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Compared to Estimates, Tesla (TSLA) Q2 Earnings: A Look at Key Metrics
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Tesla (TSLA - Free Report) reported $24.93 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 47.2%. EPS of $0.91 for the same period compares to $0.76 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $24.88 billion, representing a surprise of +0.17%. The company delivered an EPS surprise of +9.64%, with the consensus EPS estimate being $0.83.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Tesla performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total vehicle deliveries: 466140 versus 444569.1 estimated by seven analysts on average.
Model S/X deliveries: 19225 versus 16647.76 estimated by three analysts on average.
Solar deployed: 66 MW versus 110 MW estimated by two analysts on average.
Storage deployed: 3653 MWh versus the two-analyst average estimate of 3935.2 MWh.
Model 3/Y deliveries: 446915 versus the two-analyst average estimate of 419987.3.
Revenues- Automotive sales: $20.42 billion versus $21.23 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +39.8% change.
Revenues- Services and other: $2.15 billion versus the seven-analyst average estimate of $1.74 billion. The reported number represents a year-over-year change of +46.7%.
Revenues- Energy generation and storage: $1.51 billion versus the seven-analyst average estimate of $1.69 billion. The reported number represents a year-over-year change of +74.3%.
Revenues- Automotive regulatory credits: $282 million versus the five-analyst average estimate of $408.72 million. The reported number represents a year-over-year change of -18%.
Revenues- Automotive leasing: $567 million compared to the $592.11 million average estimate based on five analysts. The reported number represents a change of -3.6% year over year.
Total Automotive Revenue: $21.27 billion versus $19.57 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +55.6% change.
Gross profit- Total Automotive: $4.09 billion versus $4.21 billion estimated by six analysts on average.
Shares of Tesla have returned +6.9% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Tesla (TSLA) Q2 Earnings: A Look at Key Metrics
Tesla (TSLA - Free Report) reported $24.93 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 47.2%. EPS of $0.91 for the same period compares to $0.76 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $24.88 billion, representing a surprise of +0.17%. The company delivered an EPS surprise of +9.64%, with the consensus EPS estimate being $0.83.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Tesla performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total vehicle deliveries: 466140 versus 444569.1 estimated by seven analysts on average.
- Model S/X deliveries: 19225 versus 16647.76 estimated by three analysts on average.
- Solar deployed: 66 MW versus 110 MW estimated by two analysts on average.
- Storage deployed: 3653 MWh versus the two-analyst average estimate of 3935.2 MWh.
- Model 3/Y deliveries: 446915 versus the two-analyst average estimate of 419987.3.
- Revenues- Automotive sales: $20.42 billion versus $21.23 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +39.8% change.
- Revenues- Services and other: $2.15 billion versus the seven-analyst average estimate of $1.74 billion. The reported number represents a year-over-year change of +46.7%.
- Revenues- Energy generation and storage: $1.51 billion versus the seven-analyst average estimate of $1.69 billion. The reported number represents a year-over-year change of +74.3%.
- Revenues- Automotive regulatory credits: $282 million versus the five-analyst average estimate of $408.72 million. The reported number represents a year-over-year change of -18%.
- Revenues- Automotive leasing: $567 million compared to the $592.11 million average estimate based on five analysts. The reported number represents a change of -3.6% year over year.
- Total Automotive Revenue: $21.27 billion versus $19.57 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +55.6% change.
- Gross profit- Total Automotive: $4.09 billion versus $4.21 billion estimated by six analysts on average.
View all Key Company Metrics for Tesla here>>>Shares of Tesla have returned +6.9% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.