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Tesla (TSLA) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, Tesla (TSLA - Free Report) reported revenue of $23.35 billion, up 8.8% over the same period last year. EPS came in at $0.66, compared to $1.05 in the year-ago quarter.
The reported revenue represents a surprise of -4.23% over the Zacks Consensus Estimate of $24.38 billion. With the consensus EPS estimate being $0.72, the EPS surprise was -8.33%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 435,059 versus 439,208 estimated by seven analysts on average.
Model S/X deliveries: 15,985 compared to the 16,872 average estimate based on five analysts.
Model 3/Y deliveries: 419,074 versus 425,039 estimated by four analysts on average.
Solar deployed: 49 MW compared to the 84.83 MW average estimate based on two analysts.
Storage deployed: 3,980 MWh versus the two-analyst average estimate of 3,926.66 MWh.
Revenues- Energy generation and storage: $1.56 billion versus the eight-analyst average estimate of $1.63 billion. The reported number represents a year-over-year change of +39.6%.
Revenues- Automotive sales: $18.58 billion versus the eight-analyst average estimate of $20.61 billion.
Revenues- Services and other: $2.17 billion compared to the $2.19 billion average estimate based on seven analysts. The reported number represents a change of +31.7% year over year.
Revenues- Automotive regulatory credits: $554 million compared to the $324.93 million average estimate based on five analysts. The reported number represents a change of +93.7% year over year.
Revenues- Automotive leasing: $489 million versus the five-analyst average estimate of $597.34 million. The reported number represents a year-over-year change of -21.3%.
Total Automotive Revenue: $19.63 billion versus the four-analyst average estimate of $19.42 billion. The reported number represents a year-over-year change of +5%.
Gross profit- Total Automotive: $3.67 billion versus the six-analyst average estimate of $3.80 billion.
Shares of Tesla have returned -4.4% over the past month versus the Zacks S&P 500 composite's -1.6% 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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Tesla (TSLA) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Tesla (TSLA - Free Report) reported revenue of $23.35 billion, up 8.8% over the same period last year. EPS came in at $0.66, compared to $1.05 in the year-ago quarter.
The reported revenue represents a surprise of -4.23% over the Zacks Consensus Estimate of $24.38 billion. With the consensus EPS estimate being $0.72, the EPS surprise was -8.33%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 435,059 versus 439,208 estimated by seven analysts on average.
- Model S/X deliveries: 15,985 compared to the 16,872 average estimate based on five analysts.
- Model 3/Y deliveries: 419,074 versus 425,039 estimated by four analysts on average.
- Solar deployed: 49 MW compared to the 84.83 MW average estimate based on two analysts.
- Storage deployed: 3,980 MWh versus the two-analyst average estimate of 3,926.66 MWh.
- Revenues- Energy generation and storage: $1.56 billion versus the eight-analyst average estimate of $1.63 billion. The reported number represents a year-over-year change of +39.6%.
- Revenues- Automotive sales: $18.58 billion versus the eight-analyst average estimate of $20.61 billion.
- Revenues- Services and other: $2.17 billion compared to the $2.19 billion average estimate based on seven analysts. The reported number represents a change of +31.7% year over year.
- Revenues- Automotive regulatory credits: $554 million compared to the $324.93 million average estimate based on five analysts. The reported number represents a change of +93.7% year over year.
- Revenues- Automotive leasing: $489 million versus the five-analyst average estimate of $597.34 million. The reported number represents a year-over-year change of -21.3%.
- Total Automotive Revenue: $19.63 billion versus the four-analyst average estimate of $19.42 billion. The reported number represents a year-over-year change of +5%.
- Gross profit- Total Automotive: $3.67 billion versus the six-analyst average estimate of $3.80 billion.
View all Key Company Metrics for Tesla here>>>Shares of Tesla have returned -4.4% over the past month versus the Zacks S&P 500 composite's -1.6% 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.