TSLA — Q4 2024 Earnings Call

Consumer Cyclical

Tesla Inc. • Reported: 2025-01-29

EPS Actual

$0.73

Est. $0.76 ▼ Miss

Revenue Actual

$25.7B

Est. $27.2B ▼ Miss

Overall Result

Double Miss

EPS + Revenue vs. estimates

Period

Q4 2024

FY2024 • Reported 2025-01-29

Executive Summary

Tesla reported Q4 2024 revenue of $25.7 billion, missing estimates by $1.5 billion, as vehicle deliveries fell short of expectations. Automotive revenue declined 8% YoY to $19.8 billion due to price cuts and slowing demand. However, Energy Generation and Storage revenue more than doubled to $3.1 billion. Tesla announced plans to begin autonomous ride-hailing in Austin, Texas in June 2025.

Key Highlights

Revenue negative

Revenue misses estimates

Q4 revenue of $25.7B missed the $27.2B consensus by $1.5B, driven by lower vehicle deliveries.

Deliveries negative

First annual delivery decline

Tesla delivered 495,570 vehicles in Q4, and full-year 2024 deliveries of 1.79M were the first annual decline.

Energy positive

Energy segment surges

Energy Generation and Storage revenue more than doubled to $3.1B with record deployments of 11 GWh.

Autonomy positive

Robotaxi launch planned

Tesla plans to launch autonomous ride-hailing service in Austin, TX in June 2025 using unsupervised FSD.

Margins negative

Automotive margins pressured

Automotive gross margin (ex-credits) fell to 17.0%, reflecting ongoing price reductions.

Guidance positive

20-30% delivery growth target

Tesla guided for 20-30% delivery growth in 2025, driven by a more affordable model launching in H1 2025.

Direct Quotes

Elon Musk

CEO • Robotaxi

"We expect to launch an autonomous ride-hailing service in Austin, Texas in June of this year. This is going to be the biggest product launch in history — bigger than anything ever."

Elon Musk

CEO • Growth Outlook

"The new more affordable model will start production in the first half of 2025. I think Tesla vehicle growth this year could be 20 to 30 percent."

Vaibhav Taneja

CFO • Energy Business

"Our energy business achieved record revenue and deployments, growing to be a meaningful contributor to overall profitability. Energy storage deployments reached 11 GWh in Q4."

Elon Musk

CEO • Optimus Robot

"Optimus is going to be the biggest product ever made by any company. We're planning limited production this year and expect it to be in useful operation at Tesla factories."

All TSLA Quarters

Q1 2025 →