Tesla (TSLA) Q3 2024 earnings: What Wall Street expects
Tesla (NASDAQ:TSLA) is poised to report its third quarter 2024 earnings at the end of the trading day today, October 23, 2024. Following the release of Tesla’s Q3 2024 Update Letter, company executives are expected to hold the company’s third quarter earnings call, which would address inquiries from retail and institutional investors, as well as analysts.
TSLA stock is down 16% so far this October, following the company’s release of its third quarter vehicle delivery and production report, as well as the unveiling of its dedicated robotaxi, the Cybercab. While Tesla enthusiasts were excited by the Cybercab, critics and analysts were quite unimpressed with the event due to its lack of details about the robotaxi and its larger sibling, the Robovan.
With this in mind, here are Wall Street’s expectations for Tesla’s Q3 2024 earnings, as noted in an Investors Business Daily report.
GLJ is not part of the WS consensus estimate since he works for himself rather than a major WS firm. See attached for firms that make up the $TSLA consensus.
Many here don’t get how WS analysts get paid. They are not going to put in a ridiculously high estimate so TSLA misses… https://t.co/PKYRa9pnFV pic.twitter.com/ZL48BNxaRe
— Gary Black (@garyblack00) October 22, 2024
Profit and Revenue
Analysts polled by FactSet expect Tesla’s quarterly profit to fall 9% to $0.59 per share. At the same time, analysts also expect Tesla’s revenue to increase 9% to $25.47 billion in Q3 2024. Analysts that are included in Tesla’s own consensus, on the other hand, expect the company to post an EPS of $0.60 per share and total revenue of $25.29 billion.
Auto Gross Margins
Tesla has been aggressively pushing the sales of its vehicles, particularly the Model Y crossover, in key markets like the United States and China. Amidst this trend, analysts polled by FactSet expect Tesla’s auto gross margins to hit 14.7% this third quarter. For context, Tesla’s auto gross margins came in at 14.6% in Q2 2024.
Tesla investors seem to be approaching the release of the Q3 2024 earnings cautiously. As of writing, TSLA shares are trading down 0.64% at $216.57 per share.
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The post Tesla (TSLA) Q3 2024 earnings: What Wall Street expects appeared first on TESLARATI.
Source: https://www.teslarati.com/tesla-tsla-q3-2024-earnings-what-wall-street-expects/
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