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 Revenue: $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 acquire on digital property.
- Complete Revenues: $25.7 billion
- Complete Automotive Revenues: $19.80 billion
This autumn & FY 2024 Earnings Name at 4:30pm CT in the present day https://t.co/uFCg69a6tN
— Tesla (@Tesla) January 29, 2025
The next are reside updates from Tesla’s This autumn and FY 2024 earnings name. I can 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 feel sustainable transport is inevitable. You possibly can’t cease the appearance of electrical automobiles. It’s gonna occur. The one factor holding again electrical automobiles is vary, and that may be a solved drawback,” Musk stated.
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 right down to Texas in June to check it. Musk stated certain, and on the time, Tesla could be utilizing its personal fleet for its preliminary autonomous ride-hailing program. Automobiles received’t be from particular person house owners.
Musk additionally predicts that Tesla house owners will have the ability to add automobile their automobiles to the robotaxi fleet by subsequent yr.
Tesla can also be working towards FSD Unsupervised which can enable folks to verify their emails, texts, and so forth., whereas the automobile is in movement, however the firm may be very cautious. Tesla has seen that individuals are turning off FSD Unsupervised to verify their texts.
17:30 CT – Adam Jonas of Morgan Stanley requested if Elon Musk nonetheless doesn’t consider in Lidar. Elon Musk says he nonetheless doesn’t. “Clearly, people drive with out capturing lasers out of their eyes,” Musk joked. He additionally defined that he’s not anti-Lidar per se. He’s simply anti-Lidar in relation to autonomous automobiles.
17:25 CT – As for FSD in China, Musk famous that coaching movies in China can’t be exported out. Tesla determining methods to practice FSD Unsupervised in China. One of many challenges is bus lanes, that are very advanced in China.
“Hopefully, we are able to have Unsupervised FSD in different international locations subsequent yr,” Musk stated.
17:18 CT – Analyst questions begin with Bernstein. He asks Elon Musk about what he’s doing to push Tesla’s administration crew to speed up the corporate’s applications. Musk famous that Tesla is engaged on perfecting real-world AI. “I spend plenty of time with the Tesla AI crew and the Tesla Optimus crew,” he stated.
Musk famous that there are lots of challenges with Optimus and automobile autonomy, however the items are there. He predicts Europe can be a problem for FSD Unsupervised. FSD Unsupervised is predicted to be introduced to the EU within the Netherlands in Could, with a launch most likely subsequent yr.
17:15 CT – A query about HW3 autos was requested. Tesla famous that the corporate shouldn’t be giving up on HW3. Tesla remains to be engaged on HW3 however updates will path HW4 releases.
“We’re going to need to 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 need to 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 progress by distributing Photo voltaic Roof to the roofing trade.
17:14 CT – One other query is requested, this time in regards to 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 predicted to start out late this yr from Reno. He additionally thinks the Semi can be extremely invaluable with FSD Unsupervised.
Musk famous that the USA really has a scarcity of truck drivers. And truck drivers are human, in order that they get drained. “I’ve plenty of respect for truck drivers, as a result of it’s a tricky job,” Musk stated.
He famous that extra individuals are leaving trucking than these getting into it. With this in thoughts, autonomy is extraordinarily vital. “It’s a a number of billion-a-year alternative,” Musk stated. That stated, the CEO additionally famous that “all of that is gonna pale compared to Optimus.”
17:10 CT – Musk reiterated that Optimus can be used at Tesla factories first, doing tedious duties that nobody needs to do.
Optimus manufacturing Model 2–perhaps beginning mid-next yr–can be designed for 10,000 models a month vs 1,000 models a month. Model 3 is for 100,000 models per 30 days, and with Model 2, Optimus robots could also be delivered to different corporations.
“Demand is not going to be an issue, even at a excessive value,” Musk stated. He additionally famous that at a million models per yr, Optimus’ manufacturing prices can be round or lower than $20,000.
17:04 CT – One other investor query requested if Optimus is designed locked. Musk famous that Optimus shouldn’t be design-locked in any respect. Nonetheless, the CEO famous that “it’s quickly evolving in a great route.” Musk additionally famous that different corporations are lacking real-world AI and manufacturing capabilities.
