is vary, and that may be a solved downside,” Musk mentioned.
17:37 CT – Pierre Ferragu of New Road Analysis requested about Tesla’s plans to deploy robotaxis on June. He wonders if he can drive all the way down to Texas in June to check it. Musk mentioned certain, and on the time, Tesla can be utilizing its personal fleet for its preliminary autonomous ride-hailing program. Vehicles received’t be from particular person house owners.
Musk additionally predicts that Tesla house owners will be capable of add automobile their automobiles to the robotaxi fleet by subsequent 12 months.
Tesla can be working towards FSD Unsupervised which is able to enable individuals to test their emails, texts, and many others., whereas the automobile is in movement, however the firm may be very cautious. Tesla has seen that persons are turning off FSD Unsupervised to test their texts.
17:30 CT – Adam Jonas of Morgan Stanley requested if Elon Musk nonetheless doesn’t imagine in Lidar. Elon Musk says he nonetheless doesn’t. “Clearly, people drive with out taking pictures lasers out of their eyes,” Musk joked. He additionally defined that he’s not anti-Lidar per se. He’s simply anti-Lidar on the subject of autonomous automobiles.
17:25 CT – As for FSD in China, Musk famous that coaching movies in China can’t be exported out. Tesla determining how one can practice FSD Unsupervised in China. One of many challenges is bus lanes, that are very complicated in China.
“Hopefully, we will have Unsupervised FSD in different nations subsequent 12 months,” Musk mentioned.
17:18 CT – Analyst questions begin with Bernstein. He asks Elon Musk about what he’s doing to push Tesla’s administration group to speed up the corporate’s applications. Musk famous that Tesla is engaged on perfecting real-world AI. “I spend a number of time with the Tesla AI group and the Tesla Optimus group,” he mentioned.
Musk famous that there are a lot of challenges with Optimus and automobile autonomy, however the items are there. He predicts Europe will likely be a problem for FSD Unsupervised. FSD Unsupervised is anticipated to be offered to the EU within the Netherlands in Might, with a launch in all probability subsequent 12 months.
17:15 CT – A query about HW3 automobiles was requested. Tesla famous that the corporate just isn’t giving up on HW3. Tesla remains to be engaged on HW3 however updates will path HW4 releases.
“We’re going to should improve {Hardware} 3 for individuals who purchased FSD. That’s the sincere reply. It’s going to be painful and troublesome however that’s what we’re going to should do,” Musk admitted.
One other query was requested if Tesla has given up on Photo voltaic Roof. Tesla famous that it has not. Musk famous that Tesla has discovered development by distributing Photo voltaic Roof to the roofing trade.
17:14 CT – One other query is requested, this time concerning the Tesla Semi and the way it will have an effect on income and scale. Tesla famous that preparations for manufacturing are ongoing, and that manufacturing is anticipated to start out late this 12 months from Reno. He additionally thinks the Semi will likely be extremely useful with FSD Unsupervised.
Musk famous that the USA really has a scarcity of truck drivers. And truck drivers are human, so that they get drained. “I’ve a number of respect for truck drivers, as a result of it’s a troublesome job,” Musk mentioned.
He famous that extra persons are leaving trucking than these getting into it. With this in thoughts, autonomy is extraordinarily essential. “It’s a a number of billion-a-year alternative,” Musk mentioned. That mentioned, the CEO additionally famous that “all of that is gonna pale compared to Optimus.”
17:10 CT – Musk reiterated that Optimus will likely be used at Tesla factories first, doing tedious duties that nobody needs to do.
Optimus manufacturing Model 2–perhaps beginning mid-next 12 months–will likely be designed for 10,000 models a month vs 1,000 models a month. Model 3 is for 100,000 models per thirty days, and with Model 2, Optimus robots could also be delivered to different firms.
“Demand won’t be an issue, even at a excessive value,” Musk mentioned. He additionally famous that at a million models per 12 months, Optimus’ manufacturing prices will likely be round or lower than $20,000.
17:04 CT – One other investor query requested if Optimus is designed locked. Musk famous that Optimus just isn’t design-locked in any respect. Nevertheless, the CEO famous that “it’s quickly evolving in a superb course.” Musk additionally famous that different firms are lacking real-world AI and manufacturing capabilities.
17:03 CT – The subsequent investor query requested if different carmakers are fascinated by licensing FSD. Elon Musk confirmed that sure, they’re. “What we’re seeing is at this level is important curiosity in licensing FSD,” the CEO famous. However earlier than FSD is licensed, Tesla has to achieve unsupervised FSD first.
17:01 CT – Investor questions start. The primary is about unsupervised FSD’s launch. Musk famous that he believes unsupervised FSD in California and Texas this 12 months, with many extra areas on the finish of 2025.
