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 web revenue in 2024; $2.3 billion in This fall together with $0.6 billion mark-to-market achieve on digital property.
- Complete Revenues: $25.7 billion
- Complete Automotive Revenues: $19.80 billion
This fall & FY 2024 Earnings Name at 4:30pm CT immediately 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 probably 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 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 arrival of electrical vehicles. It’s gonna occur. The one factor holding again electrical vehicles is vary, and that may be a solved downside,” 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 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 house owners.
Musk additionally predicts that Tesla house owners will have the ability to add automobile their vehicles to the robotaxi fleet by subsequent 12 months.
Tesla can be working towards FSD Unsupervised which can enable folks to examine their emails, texts, and many others., whereas the automobile is in movement, however the firm could be very cautious. Tesla has seen that persons are turning off FSD Unsupervised to examine 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 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 relating 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 tips on how to 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 international locations subsequent 12 months,” Musk stated.
17:18 CT – Analyst questions begin with Bernstein. He asks Elon Musk about what he’s doing to push Tesla’s administration staff to speed up the corporate’s applications. Musk famous that Tesla is engaged on perfecting real-world AI. “I spend a variety of time with the Tesla AI staff and the Tesla Optimus staff,” he stated.
Musk famous that there are lots of challenges with Optimus and automobile autonomy, however the items are there. He predicts Europe will probably 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 autos 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 should improve {Hardware} 3 for individuals who purchased FSD. That’s the sincere reply. It’s going to be painful and tough 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 business.
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 begin late this 12 months from Reno. He additionally thinks the Semi will probably be extremely invaluable with FSD Unsupervised.
Musk famous that america truly has a scarcity of truck drivers. And truck drivers are human, in order that they get drained. “I’ve a variety of respect for truck drivers, as a result of it’s a tricky job,” Musk stated.
He famous that extra persons 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 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 items a month vs 1,000 items a month. Model 3 is for 100,000 items 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 worth,” Musk stated. He additionally famous that at a million items 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 will not be design-locked in any respect. Nonetheless, the CEO famous that “it’s quickly evolving in an excellent 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 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 12 months, with many extra areas on the finish of 2025.
“We’re in search of 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 development 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, nevertheless, are very probably, Tesla’s CFO famous.
16:58 CT – Tesla’s CFO takes the stage. He credit the Tesla staff for its efficiency in This fall. He additionally mentioned some milestones, corresponding to document deliveries within the Higher China market, which is extraordinarily aggressive.
Value discount continues as effectively, regardless of elevated depreciation and different prices as the corporate ready for the brand new Mannequin Y. General value per automobile now down beneath $35,000.
The brand new Mannequin Y will probably 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 observe to launch a extra inexpensive 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 stated, he does admit that Tesla at all times has to allocate its battery provide. “2025 can be a pivotal 12 months for Tesla. It is perhaps considered as crucial 12 months in Tesla historical past,” Musk stated.
16:50 CT – Elon, nevertheless, 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 12 months. Elon is assured that Tesla can produce just a few 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 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 effectively 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 probably 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 12 months…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, nevertheless, in all probability 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 known as the boy who cried wolf. I’m telling you, there’s a rattling wolf this time. It may 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 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 tremendous within the US, and naturally, it should work simply effectively anyplace 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 charge of two million vehicles 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 stated, including that he nonetheless sees a path towards Tesla changing 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. “This may arrange what I believe will probably 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 quite a few executives are current on the name.
16:30 CT – It’s time! It gained’t be stunning if Tesla begins a bit late. That being stated, there’ll in all probability 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 – Hey, and glad earnings day to everybody! Tesla missed a few of Wall Avenue’s expectations, however TSLA inventory appears to be doing fairly effectively in immediately’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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