17:03 CT – The following investor query requested if different carmakers are fascinated about 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 succeed in 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 yr, with many extra areas on the finish of 2025.
“We’re searching for a security stage that’s considerably safer than a human driver,” Musk stated. “The one factor holding us again is an extra in warning,” Musk stated.
17:00 CT – The CFO famous that Tesla’s progress got here from Megapack and Powerwall. Each proceed to be production-constrained, which can hopefully be relieved by China, whose Shanghai Megafactory is producing Megapacks. Tariffs, nonetheless, are very seemingly, Tesla’s CFO famous.
16:58 CT – Tesla’s CFO takes the stage. He credit the Tesla crew for its efficiency in This autumn. He additionally mentioned some milestones, corresponding to file deliveries within the Higher China market, which is extraordinarily aggressive.
Value discount continues as nicely, regardless of elevated depreciation and different prices as the corporate ready for the brand new Mannequin Y. General price per automobile now down under $35,000.
The brand new Mannequin Y can be produced in all factories supporting the automobile beginning subsequent month. That is unprecedented in Tesla historical past.
He notes that Tesla can also be on observe to launch a extra reasonably priced mannequin within the first half of 2025, and there can be extra fashions from there.
16:54 CT – Elon Musk predicts elevated demand in power enterprise. That stated, he does admit that Tesla all the time has to allocate its battery provide. “2025 can be a pivotal yr for Tesla. It is likely to be considered as a very powerful yr in Tesla historical past,” Musk stated.
16:50 CT – Elon, nonetheless, admitted that he’s making insane predictions. He cautions that his predictions aren’t essentially exact. That stated, the goal is to make 10,000 Optimus robots this yr. Elon is assured that Tesla can produce just a few thousand this yr, with a aim to ramp Optimus manufacturing yearly.
Optimus’ capabilities are anticipated to be very spectacular. Musk notes that Optimus would have the ability to play the piano or thread a needle. That’s how exact its arms could be. “Optimus will have the ability to play the piano and have the ability to thread a needle,” Musk stated.
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 nicely 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 decide up from prospects. Teslas can be within the wild–with nobody in them–in Austin in June,” Musk stated.
16:45 CT – Musk famous that Tesla’s present constraints are battery packs for now. “Issues are going to ballistic subsequent yr…and ’27, and ’28,” he stated.
Musk additionally acknowledged that the coaching wants for the Optimus robotic is 10x what’s wanted for a automobile. A humanoid robotic, nonetheless, most likely has 1000 extra makes use of than a automobile.
“We reside at this unbelievable inflection level in historical past,” Musk stated.
16:40 CT – “I do know I’ve been referred to 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 can 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 stated. He additionally highlighted the potential of the Tesla Community. “It really works effective within the US, and naturally, it’s going to work simply nicely wherever else. The truth of autonomy is upon us,” Musk added.
16:38 CT – Elon takes the stage. He states that Tesla ended the yr with a run price of two million automobiles per yr. 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 stated, including that he nonetheless sees a path towards Tesla turning into the world’s most useful firm by a mile. “There’s a path to that,” he stated.
Musk famous that Tesla laid the groundwork for autonomous automobiles and robots in 2024, and these efforts will proceed in 2025. “It will arrange what I feel can be an epic 2026 and a ridiculously good 2027 and 2028,” Musk stated.
16:34 CT – Right here we go! Tesla’s IR publicizes that Tesla CEO Elon Musk and a lot of executives are current on the name.
16:30 CT – It’s time! It received’t be shocking if Tesla begins a bit late. That being stated, there’ll most likely be fairly a lot of attention-grabbing discussions on this name.
Only recently, 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 – Hiya, and blissful earnings day to everybody! Tesla missed a few of Wall Road’s expectations, however TSLA inventory appears to be doing fairly nicely in in the present day’s after-hours. It’s up about 2.3% as of writing.
As all the time, this is likely to be a really attention-grabbing earnings name.
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