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Tesla Q1 2024 earnings call set on April 23, 2024

American electric vehicle maker Tesla has announced that it would post its financial results for the first quarter of 2024 after markets close on Tuesday, April 23, 2024. The date of the Q1 2024 earnings call was announced with the company’s first-quarter vehicle production and delivery report

Tesla will be releasing its Q1 2024 Update Letter, which will be posted on the company’s Investor Relations (IR) website after markets close on April 23, 2024. Tesla’s Q1 2024 earnings call, which is expected to be attended by the company’s leadership, is expected to be held at 4:30 p.m. CT (5:30 p.m. ET). Tesla’s outlook and business results will be discussed during the earnings call.

Tesla had a rough first quarter when it came to vehicle deliveries. During Q1 2024, Tesla produced over 433,000 vehicles and delivered approximately 387,000 vehicles, significantly below expectations from the Street and TSLA bulls alike. With this in mind, both analysts and retail investors would likely tune into Tesla’s Q1 2024 earnings call to get insights into the company’s lower-than-expected vehicle deliveries. 

Tesla did provide some explanation behind its subpar first quarter 2024 results. As per the electric vehicle maker, the early phase of the production ramp of the updated Model 3 at the Fremont Factory in California and shutdowns resulting from shipping diversions caused by the Red Sea conflict and the arson attack at Gigafactory Berlin adversely affected its Q1 volumes. 

That being said, the effects of the Red Sea conflict and the arson attack against Giga Berlin were mostly related to vehicle production. Wall Street veteran Gary Black of The Future Fund, LLC, estimated that Tesla ended the first quarter of 2024 with 29 days’ worth of finished goods inventory, the highest since the first quarter of 2019.  

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Tesla Q1 2024 earnings call set on April 23, 2024
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