Tesla’s 3rd Quarter Financial Results: What to Expect
Tesla (NASDAQ: TSLA) is set to announce its 3rd quarter financial results on Wednesday, October 23rd, ’24. Analysts are anticipating $0.58 in EPS and $25.37 billion in revenue. Here’s a breakdown of what to look out for:
Expectations and Projections
- Consensus analyst expectations: $0.58 EPS, $25.37 billion revenue
- Expected year-over-year growth: -12% for EPS, +9% for revenue
- Operating income expected at $1.9 billion with +8% y-o-y growth
Previous Performance
- Stock fell after 2nd quarter results announcement
- Revenue grew 5% y-o-y, operating income fell 33%, EPS fell 43% y-o-y
Income Statement: Y-O-Y Growth By Line Item
- Check out the year-over-year growth of Tesla’s revenue, operating income, and EPS since Covid
Key Metrics
- Peak auto revenue: $21.56 billion in December ’23
- Best energy storage revenue: $5.6 billion in Q2 ’24
- Best auto gross margin: 26.3% in Q3 ’22
- Highest operating income: $3.9 billion in Q4 ’22
- Peak free-cash-flow: $6.9 billion in June ’22
Market Trends
- Momentum in the stock has slowed down
- Analysts and investors underwhelmed by FSD (full self-driving) division
- Positive news on cybertruck sales boosting revenue estimates
EPS and Estimate Revisions
- Negative revisions in Tesla’s EPS and revenue estimate trends as of 10/22/24
- Full-year 2024 revenue estimate bumped up due to cyber-truck sales
Chart Analysis
- Upward-sloping trendline remains intact
- Support levels at $138 and $170 – $175
Conclusion
- Sentiment around Tesla has become apathetic
- Concerns about stagnant robo-car division and delayed model rollout
- Elon Musk’s multiple ventures may impact Tesla’s performance
- Consider adding small share amounts cautiously
- Disclaimer: This is not financial advice, only an opinion based on data sourced from LSEG.
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Analysis:
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