Tesla’s (NASDAQ:TSLA) Q3 2024 earnings name comes on the heels of the corporate’s This fall and FY 2024 Replace Letter, which was launched after the closing bell on January 29, 2025.
Tesla’s This fall 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 internet revenue in 2024; $2.3 billion in This fall together with $0.6 billion mark-to-market achieve on digital belongings.
- Complete Revenues: $25.7 billion
- Complete Automotive Revenues: $19.80 billion
This fall & FY 2024 Earnings Name at 4:30pm CT at this time https://t.co/uFCg69a6tN
— Tesla (@Tesla) January 29, 2025
The next are reside updates from Tesla’s This fall and FY 2024 earnings name. I will likely be updating this text in real-time, so please preserve 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 fall 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’ll be able to’t cease the appearance of electrical vehicles. It’s gonna occur. The one factor holding again electrical vehicles is vary, and that could be a solved drawback,” Musk stated.
17:37 CT – Pierre Ferragu of New Avenue 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 gained’t be from particular person house owners.
Musk additionally predicts that Tesla house owners will be capable to add automobile their vehicles to the robotaxi fleet by subsequent yr.
Tesla can also be working towards FSD Unsupervised which is able to permit folks to verify their emails, texts, and so forth., whereas the car 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 imagine 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 vehicles.
17:25 CT – As for FSD in China, Musk famous that coaching movies in China can’t be exported out. Tesla determining the right way to practice FSD Unsupervised in China. One of many challenges is bus lanes, that are very advanced in China.
“Hopefully, we will 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 various challenges with Optimus and car autonomy, however the items are there. He predicts Europe will likely be a problem for FSD Unsupervised. FSD Unsupervised is anticipated to be introduced to the EU within the Netherlands in Might, with a launch most likely subsequent yr.
17:15 CT – A query about HW3 automobiles was requested. Tesla famous that the corporate will not be giving up on HW3. Tesla remains 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 development 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 yr from Reno. He additionally thinks the Semi will likely be extremely invaluable with FSD Unsupervised.
Musk famous that the US truly has a scarcity of truck drivers. And truck drivers are human, so 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 coming into it. With this in thoughts, autonomy is extraordinarily necessary. “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 will likely be used at Tesla factories first, doing tedious duties that nobody desires to do.
Optimus manufacturing Model 2–perhaps beginning mid-next yr–will likely be designed for 10,000 items a month vs 1,000 items a month. Model 3 is for 100,000 items monthly, and with Model 2, Optimus robots could also be delivered to different corporations.
“Demand won’t be an issue, even at a excessive worth,” Musk stated. He additionally famous that at a million items per yr, 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 will not be design-locked in any respect. Nevertheless, the CEO famous that “it’s quickly evolving in path.” 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 occupied with 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 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 yr, 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 stated. “The one factor holding us again is an extra in warning,” Musk stated.
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, nonetheless, are very probably, Tesla’s CFO famous.
16:58 CT – Tesla’s CFO takes the stage. He credit the Tesla crew for its efficiency in This fall. He additionally mentioned some milestones, reminiscent of 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. General price per automobile now down under $35,000.
The brand new Mannequin Y will likely be produced in all factories supporting the car beginning subsequent month. That is unprecedented in Tesla historical past.
He notes that Tesla can also be on monitor to launch a extra inexpensive 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 vitality enterprise. That stated, he does admit that Tesla at all times has to allocate its battery provide. “2025 is known as a pivotal yr for Tesla. It is perhaps seen 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 be capable to play the piano or thread a needle. That’s how exact its palms could be. “Optimus will be capable to play the piano and be capable 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 properly within the firm’s factories.
“The vehicles aren’t simply driving to the identical spot. The vehicles are programmed to a lane” or a vacation spot parking spot for choose up from prospects. Teslas will likely 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 may well 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 gained’t be like that eternally.
“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 fantastic within the US, and naturally, it should 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 yr with a run fee of two million vehicles 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 precious firm by a mile. “There’s a path to that,” he stated.
Musk famous that Tesla laid the groundwork for autonomous vehicles and robots in 2024, and these efforts will proceed in 2025. “It will arrange what I believe will likely be an epic 2026 and a ridiculously good 2027 and 2028,” Musk stated.
16:34 CT – Right here we go! Tesla’s IR pronounces 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 stated, there’ll most likely be fairly quite a few 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 – Whats up, and glad earnings day to everybody! Tesla missed a few of Wall Avenue’s expectations, however TSLA inventory appears to be doing fairly properly in at this time’s after-hours. It’s up about 2.3% as of writing.
As at all times, this is perhaps a really attention-grabbing earnings name.
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