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Tesla (TSLA) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, Tesla (TSLA - Free Report) reported revenue of $21.3 billion, down 8.7% over the same period last year. EPS came in at $0.45, compared to $0.85 in the year-ago quarter.
The reported revenue represents a surprise of -3.83% over the Zacks Consensus Estimate of $22.15 billion. With the consensus EPS estimate being $0.46, the EPS surprise was -2.17%.
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: 386,810 versus 417,863 estimated by seven analysts on average.
Other models deliveries: 17,027 versus the five-analyst average estimate of 18,327.
Model 3/Y deliveries: 369,783 versus the five-analyst average estimate of 419,257.
Storage deployed: 4,053 MWh compared to the 4,494.77 MWh average estimate based on two analysts.
Revenues- Automotive sales: $16.46 billion versus $18.79 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -12.8% change.
Revenues- Energy generation and storage: $1.64 billion compared to the $1.81 billion average estimate based on seven analysts. The reported number represents a change of +6.9% year over year.
Revenues- Services and other: $2.29 billion versus the six-analyst average estimate of $2.22 billion. The reported number represents a year-over-year change of +24.6%.
Revenues- Automotive regulatory credits: $442 million versus $404.41 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -15.2% change.
Revenues- Automotive leasing: $476 million compared to the $480.86 million average estimate based on four analysts. The reported number represents a change of -15.6% year over year.
Total Automotive Revenue: $17.38 billion versus $18.22 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -13% change.
Gross profit- Total Automotive: $3.21 billion versus the six-analyst average estimate of $3.03 billion.
Gross profit- Services and other: $81 million compared to the $94.65 million average estimate based on five analysts.
Shares of Tesla have returned -17.7% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Tesla (TSLA) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, Tesla (TSLA - Free Report) reported revenue of $21.3 billion, down 8.7% over the same period last year. EPS came in at $0.45, compared to $0.85 in the year-ago quarter.
The reported revenue represents a surprise of -3.83% over the Zacks Consensus Estimate of $22.15 billion. With the consensus EPS estimate being $0.46, the EPS surprise was -2.17%.
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: 386,810 versus 417,863 estimated by seven analysts on average.
- Other models deliveries: 17,027 versus the five-analyst average estimate of 18,327.
- Model 3/Y deliveries: 369,783 versus the five-analyst average estimate of 419,257.
- Storage deployed: 4,053 MWh compared to the 4,494.77 MWh average estimate based on two analysts.
- Revenues- Automotive sales: $16.46 billion versus $18.79 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -12.8% change.
- Revenues- Energy generation and storage: $1.64 billion compared to the $1.81 billion average estimate based on seven analysts. The reported number represents a change of +6.9% year over year.
- Revenues- Services and other: $2.29 billion versus the six-analyst average estimate of $2.22 billion. The reported number represents a year-over-year change of +24.6%.
- Revenues- Automotive regulatory credits: $442 million versus $404.41 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -15.2% change.
- Revenues- Automotive leasing: $476 million compared to the $480.86 million average estimate based on four analysts. The reported number represents a change of -15.6% year over year.
- Total Automotive Revenue: $17.38 billion versus $18.22 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -13% change.
- Gross profit- Total Automotive: $3.21 billion versus the six-analyst average estimate of $3.03 billion.
- Gross profit- Services and other: $81 million compared to the $94.65 million average estimate based on five analysts.
View all Key Company Metrics for Tesla here>>>Shares of Tesla have returned -17.7% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.