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 Earnings: $7.1 billion GAAP; $7.1 billion GAAP web revenue 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 present 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 most recent 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 believe sustainable transport is inevitable. You may’t cease the arrival of electrical automobiles. It’s gonna occur. The one factor holding again electrical automobiles is vary, and that may be a solved drawback,” Musk mentioned.
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 all the way down to Texas in June to check it. Musk mentioned positive, and on the time, Tesla could be utilizing its personal fleet for its preliminary autonomous ride-hailing program. Automobiles gained’t be from particular person homeowners.
Musk additionally predicts that Tesla homeowners will be capable of add automotive their automobiles to the robotaxi fleet by subsequent yr.
Tesla can be working towards FSD Unsupervised which is able to permit folks to verify their emails, texts, and many others., whereas the car is in movement, however the firm may be very cautious. Tesla has seen that individuals 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 the case of autonomous automobiles.
17:25 CT – As for FSD in China, Musk famous that coaching movies in China can’t be exported out. Tesla determining easy methods to practice FSD Unsupervised in China. One of many challenges is bus lanes, that are very complicated in China.
“Hopefully, we will have Unsupervised FSD in different international locations subsequent yr,” Musk mentioned.
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 loads of time with the Tesla AI group and the Tesla Optimus group,” he mentioned.
Musk famous that there are a lot of challenges with Optimus and car autonomy, however the items are there. He predicts Europe can be a problem for FSD Unsupervised. FSD Unsupervised is predicted to be introduced to the EU within the Netherlands in Might, with a launch most likely subsequent yr.
17:15 CT – A query about HW3 autos was requested. Tesla famous that the corporate just isn’t giving up on HW3. Tesla continues to be engaged on HW3 however updates will path HW4 releases.
“We’re going to must 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 must 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 progress by distributing Photo voltaic Roof to the roofing trade.
17:14 CT – One other query is requested, this time concerning 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 predicted to start out late this yr from Reno. He additionally thinks the Semi can be extremely invaluable with FSD Unsupervised.
Musk famous that the US truly has a scarcity of truck drivers. And truck drivers are human, in order that they get drained. “I’ve loads of respect for truck drivers, as a result of it’s a tricky job,” Musk mentioned.
He famous that extra individuals are leaving trucking than these coming into it. With this in thoughts, autonomy is extraordinarily vital. “It’s a a number of billion-a-year alternative,” Musk mentioned. That mentioned, 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 yr–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 is not going to be an issue, even at a excessive value,” Musk mentioned. He additionally famous that at a million models per yr, 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 just isn’t design-locked in any respect. Nevertheless, the CEO famous that “it’s quickly evolving in route.” 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 fascinated by 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 achieve 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 yr, 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 mentioned. “The one factor holding us again is an extra in warning,” Musk mentioned.
17:00 CT – The CFO famous that Tesla’s progress got here from Megapack and Powerwall. Each proceed to be production-constrained, which is able to hopefully be relieved by China, whose Shanghai Megafactory is producing Megapacks. Tariffs, nonetheless, are very probably, 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, similar to file deliveries within the Better China market, which is extraordinarily aggressive.
Price discount continues as effectively, regardless of elevated depreciation and different prices as the corporate ready for the brand new Mannequin Y. General value per automotive now down beneath $35,000.
The brand new Mannequin Y can be produced in all factories supporting the car beginning subsequent month. That is unprecedented in Tesla historical past.
He notes that Tesla can be on monitor to launch a extra inexpensive 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 mentioned, he does admit that Tesla all the time has to allocate its battery provide. “2025 can be a pivotal yr for Tesla. It is likely to be seen as an important yr in Tesla historical past,” Musk mentioned.
16:50 CT – Elon, nonetheless, admitted that he’s making insane predictions. He cautions that his predictions aren’t essentially exact. That mentioned, the goal is to make 10,000 Optimus robots this yr. Elon is assured that Tesla can produce a number of thousand this yr, with a purpose to ramp Optimus manufacturing yearly.
Optimus’ capabilities are anticipated to be very spectacular. Musk notes that Optimus would be capable of play the piano or thread a needle. That’s how exact its fingers could be. “Optimus will be capable of play the piano and be capable of thread a needle,” Musk mentioned.
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 effectively within the firm’s factories.
“The automobiles aren’t simply driving to the identical spot. The automobiles 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 mentioned.
16:45 CT – Musk famous that Tesla’s present constraints are battery packs for now. “Issues are going to ballistic subsequent yr…and ’27, and ’28,” he mentioned.
Musk additionally said that the coaching wants for the Optimus robotic is 10x what’s wanted for a automotive. A humanoid robotic, nonetheless, most likely has 1000 extra makes use of than a automotive.
“We dwell at this unbelievable inflection level in historical past,” Musk mentioned.
16:40 CT – “I do know I’ve been referred to as the boy who cried wolf. I’m telling you, there’s a rattling wolf this time. It could possibly 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 gained’t be like that without end.
“The one people who find themselves skeptical are those that haven’t tried it (FSD),” he mentioned. He additionally highlighted the potential of the Tesla Community. “It really works high quality within the US, and naturally, it can work simply effectively wherever else. The truth of autonomy is upon us,” Musk added.
16:38 CT – Elon takes the stage. He states that Tesla ended the yr with a run price of two million automobiles per yr. 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 mentioned, including that he nonetheless sees a path towards Tesla changing into the world’s most precious firm by a mile. “There’s a path to that,” he mentioned.
Musk famous that Tesla laid the groundwork for autonomous automobiles and robots in 2024, and these efforts will proceed in 2025. “This can arrange what I believe can be an epic 2026 and a ridiculously good 2027 and 2028,” Musk mentioned.
16:34 CT – Right here we go! Tesla’s IR declares that Tesla CEO Elon Musk and quite a few executives are current on the name.
16:30 CT – It’s time! It gained’t be shocking if Tesla begins a bit late. That being mentioned, there’ll most likely be fairly quite a few fascinating discussions on this name.
Only recently, Tesla posted the primary video of its FSD Unsupervised system working within the Fremont Manufacturing unit. That’s a really massive deal.
16:25 CT – Hi there, and completely satisfied earnings day to everybody! Tesla missed a few of Wall Road’s expectations, however TSLA inventory appears to be doing fairly effectively in at present’s after-hours. It’s up about 2.3% as of writing.
As all the time, this is likely to be a really fascinating earnings name.
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