Connect with us

News

Tesla (TSLA) Q3 2024 earnings: What Wall Street expects

Credit: Tesla Asia/X

Published

on

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. 

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. 

Advertisement

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. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

Advertisement
Comments

News

Starship Flight 10 rescheduled as SpaceX targets Monday launch

SpaceX said it is now targeting Monday evening for Starship’s 10th flight test.

Published

on

Credit: SpaceX/X

SpaceX stood down from its planned Starship Flight 10 on Sunday evening, citing an issue with ground systems. 

The launch attempt was scheduled during a one-hour window that opened at 7:30 p.m. ET, but it was called off just 17 minutes before the window opened. SpaceX said it is now targeting Monday evening for Starship’s 10th flight test.

Flight 10 rescheduled

A lot of excitement was palpable during the lead up to Starship Flight 10’s first launch window. After the failures of Starship Flight 9, many were interested to see if SpaceX would be able to nail its mission objectives this time around. Starship itself seemed ready to fly, with the upper stage being loaded with propellant as scheduled. Later on, SpaceX also noted that Starship’s Super Heavy booster was also being loaded with propellant.

However, 17 before the launch window opened, SpaceX noted that it was “standing down from today’s tenth flight of Starship to allow time to troubleshoot an issue with ground systems.” Elon Musk, in a post on X, further clarified that a “ground side liquid oxygen leak needs to be fixed.” Musk did state that SpaceX will attempt Flight 10 again on Monday, August 25, 2025.

Starship and SpaceX’s development goals

The fully integrated Starship system is the tallest and most powerful rocket ever built, standing over 400 feet when stacked. Composed of the reusable Super Heavy booster and the Starship upper stage, the vehicle is central to SpaceX’s long-term ambitions of lunar and Martian missions. NASA has already selected Starship as the crewed lunar lander for Artemis, with its first astronaut landing mission tentatively set for 2027, as noted in a Space.com report.

Advertisement

So far, Starship has flown nine times from Starbase in Texas, with three launches this year alone. Each flight has offered critical data, though all three 2025 missions encountered notable failures. Flight 7 and Flight 8 ended in explosions less than 10 minutes after launch, while Flight 9 broke apart during reentry. Despite setbacks, SpaceX has continued refining Starship’s hardware and operations with each attempt. Needless to say, a successful Flight 10 would be a significant win for the Starship program.

Continue Reading

News

Tesla makes big change to encourage Full Self-Driving purchases

Tesla Full Self-Driving was recently proven to be about ten times safer than a human driver in terms of accident frequency.

Published

on

Credit: Whole Mars Blog | X

Tesla has made a big change to its Online Design Studio, hoping to encourage car buyers to purchase Full Self-Driving with their vehicles.

Now, when you look at ordering a car on Tesla’s website, the portion of the page that formerly showed a render of Full Self-Driving capabilities has been replaced by a compilation of the suite’s performance in a variety of challenging scenarios.

It’s a great way to show off FSD’s impressive ability to work through road conditions that can even stump human drivers.

The move is much better than what the page previously illustrated. Now, people can see the true capabilities of the FSD suite and what it could do to change their perspective on how vehicles can be. Instead of a vessel of transportation, FSD turns cars into a semi-autonomous mode of travel.

Tesla Full Self-Driving is statistically very safe, logging about ten times the number of miles between accidents as human drivers, based on recent data the company released.

Tesla Q2 2025 vehicle safety report proves FSD makes driving almost 10X safer

It is available for purchase in two different ways: an outright purchase for $8,000 or in a monthly subscription for $99. This enables the software to essentially do a vast majority of the legwork of driving. Drivers must keep their eyes on the road and be prepared to take over if an intervention is needed.

However, FSD has been proven to be a very accurate and safe way to travel. Tesla recently released a video of a drive from the Bay Area to Los Angeles, a nearly seven-hour trip, under FSD without a single intervention ever needed:

Tesla flexes its most impressive and longest Full Self-Driving demo yet

From a personal perspective, Tesla Full Self-Driving is a great way to travel because it truly takes a lot of the stress out of driving. In the past, I’ve used it during weekend Demo Drives to navigate around my town to see if it could handle some of the tougher traffic in my area. It became such an amazing and convenient alternative that when I went back to my car, I truly missed the advantage of having it.

I took a Tesla Model Y weekend-long Demo Drive – Here’s what I learned

However, I am picking up my Tesla Model Y this coming weekend and will enjoy it for the free three months before subscribing to the monthly program.

Continue Reading

News

Tesla offers new feature to save battery and reduce phantom drain

While in Low Power Mode, your vehicle continues to use energy for standby functions, screen activity, and Tesla app interactions. In cold weather, available energy may drop more quickly.”

Published

on

Credit: Tesla

Tesla is offering a new feature to help owners save battery and reduce phantom drain, an issue that some have complained of with their cars.

While Teslas are some of the most efficient EVs on the market, they utilize energy and battery life when they’re parked to keep certain features, like Sentry Mode, Summon Standby, and others, active in preparation for potential events that occur.

Keeping these features ready to perform utilizes energy, and if your car is parked at an airport where it could be sitting stagnant for a few days, the battery percentage could start to dwindle pretty significantly.

Because of this, Tesla is rolling out a new feature called “Low Power Mode,” which will automatically disable a handful of settings to combat battery dwindling and phantom battery drain.

Tesla writes in the release notes for the feature:

“When Low Power Mode is enabled, your vehicle will conserve energy by automatically disabling the following features:

    • Sentry Mode
    • Summon Standby
    • Outlets
    • Keep Accessory Power On
    • Keep Climate On and Camp Mode
    • Scheduled Preconditioning
    • Cabin Overheat Protection

While charging with Low Power Mode enabled:

    • Sentry Mode and accessory power will remain available
    • Keep Climate On and Camp Mode are only available when Supercharging

While in Low Power Mode, your vehicle continues to use energy for standby functions, screen activity, and Tesla app interactions. In cold weather, available energy may drop more quickly.”

This feature seemed to be a reaction to a past issue that an owner had as their Cybertruck continued to utilize energy even though the pickup was parked at an airport and the owner was in Japan. The Cybertruck had utilized a lot of energy to keep standby functions active, which left the owner in an interesting spot when they returned.

CEO Elon Musk stepped in, and it seems this feature might have been a reaction to that situation. This is an ideal thing to use if you’re looking to conserve your battery’s state of charge.

Continue Reading

Trending