Tesla (TSLA) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

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For the quarter ended September 2024, Tesla (TSLA) reported revenue of $25.18 billion, up 7.9% over the same period last year. EPS came in at $0.72, compared to $0.66 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $25.55 billion, representing a surprise of -1.45%. The company delivered an EPS surprise of +24.14%, with the consensus EPS estimate being $0.58.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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: 462,890 compared to the 465,802 average estimate based on seven analysts.

  • Model 3/Y deliveries: 439,975 versus the five-analyst average estimate of 443,510.

  • Other models deliveries: 22,915 compared to the 23,457 average estimate based on five analysts.

  • Revenues- Automotive sales: $18.83 billion versus the nine-analyst average estimate of $20.54 billion. The reported number represents a year-over-year change of +1.3%.

  • Revenues- Energy generation and storage: $2.38 billion compared to the $2.40 billion average estimate based on eight analysts. The reported number represents a change of +52.4% year over year.

  • Revenues- Services and other: $2.79 billion compared to the $2.60 billion average estimate based on eight analysts. The reported number represents a change of +28.8% year over year.

  • Revenues- Automotive regulatory credits: $739 million versus $519.19 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +33.4% change.

  • Revenues- Automotive leasing: $446 million versus the five-analyst average estimate of $378 million. The reported number represents a year-over-year change of -8.8%.

  • Total Automotive Revenue: $20.02 billion versus the five-analyst average estimate of $19.81 billion. The reported number represents a year-over-year change of +2%.

  • Gross profit- Total Automotive: $4.03 billion compared to the $3.55 billion average estimate based on seven analysts.

  • Gross profit- Services and other: $246 million versus the six-analyst average estimate of $154.01 million.

  • Gross profit- Energy generation and storage segment: $725 million versus the six-analyst average estimate of $650.69 million.