“We’re in search of a security degree that’s considerably safer than a human driver,” Musk mentioned. “The one factor holding us again is an extra in warning,” Musk mentioned.
17:00 CT – The CFO famous that Tesla’s development got here from Megapack and Powerwall. Each proceed to be production-constrained, which is able to hopefully be relieved by China, whose Shanghai Megafactory is producing Megapacks. Tariffs, nevertheless, are very possible, Tesla’s CFO famous.
16:58 CT – Tesla’s CFO takes the stage. He credit the Tesla group for its efficiency in This autumn. He additionally mentioned some milestones, corresponding to file deliveries within the Larger China market, which is extraordinarily aggressive.
Value discount continues as properly, regardless of elevated depreciation and different prices as the corporate ready for the brand new Mannequin Y. Total price per automobile now down beneath $35,000.
The brand new Mannequin Y will likely be produced in all factories supporting the automobile beginning subsequent month. That is unprecedented in Tesla historical past.
He notes that Tesla can be on monitor to launch a extra reasonably priced mannequin within the first half of 2025, and there will likely be extra fashions from there.
16:54 CT – Elon Musk predicts elevated demand in power enterprise. That mentioned, he does admit that Tesla at all times has to allocate its battery provide. “2025 is known as a pivotal 12 months for Tesla. It could be considered as crucial 12 months in Tesla historical past,” Musk mentioned.
16:50 CT – Elon, nevertheless, admitted that he’s making insane predictions. He cautions that his predictions aren’t essentially exact. That mentioned, the goal is to make 10,000 Optimus robots this 12 months. Elon is assured that Tesla can produce a couple of thousand this 12 months, with a objective to ramp Optimus manufacturing yearly.
Optimus’ capabilities are anticipated to be very spectacular. Musk notes that Optimus would be capable of play the piano or thread a needle. That’s how exact its arms can be. “Optimus will be capable of play the piano and be capable of thread a needle,” Musk mentioned.
16:48 CT – Tesla expects to launch Unsupervised FSD as a service in Austin in June. Musk famous that Tesla’s unsupervised FSD system is already working very properly within the firm’s factories.
“The automobiles aren’t simply driving to the identical spot. The automobiles are programmed to a lane” or a vacation spot parking spot for choose up from clients. Teslas will likely be within the wild–with nobody in them–in Austin in June,” Musk mentioned.
16:45 CT – Musk famous that Tesla’s present constraints are battery packs for now. “Issues are going to ballistic subsequent 12 months…and ’27, and ’28,” he mentioned.
Musk additionally said that the coaching wants for the Optimus robotic is 10x what’s wanted for a automobile. A humanoid robotic, nevertheless, in all probability has 1000 extra makes use of than a automobile.
“We dwell at this unbelievable inflection level in historical past,” Musk mentioned.
16:40 CT – “I do know I’ve been known as the boy who cried wolf. I’m telling you, there’s a rattling wolf this time. It could possibly drive you,” Musk joked, discussing FSD and his previous failed predictions about when unsupervised FSD will likely be prepared.
He additionally highlighted that whereas FSD behaved like a neophyte driver earlier than, it received’t be like that without end.
“The one people who find themselves skeptical are those that haven’t tried it (FSD),” he mentioned. He additionally highlighted the potential of the Tesla Community. “It really works tremendous within the US, and naturally, it would work simply properly wherever else. The truth of autonomy is upon us,” Musk added.
16:38 CT – Elon takes the stage. He states that Tesla ended the 12 months with a run fee of two million automobiles per 12 months. The Mannequin Y was the world’s best-selling automobile once more in 2024. He shares an optimistic outlook on Tesla’s autonomy program.
“Autonomy is 10X-ing,” Musk mentioned, including that he nonetheless sees a path towards Tesla turning into the world’s most respected firm by a mile. “There’s a path to that,” he mentioned.
Musk famous that Tesla laid the groundwork for autonomous automobiles and robots in 2024, and these efforts will proceed in 2025. “This may arrange what I believe will likely be an epic 2026 and a ridiculously good 2027 and 2028,” Musk mentioned.
16:34 CT – Right here we go! Tesla’s IR broadcasts that Tesla CEO Elon Musk and a variety of executives are current on the name.
16:30 CT – It’s time! It received’t be stunning if Tesla begins a bit late. That being mentioned, there’ll in all probability be fairly a variety of fascinating discussions on this name.
Only in the near past, Tesla posted the primary video of its FSD Unsupervised system working within the Fremont Manufacturing facility. That’s a really large deal.
16:25 CT – Hi there, and completely happy earnings day to everybody! Tesla missed a few of Wall Road’s expectations, however TSLA inventory appears to be doing fairly properly in immediately’s after-hours. It’s up about 2.3% as of writing.
As at all times, this could be a really fascinating earnings name.
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