Understanding Tesla's Q2 2024 Financial Results: Earnings Insights and Analysis
Sep 5, 2024 09:46Tesla's Key Indicators in Earnings Report of Q2 2024
In the latest earnings report released by Tesla, the following financial data are worthy of attention.
Actual Value | Estimated Value | YoY Change | |
|---|---|---|---|
Revenue | US$25.500B | US$24.741B | +2.30% |
Net Profit | US$1.494B | - | -42.85% |
EPS | 0.420 | 0.484 | -46.15% |
Gross Margin | 17.95% | - | -1.28% |
Net Margin | 5.86% | - | -44.13% |
Tesla Q2 2024 Earnings Call Transcript
Tesla Q2 2024 Financial Performance
- Seasonal decline in revenues QoQ; auto margins decreased to 18.5% due to Cybertruck and Model 3 ramp-up.
- Energy business margins hit record 24.6%; negative free cash flow of $2.5 billion in Q1.
Tesla Q2 2024 Business Progress
- Tesla to start production of new vehicle models in early 2025; AI training capacity doubled in Q1.
- Full Self-Driving Version 12 rolled out to 1.8 million vehicles; Cybercab showcase planned for August.
Tesla Q2 2024 Opportunity
- Significant growth expected in energy storage deployments; advancements in AI and full self-driving technology.
Tesla Q2 2024 Risk
- Risks from macroeconomic uncertainties and operational disruptions during new model ramp-ups.
Tesla's Forecast By Third Party Analyst Rating of Q2 2024
- Third Party Analyst rating of Tesla: Hold
- Tesla Target Price: US$221.22
- Tesla EPS Forecast: US$0.530
- Tesla Revenue Forecast: US$25.656B
- Tesla EBIT Forecast: US$2.083B
For more information on what the analyst ratings may mean, visit https://pro.benzinga.com/blog/what-do-stock-analyst-ratings-mean/ (Benzinga is not affiliated with Futu Securities International (Hong Kong) Limited, or its affiliates.)
Tesla's Institutional Ownership & Shareholders of Q2 2024
Holder | Shares Held | Shares Held (%) | Change (Shares) | Change (%) |
|---|---|---|---|---|
| The Vanguard | 237,623,239 | 7.44% | 4,021,119 | +0.12% |
| BlackRock | 190,084,412 | 5.95% | 1,715,845 | +0.05% |
| State Street Global Advisors | 113,968,364 | 3.57% | 2,139,994 | +0.07% |
| Geode Capital Management, LLC | 58,333,812 | 1.83% | 1,425,301 | +0.04% |
| Capital Research | 54,602,128 | 1.71% | 9,754,525 | +0.30% |
| Norges Bank Investment Management | 30,831,666 | 0.97% | -739,312 | -0.02% |
| UBS Asset Management | 30,123,127 | 0.94% | 5,471,711 | +0.17% |
| T. Rowe Price Group, Inc. | 26,787,373 | 0.84% | 4,832,819 | +0.15% |
| Northern Trust Global Investments | 24,156,801 | 0.76% | 148,940 | +0.00% |
| Morgan Stanley | 22,420,507 | 0.70% | -207,615 | -0.01% |
The institutional holding data indicates that Tesla has garnered positive attention from institutional investors. Major holders such as Vanguard, BlackRock, and State Street Global Advisors have shown an increasing trend in their holdings, suggesting optimism about the future performance of Tesla. Notably, Capital Research has significantly increased its stake, possibly reflecting an improvement in the company's fundamentals or a stronger market position. However, reductions by entities like Norges Bank Investment Management and Morgan Stanley may reflect concerns about market conditions or specific company risks. Overall, the substantial increases in holdings suggest a positive market sentiment towards Tesla, but investors should still consider the implications behind the reductions by some institutions.
How to Buy Tesla Stocks？
Step 1: Opening a Brokerage Account
To start trading stocks, the initial step is to acquire a brokerage account. When choosing an online stock brokerage, there are two critical factors to consider: brokerage offerings and a user-friendly platform. Futubull app would be helpful.
Step 2: Deciding how many shares to buy
To gain initial experience, it's wise to paper trade using a stock market simulator. Alternatively, start with a small investment amount.
Step 3: Buying stocks using the right order type
To master stock buying, it's essential to understand three critical order types: market orders, limit orders, and stop orders.
Step 4: Placing the stock order with your brokerage
Where can I find when companies are scheduled to report their earnings?
On the earnings calendar of Futubull app, there is a list available for you to view the companies that are reporting earnings today.
Where can I find more information about Tesla's earnings reports?
On the Futubull app, you can find financial data, earnings call summaries, analyst ratings, announcement AI summaries, etc. for each company.
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