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Tesla (TSLA) Reports Q2 Earnings: What Key Metrics Have to Say
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Tesla (TSLA - Free Report) reported $25.5 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 2.3%. EPS of $0.52 for the same period compares to $0.91 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $25.13 billion, representing a surprise of +1.48%. The company delivered an EPS surprise of -16.13%, with the consensus EPS estimate being $0.62.
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: 443,956 versus 469,599 estimated by seven analysts on average.
Model 3/Y deliveries: 422,405 versus 436,325 estimated by five analysts on average.
Other models deliveries: 21,551 compared to the 22,389 average estimate based on five analysts.
Revenues- Automotive sales: $18.53 billion compared to the $20.61 billion average estimate based on eight analysts. The reported number represents a change of -9.3% year over year.
Revenues- Energy generation and storage: $3.01 billion versus $2.32 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +99.7% change.
Revenues- Services and other: $2.61 billion versus the seven-analyst average estimate of $2.44 billion. The reported number represents a year-over-year change of +21.3%.
Revenues- Automotive regulatory credits: $890 million compared to the $437.81 million average estimate based on six analysts. The reported number represents a change of +215.6% year over year.
Revenues- Automotive leasing: $458 million versus the five-analyst average estimate of $446.47 million. The reported number represents a year-over-year change of -19.2%.
Total Automotive Revenue: $19.88 billion compared to the $20.31 billion average estimate based on five analysts. The reported number represents a change of -6.5% year over year.
Gross profit- Total Automotive: $3.67 billion versus $3.75 billion estimated by seven analysts on average.
Gross profit- Energy generation and storage segment: $740 million versus the six-analyst average estimate of $597.95 million.
Gross profit- Services and other: $167 million versus the five-analyst average estimate of $149.03 million.
Shares of Tesla have returned +37.8% over the past month versus the Zacks S&P 500 composite's +2% 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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Tesla (TSLA) Reports Q2 Earnings: What Key Metrics Have to Say
Tesla (TSLA - Free Report) reported $25.5 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 2.3%. EPS of $0.52 for the same period compares to $0.91 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $25.13 billion, representing a surprise of +1.48%. The company delivered an EPS surprise of -16.13%, with the consensus EPS estimate being $0.62.
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: 443,956 versus 469,599 estimated by seven analysts on average.
- Model 3/Y deliveries: 422,405 versus 436,325 estimated by five analysts on average.
- Other models deliveries: 21,551 compared to the 22,389 average estimate based on five analysts.
- Revenues- Automotive sales: $18.53 billion compared to the $20.61 billion average estimate based on eight analysts. The reported number represents a change of -9.3% year over year.
- Revenues- Energy generation and storage: $3.01 billion versus $2.32 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +99.7% change.
- Revenues- Services and other: $2.61 billion versus the seven-analyst average estimate of $2.44 billion. The reported number represents a year-over-year change of +21.3%.
- Revenues- Automotive regulatory credits: $890 million compared to the $437.81 million average estimate based on six analysts. The reported number represents a change of +215.6% year over year.
- Revenues- Automotive leasing: $458 million versus the five-analyst average estimate of $446.47 million. The reported number represents a year-over-year change of -19.2%.
- Total Automotive Revenue: $19.88 billion compared to the $20.31 billion average estimate based on five analysts. The reported number represents a change of -6.5% year over year.
- Gross profit- Total Automotive: $3.67 billion versus $3.75 billion estimated by seven analysts on average.
- Gross profit- Energy generation and storage segment: $740 million versus the six-analyst average estimate of $597.95 million.
- Gross profit- Services and other: $167 million versus the five-analyst average estimate of $149.03 million.
View all Key Company Metrics for Tesla here>>>Shares of Tesla have returned +37.8% over the past month versus the Zacks S&P 500 composite's +2% 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.