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 Revenue: $7.1 billion GAAP; $7.1 billion GAAP web earnings in 2024; $2.3 billion in This fall together with $0.6 billion mark-to-market achieve on digital belongings.
- Whole Revenues: $25.7 billion
- Whole Automotive Revenues: $19.80 billion
This fall & FY 2024 Earnings Name at 4:30pm CT at this time https://t.co/uFCg69a6tN
— Tesla (@Tesla) January 29, 2025
The next are dwell updates from Tesla’s This fall and FY 2024 earnings name. I can be updating this text in real-time, so please preserve 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 feel sustainable transport is inevitable. You may’t cease the arrival of electrical vehicles. It’s gonna occur. The one factor holding again electrical vehicles is vary, and that could be a solved downside,” Musk stated.
17:37 CT – Pierre Ferragu of New Road 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 can be utilizing its personal fleet for its preliminary autonomous ride-hailing program. Vehicles received’t be from particular person house owners.
Musk additionally predicts that Tesla house owners will have the ability to add automotive their vehicles to the robotaxi fleet by subsequent 12 months.
Tesla can be working towards FSD Unsupervised which can permit folks to verify their emails, texts, and so forth., whereas the automobile is in movement, however the firm could be very cautious. Tesla has seen that persons are turning off FSD Unsupervised to verify 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 capturing lasers out of their eyes,” Musk joked. He additionally defined that he’s not anti-Lidar per se. He’s simply anti-Lidar in terms of autonomous vehicles.
17:25 CT – As for FSD in China, Musk famous that coaching movies in China can’t be exported out. Tesla determining find out how to prepare FSD Unsupervised in China. One of many challenges is bus lanes, that are very advanced in China.
“Hopefully, we will 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 group to speed up the corporate’s applications. Musk famous that Tesla is engaged on perfecting real-world AI. “I spend a number of time with the Tesla AI group and the Tesla Optimus group,” he stated.
Musk famous that there are various challenges with Optimus and automobile autonomy, however the items are there. He predicts Europe can be a problem for FSD Unsupervised. FSD Unsupervised is anticipated to be introduced to the EU within the Netherlands in Could, with a launch most likely subsequent 12 months.
17:15 CT – A query about HW3 autos was requested. Tesla famous that the corporate isn’t giving up on HW3. Tesla remains to be engaged on HW3 however updates will path HW4 releases.
“We’re going to need to improve {Hardware} 3 for individuals who purchased FSD. That’s the trustworthy reply. It’s going to be painful and tough however that’s what we’re going to need to 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 trade.
17:14 CT – One other query is requested, this time in regards to 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 start out late this 12 months from Reno. He additionally thinks the Semi can be extremely beneficial with FSD Unsupervised.
Musk famous that the US really has a scarcity of truck drivers. And truck drivers are human, so that they get drained. “I’ve a number of respect for truck drivers, as a result of it’s a troublesome 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 can be used at Tesla factories first, doing tedious duties that nobody desires to do.
Optimus manufacturing Model 2–perhaps beginning mid-next 12 months–can be designed for 10,000 models a month vs 1,000 models a month. Model 3 is for 100,000 models per 30 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 models per 12 months, Optimus’ manufacturing prices can be round or lower than $20,000.
17:04 CT – One other investor query requested if Optimus is designed locked. Musk famous that Optimus isn’t design-locked in any respect. Nonetheless, the CEO famous that “it’s quickly evolving in path.” Musk additionally famous that different firms are lacking real-world AI and manufacturing capabilities.
17:03 CT – The following investor query requested if different carmakers are desirous about 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 succeed in 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 degree 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 doubtless, Tesla’s CFO famous.
16:58 CT – Tesla’s CFO takes the stage. He credit the Tesla group for its efficiency in This fall. He additionally mentioned some milestones, akin to report deliveries within the Better China market, which is extraordinarily aggressive.
Value discount continues as nicely, regardless of elevated depreciation and different prices as the corporate ready for the brand new Mannequin Y. Total price per automotive now down beneath $35,000.
The brand new Mannequin Y can 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 reasonably priced mannequin within the first half of 2025, and there can be extra fashions from there.
16:54 CT – Elon Musk predicts elevated demand in vitality enterprise. That stated, he does admit that Tesla all the time has to allocate its battery provide. “2025 is mostly a pivotal 12 months for Tesla. It is likely to be seen as a very powerful 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 a number of 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 can 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 nicely 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 decide up from clients. Teslas can 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 said that the coaching wants for the Optimus robotic is 10x what’s wanted for a automotive. A humanoid robotic, nevertheless, most likely has 1000 extra makes use of than a automotive.
“We dwell 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 might drive you,” Musk joked, discussing FSD and his previous failed predictions about when unsupervised FSD can be prepared.
He additionally highlighted that whereas FSD behaved like a neophyte driver earlier than, it received’t be like that perpetually.
“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 high-quality within the US, and naturally, it can work simply nicely wherever 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 price of two million vehicles per 12 months. The Mannequin Y was the world’s best-selling automotive 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 useful 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 can arrange what I feel can be an epic 2026 and a ridiculously good 2027 and 2028,” Musk stated.
16:34 CT – Right here we go! Tesla’s IR broadcasts that Tesla CEO Elon Musk and various executives are current on the name.
16:30 CT – It’s time! It received’t be stunning if Tesla begins a bit late. That being stated, there’ll most likely be fairly various attention-grabbing discussions on this name.
Only in the near past, 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 – Howdy, and joyful earnings day to everybody! Tesla missed a few of Wall Road’s expectations, however TSLA inventory appears to be doing fairly nicely in at this time’s after-hours. It’s up about 2.3% as of writing.
As all the time, this is likely to be a really attention-grabbing earnings name.
https://www.youtube.com/watch?v=Gub5qCTutZo
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