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Compared to Estimates, Tesla (TSLA) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2023, Tesla (TSLA - Free Report) reported revenue of $23.33 billion, up 24.4% over the same period last year. EPS came in at $0.85, compared to $1.07 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $23.59 billion, representing a surprise of -1.11%. The company delivered an EPS surprise of +2.41%, with the consensus EPS estimate being $0.83.
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: 422875 versus the five-analyst average estimate of 412884.2.
Model S/X deliveries: 10695 versus the three-analyst average estimate of 18745.46.
Revenues- Automotive sales: $18.88 billion versus the eight-analyst average estimate of $20.82 billion. The reported number represents a year-over-year change of +12%.
Revenues- Energy generation and storage: $1.53 billion compared to the $1.07 billion average estimate based on seven analysts. The reported number represents a change of +148.2% year over year.
Revenues- Services and other: $1.84 billion compared to the $1.59 billion average estimate based on seven analysts. The reported number represents a change of +43.6% year over year.
Revenues- Automotive leasing: $564 million versus the four-analyst average estimate of $582.08 million. The reported number represents a year-over-year change of -15.6%.
Revenues- Automotive regulatory credits: $521 million compared to the $434.16 million average estimate based on four analysts. The reported number represents a change of -23.3% year over year.
Total Automotive Revenue: $19.96 billion compared to the $19.27 billion average estimate based on four analysts. The reported number represents a change of +28.7% year over year.
Gross profit- Total Automotive: $4.21 billion compared to the $4.79 billion average estimate based on six analysts.
Gross profit- Energy generation and storage segment: $168 million versus the five-analyst average estimate of $125.32 million.
Shares of Tesla have returned -6.7% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Tesla (TSLA) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2023, Tesla (TSLA - Free Report) reported revenue of $23.33 billion, up 24.4% over the same period last year. EPS came in at $0.85, compared to $1.07 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $23.59 billion, representing a surprise of -1.11%. The company delivered an EPS surprise of +2.41%, with the consensus EPS estimate being $0.83.
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: 422875 versus the five-analyst average estimate of 412884.2.
- Model S/X deliveries: 10695 versus the three-analyst average estimate of 18745.46.
- Revenues- Automotive sales: $18.88 billion versus the eight-analyst average estimate of $20.82 billion. The reported number represents a year-over-year change of +12%.
- Revenues- Energy generation and storage: $1.53 billion compared to the $1.07 billion average estimate based on seven analysts. The reported number represents a change of +148.2% year over year.
- Revenues- Services and other: $1.84 billion compared to the $1.59 billion average estimate based on seven analysts. The reported number represents a change of +43.6% year over year.
- Revenues- Automotive leasing: $564 million versus the four-analyst average estimate of $582.08 million. The reported number represents a year-over-year change of -15.6%.
- Revenues- Automotive regulatory credits: $521 million compared to the $434.16 million average estimate based on four analysts. The reported number represents a change of -23.3% year over year.
- Total Automotive Revenue: $19.96 billion compared to the $19.27 billion average estimate based on four analysts. The reported number represents a change of +28.7% year over year.
- Gross profit- Total Automotive: $4.21 billion compared to the $4.79 billion average estimate based on six analysts.
- Gross profit- Energy generation and storage segment: $168 million versus the five-analyst average estimate of $125.32 million.
View all Key Company Metrics for Tesla here>>>Shares of Tesla have returned -6.7% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.