{"id":74722,"date":"2024-07-23T09:11:15","date_gmt":"2024-07-23T13:11:15","guid":{"rendered":"https:\/\/autosector.com\/?p=74722"},"modified":"2024-07-23T09:11:15","modified_gmt":"2024-07-23T13:11:15","slug":"tesla-tsla-q2-2024-earnings-preview","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=74722","title":{"rendered":"Tesla (TSLA) Q2 2024 earnings preview: what to expect today"},"content":{"rendered":"
\n\t\"Tesla<\/figure>\n

Tesla (TSLA) is about to release Q2 2024 financial results on Tuesday, July 23, after the markets close. As usual, a conference call and Q&A with Tesla\u2019s management are scheduled after the results.<\/p>\n

Here, we\u2019ll take a look at what both the street and retail investors are expecting for the quarterly results.<\/p>\n

<\/p>\n

Tesla Q2 2024 deliveries<\/h2>\n

While Tesla is an \u201cAI\/robotics\u201d company, according to CEO Elon Musk, its automotive deliveries remain the biggest drivers of financial performance by far.<\/p>\n

Tesla already disclosed\u00a0its Q2 vehicle delivery and production numbers<\/a>:<\/p>\n

\n\n\n\n\n\n\n
Models<\/strong><\/td>\nProduction<\/strong><\/td>\nDeliveries<\/strong><\/td>\nSubject to operating lease accounting<\/strong><\/td>\n<\/tr>\n
Model 3\/Y<\/td>\n386,576<\/td>\n422,405<\/td>\n2%<\/td>\n<\/tr>\n
Other Models<\/td>\n24,255<\/td>\n21,551<\/td>\n1%<\/td>\n<\/tr>\n
Total<\/strong><\/td>\n410,831<\/strong><\/td>\n443,956<\/strong><\/td>\n2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n

Deliveries are down year-over-year for the second quarter in a row, but the performance was much better than last quarter.<\/p>\n

Tesla has also already disclosed an impressive new record deployment of energy storage at 9.4 GWh.<\/p>\n

Tesla Q2 2024 revenue<\/h2>\n

For revenue, analysts generally have a pretty good idea of what to expect, thanks to the delivery numbers.<\/p>\n

However, Tesla\u2019s average price per vehicle is changing a lot these days due to frequent price cuts and discounts across many markets, which makes things more difficult.<\/p>\n

This quarter, Wall Street also has to account for the record energy storage, which is adding billions of dollars to revenue.<\/p>\n

The Wall Street consensus for this quarter is $24.380 billion, and\u00a0Estimize<\/a>, the financial estimate crowdsourcing website, predicts a higher revenue of $24.562 billion.<\/p>\n

Here are the predictions for Tesla\u2019s revenue over the past two years, with Estimize predictions in blue, Wall Street consensus in gray, and actual results are in green:<\/p>\n

\"\"<\/figure>\n

Tesla Q2 2024 earnings<\/h2>\n

Tesla always attempts to be marginally profitable every quarter as it invests most of its money into growth, and it has been successful in doing so over the last three years now.<\/p>\n

However, like revenues, it has been harder to estimate earnings over the last year with price cuts digging into Tesla\u2019s industry-leading gross margins and the lower deliveries are making it harder.<\/p>\n

For Q2 2024, the Wall Street consensus is a gain of $0.61 per share, while Estimize\u2019s prediction is slightly higher with a profit of $0.64 per share.<\/p>\n

Tesla had earnings of $0.91 per share during the same period last year.<\/p>\n

Here are the earnings per share over the last two years, where Estimize predictions are in blue, Wall Street consensus is in gray, and actual results are in green:<\/p>\n

\"\"<\/figure>\n

Other expectations for the TSLA shareholder\u2019s letter and analyst call<\/h2>\n

Beyond the financial results, Tesla always gives broader updates and answers shareholder questions in its shareholder letter and conference call with management following the release of the results.<\/p>\n

Tesla gathers questions from shareholders from the \u201cSay Technologies<\/a>\u201d website.<\/p>\n

Here are the currently most upvoted questions likely to be answered by management:<\/p>\n