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 earnings 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 at the moment 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 probably be updating this text in real-time, so please preserve refreshing the web page to view the most recent 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 could be a solved drawback,” 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 right down to Texas in June to check it. Musk mentioned positive, and on the time, Tesla could be utilizing its personal fleet for its preliminary autonomous ride-hailing program. Automobiles gained’t be from particular person homeowners.
Musk additionally predicts that Tesla homeowners will be capable to add automotive their automobiles to the robotaxi fleet by subsequent 12 months.
Tesla can be working towards FSD Unsupervised which is able to enable folks to test their emails, texts, and so forth., whereas the car is in movement, however the firm could be very cautious. Tesla has seen that individuals 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 in terms 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 practice FSD Unsupervised in China. One of many challenges is bus lanes, that are very complicated in China.
“Hopefully, we are able to 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 whole lot of time with the Tesla AI group and the Tesla Optimus group,” he mentioned.
Musk famous that there are lots of challenges with Optimus and car autonomy, however the items are there. He predicts Europe will probably be a problem for FSD Unsupervised. FSD Unsupervised is anticipated to be introduced 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 is just not giving up on HW3. Tesla continues to be engaged on HW3 however updates will path HW4 releases.
“We’re going to must improve {Hardware} 3 for individuals who purchased FSD. That’s the trustworthy reply. It’s going to be painful and troublesome however that’s what we’re going to must 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 anticipated to start out late this 12 months from Reno. He additionally thinks the Semi will probably be extremely priceless with FSD Unsupervised.
Musk famous that america really has a scarcity of truck drivers. And truck drivers are human, so that they get drained. “I’ve a whole lot of respect for truck drivers, as a result of it’s a troublesome job,” Musk mentioned.
He famous that extra individuals 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 probably be used at Tesla factories first, doing tedious duties that nobody needs to do.
Optimus manufacturing Model 2–possibly beginning mid-next 12 months–will probably be designed for 10,000 models a month vs 1,000 models a month. Model 3 is for 100,000 models monthly, 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 probably be round or lower than $20,000.
17:04 CT – One other investor query requested if Optimus is designed locked. Musk famous that Optimus is just not design-locked in any respect. Nonetheless, the CEO famous that “it’s quickly evolving in path.” 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 focused on licensing FSD. Elon Musk confirmed that sure, they’re. “What we’re seeing is at this level is critical 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 12 months, 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 mentioned. “The one factor holding us again is an extra in warning,” Musk mentioned.
17:00 CT – The CFO famous that Tesla’s progress 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 probably, 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, akin to document deliveries within the Larger China market, which is extraordinarily aggressive.
Price discount continues as effectively, regardless of elevated depreciation and different prices as the corporate ready for the brand new Mannequin Y. General price per automotive now down beneath $35,000.
The brand new Mannequin Y will probably be produced in all factories supporting the car beginning subsequent month. That is unprecedented in Tesla historical past.
He notes that Tesla can be on observe to launch a extra reasonably priced mannequin within the first half of 2025, and there will probably 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 may 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 number of thousand this 12 months, with a purpose to ramp Optimus manufacturing yearly.
Optimus’ capabilities are anticipated to be very spectacular. Musk notes that Optimus would be capable to play the piano or thread a needle. That’s how exact its fingers could be. “Optimus will be capable to play the piano and be capable to 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 effectively 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 probably 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 automotive. A humanoid robotic, nevertheless, in all probability has 1000 extra makes use of than a automotive.
“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 probably be prepared.
He additionally highlighted that whereas FSD behaved like a neophyte driver earlier than, it gained’t be like that eternally.
“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 positive within the US, and naturally, it should work simply effectively anyplace else. The fact 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 automotive 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 changing into the world’s most useful 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. “It will arrange what I believe will probably be an epic 2026 and a ridiculously good 2027 and 2028,” Musk mentioned.
16:34 CT – Right here we go! Tesla’s IR publicizes that Tesla CEO Elon Musk and quite a few executives are current on the name.
16:30 CT – It’s time! It gained’t be shocking if Tesla begins a bit late. That being mentioned, there’ll in all probability be fairly quite a few fascinating discussions on this name.
Only recently, Tesla posted the primary video of its FSD Unsupervised system working within the Fremont Manufacturing unit. That’s a really large deal.
16:25 CT – Good day, and comfortable earnings day to everybody! Tesla missed a few of Wall Road’s expectations, however TSLA inventory appears to be doing fairly effectively in at the moment’s after-hours. It’s up about 2.3% as of writing.
As at all times, this may be a really fascinating earnings name.
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