Q4 24 EPS
$0.73
MISS 3.95%
Est. $0.76
Q4 24 Revenue
$25.71B
MISS 6.70%
Est. $27.55B
vs S&P Since Q4 24
-22.7%
TRAILING MARKET
TSLA -3.6% vs S&P +19.1%
Full Year 2024 Results
FY 24 EPS
$2.42
MISS 2.47%
Est. $2.48
FY 24 Revenue
$97.69B
MISS 1.85%
Est. $99.54B
Market Reaction
Did TSLA Beat Earnings? Q4 2024 Results
Tesla closed out 2024 on a disappointing note, missing Wall Street expectations on both the top and bottom lines as weakening vehicle pricing weighed heavily on results. The electric vehicle maker posted fourth-quarter revenue of $25.71 billion, up j… Read more Tesla closed out 2024 on a disappointing note, missing Wall Street expectations on both the top and bottom lines as weakening vehicle pricing weighed heavily on results. The electric vehicle maker posted fourth-quarter revenue of $25.71 billion, up just 2.1% year-over-year but falling short of the $27.55 billion consensus by 6.70%, while non-GAAP EPS of $0.73 came in below the $0.76 estimate by 3.95%. The core culprit was a sharp 8% year-over-year decline in automotive revenue to $19.80 billion, driven by lower average selling prices on Model 3 and Model Y vehicles as Tesla leaned on pricing actions and financing incentives to sustain volume. GAAP operating income fell 23% to $1.58 billion, compressing the operating margin to 6.2% from 8.2% a year ago, even as record energy storage deployments of 11.0 GWh added a meaningful offset. Institutional investors have maintained conviction in the stock despite the earnings softness, with shares having risen roughly 92% over the past twelve months. Looking ahead, Tesla expects vehicle growth to resume in 2025, with more affordable models entering production in the first half of the year and energy storage deployments targeted to grow at least 50% year-over-year.
Key Takeaways
- • Record vehicle deliveries of 495,570 units in Q4, up 2% YoY
- • Record energy storage deployments of 11.0 GWh in Q4, up 244% YoY
- • COGS per vehicle reached all-time low below $35,000 driven by raw material cost improvements
- • Energy business achieved record gross profit in Q4
- • Higher regulatory credit revenue
- • Growth in Services and Other revenue up 31% YoY
- • Reduced S3XY vehicle ASP negatively impacted revenue and margins
- • Increased operating expenses driven by AI and other R&D projects
TSLA YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
TSLA Revenue by Segment
With YoY comparisons, source: SEC Filings
TSLA Earnings Trends
TSLA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TSLA EPS Trend
Earnings per share: estimate vs actual
TSLA Revenue Trend
Quarterly revenue: estimate vs actual
TSLA Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.36 | $0.41 | +14.14% | $22.39B | +0.18% |
| Q4 25 BEAT FY | $0.47 | $0.50 | +6.38% | $24.90B | +0.65% |
| FY Full Year | $1.64 | $1.66 | +1.52% | $94.83B | +0.17% |
| Q3 25 MISS | $0.56 | $0.50 | -10.35% | $28.10B | +5.21% |
| Q2 25 MISS | $0.40 | $0.40 | -1.11% | $22.50B | +1.67% |
| Q1 25 MISS | $0.42 | $0.27 | -35.71% | $19.34B | -9.70% |
| Q4 24 MISS FY | $0.76 | $0.73 | -3.95% | $25.71B | -6.70% |
| FY Full Year | $2.48 | $2.42 | -2.47% | $97.69B | -1.85% |
| Q3 24 BEAT | $0.58 | $0.72 | +24.14% | $25.18B | -0.75% |
| Q2 24 MISS | $0.62 | $0.52 | -16.13% | $25.50B | +2.94% |