Financial details for Tesla's Q3 are on the horizon, and investors are yearning for clear insights into the company's electric vehicle strategies.
Tesla, the leading electric vehicle (EV) manufacturer, is set to release its third quarter 2024 financial results on Wednesday, three weeks after this article's publication. This announcement will follow a period of increased interest from investors, who are eager to know more about the company's financial performance and future plans.
One of the key areas of focus will be the profit margin in the automotive business, excluding the volatile income from the sale of CO2 credits. According to recent financial guidance and typical company disclosures, Tesla's automotive gross margin for Q3 2024 is expected to be approximately 27% to 28%. This expected margin is a slight increase from the recent 14.6%, which marks a steady decrease since early 2022.
Investors are also keen to know if Tesla is still on track to deliver an affordable model next year. While the management may not provide detailed information during the call, they are expected to comment on the progress and possibly confirm that more details will be revealed at a later date. The second most popular question among investors is about a Tesla electric vehicle for $25,000, another area where the management may only offer vague information.
In addition to the financial results and management commentary, Tesla is expected to provide an updated chart showing its automotive gross margin excluding regulatory credits after the announcement. The company's installed storage capacity also saw a significant increase in Q3 2024, rising by 72% to 6.9 gigawatt hours.
The conference call scheduled for Wednesday is likely to address these investor questions. Tesla management will discuss the past three months and provide a future outlook after the quarterly report. Analysts expect Tesla's total revenue in the third quarter of 2024 to exceed the previous year, averaging $25.4 billion, about 9% more than in Q3 2023.
Despite higher revenue, the market expects a decrease in profit. Last year, it was $0.66 per Tesla share, and this year, it is predicted to be around $0.60, a decrease of about 9%. It's worth noting that inquiries about the Semi truck and the Roadster are also among the top ten questions from investors, but these may not receive specific updates during the call.
CEO Elon Musk's focus for the future lies in autonomous electric vehicles and humanoid Tesla robots, which may be topics for future discussions rather than the immediate focus of the upcoming conference call. Nonetheless, the call promises to provide valuable insights into Tesla's current financial standing and future plans.
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