This article does not constitute investment advice. The author does not hold any positions in the stocks mentioned.
Overview of Tesla’s Q4 2024 Earnings Report
Tesla (NASDAQ: TSLA) has unveiled its financial results for the fourth quarter of 2024, revealing disappointing figures that fell short of Wall Street’s expectations.
Key Financial Metrics
The automaker reported revenues totaling $25.707 billion for Q4 2024, a significant miss compared to the forecasted $27.3 billion consensus. This shortfall can be largely attributed to a decrease in the average selling price (ASP) of its vehicles.
Revenue Breakdown
The chart above illustrates a segmented view of Tesla’s revenue sources, highlighting their performance across different divisions.
Production Metrics
Tesla’s performance in production during the quarter was noteworthy, delivering 495, 570 units while producing 459, 445 units. Notably, for the entire year of 2024, the company managed to deliver 1, 789, 226 electric vehicles (EVs), which fell short of its guidance of exceeding last year’s total of 1.81 million deliveries.
Margins and Gross Profitability
Furthermore, the auto gross margin (excluding regulatory credits) for Q4 2024 stood at 13.59%, below the anticipated 16.20% as per consensus estimates.
Hi everyone, • I estimate Tesla will miss the Q4 consensus for EPS.• Based on my calculations, Tesla lost over $10, 000 per Cybertruck in Q4 2024.• Additionally, my analysis shows Tesla’s gross margin in China has been negative for the last three quarters, but the January 10… pic.twitter.com/mUti1Q8gRv
— Troy Teslike (@TroyTeslike) January 28, 2025
Lastly, Tesla reported $0.73 in non-GAAP (adjusted) earnings per share (EPS), which was below the expected $0.77. Interestingly, they also disclosed substantial gains of $589 million from digital asset sales, raising eyebrows about their accounting strategies.
BOOM! Tesla reported a $589 million digital assets gain! I told you they might sell Bitcoin to make things look better!
— funwithnumberz (@funwithnumberz) January 29, 2025
Future Outlook
Although Tesla’s stock initially dipped about 4% in after-hours trading, it managed to recover to positive territory as investors reacted to the overall report. The broader miss across nearly all performance metrics is somewhat offset by optimistic guidance for a 50% year-over-year growth in its energy business for 2025 and assurance that new model rollouts are on track.
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