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Tesla, Inc. (NASDAQ: TSLA) is a pioneering American multinational company based in Austin, Texas, that is at the forefront of the automotive and energy sectors. Tesla designs and manufactures electric vehicles (EVs), including luxury and midsize sedans, crossover SUVs, a light truck, and a semi-truck. The company also has plans to introduce more affordable vehicles and a sports car. In 2023, Tesla achieved global deliveries of over 1.8 million vehicles, solidifying its position as a leader in the EV market.
Tesla's energy division produces stationary battery energy storage devices suitable for both residential and commercial use, from home battery systems to large-scale grid solutions. The company's solar energy products include solar panels and solar roof tiles. Additionally, Tesla operates its own fast-charging network, providing convenient charging solutions for EV owners.
Tesla is a vertically integrated company, meaning it controls multiple stages of its production process, including the development of autonomous driving software. This approach allows Tesla to optimize its operations and innovate rapidly. Recent achievements include a significant deal with bp pulse, BP's EV charging business, to supply $100 million worth of Tesla's ultra-fast charging hardware units. This partnership aims to expand BP's public charging infrastructure across the U.S., with installations beginning in 2024.
Financially, Tesla continues to show robust performance, driven by its innovative technologies and strategic partnerships. The company’s efforts to expand its product line and enhance its energy solutions demonstrate its commitment to accelerating the world's transition to sustainable energy.
Tesla (TSLA) reported its Q4 and full year 2024 financial results, showing mixed performance. Total revenue increased 2% YoY to $25.7 billion in Q4, driven by growth in Energy Generation and Storage, Services, vehicle deliveries, and higher regulatory credit revenue. However, revenue was negatively impacted by reduced S3XY vehicle average selling prices due to pricing adjustments, financing options, and mix.
Operating income declined 23% YoY to $1.6 billion, resulting in a 6.2% operating margin. The decrease was primarily due to lower vehicle ASPs and increased operating expenses from AI and R&D projects, partially offset by lower cost per vehicle and higher regulatory credit revenue. Quarter-end cash, cash equivalents, and investments reached $36.6 billion, with positive free cash flow of $2.0 billion.
Tesla has reported strong performance for Q4 2024, with record-breaking deliveries and energy storage deployments. The company produced approximately 459,000 vehicles and delivered over 495,000 vehicles in the fourth quarter. Energy storage deployments reached 11.0 GWh, marking a new record.
For the full year 2024, Tesla achieved total production of 1,773,443 vehicles and deliveries of 1,789,226 units. The Model 3/Y line accounted for the majority, with 1,704,093 deliveries. Annual energy storage deployments totaled 31.4 GWh.
The company will announce its complete Q4 2024 financial results, including net income and cash flow, after market close on January 29, 2025, followed by a live Q&A webcast at 4:30 p.m. Central Time.
Tesla (TSLA) reported strong Q3 2024 financial results with total revenue of $25.2B, up 8% YoY. The company achieved $2.7B in GAAP operating income with a 10.8% operating margin. Cost of goods sold per vehicle reached its lowest level at $35,100. Cash position strengthened to $33.6B, with free cash flow of $2.7B. The company recorded its second-highest quarter of regulatory credit revenues and achieved record gross margins in its Energy business. Tesla plans to launch new, more affordable vehicle models in the first half of 2025 and continues to expand its AI capabilities, with training compute increasing by over 75% in Q3.
Tesla has released its production and delivery figures for the third quarter of 2024. The company produced approximately 470,000 vehicles and delivered approximately 463,000 vehicles. Additionally, Tesla deployed 6.9 GWh of energy storage products.
Breaking down the numbers, Tesla produced 443,668 Model 3/Y vehicles and 26,128 other models. Deliveries were 439,975 for Model 3/Y and 22,915 for other models. Approximately 3% of Model 3/Y and 1% of other models are subject to operating lease accounting.
Tesla will announce its Q3 2024 financial results on Wednesday, October 23, 2024, after market close. A live Q&A webcast will be held at 4:30 p.m. Central Time to discuss the results and outlook.
Tesla (TSLA) has announced the release of its Q2 2024 financial results. The company has posted an update on its Investor Relations website for shareholders and interested parties to review. To discuss these results and provide an outlook, Tesla management will host a live Q&A webcast on Tuesday, July 23, 2024, at 4:30 p.m. Central Time (5:30 p.m. Eastern Time).
Investors and analysts can access the Q2 2024 update and join the webcast through Tesla's Investor Relations website. The webcast will be archived on the company's site for future reference. This announcement serves as a notification for stakeholders to prepare for the upcoming financial disclosure and management discussion.
Tesla has announced its vehicle production and deliveries for the second quarter of 2024. The company produced approximately 411,000 vehicles and delivered around 444,000 vehicles. This includes 386,576 Model 3/Y and 24,255 other models.
Tesla also reported deploying 9.4 GWh of energy storage products in Q2, marking its highest quarterly deployment to date. The company will release its financial results for this quarter on July 23, 2024, after market close, followed by a live Q&A webcast at 4:30 p.m. Central Time.
The webcast will be available on Tesla's Investor Relations website, and an archived version will be accessible approximately two hours after the session. The financial results will include net income and cash flow data, which will be detailed in the Q2 earnings announcement.
Tesla held its 2024 Annual Meeting of Stockholders where shareholders approved the 2018 CEO Performance Award and the relocation of the company to Texas. As a result, Tesla is now a Texas Key proposals included electing directors James Murdoch and Kimbal Musk for three years, approving executive compensation, and ratifying the performance-based stock option award to Elon Musk.
Other approved proposals were the appointment of PricewaterhouseCoopers LLP as the independent auditor for 2024. However, several stockholder proposals, such as reducing director terms to one year and adopting sustainability metrics for executive compensation, were rejected.
The American Association for Justice, Americans for Financial Reform Education Fund, and Consumer Federation of America have raised concerns about Proposals 3 and 4 at Tesla's upcoming annual meeting on June 13, 2024. The proposals involve ratifying Elon Musk's 2018 compensation package, previously deemed misleading by a Delaware court, and moving Tesla's incorporation from Delaware to Texas. These actions could weaken shareholder protections and set a precedent for other companies to bypass court rulings meant to protect shareholders. Leading advisory firms have advised shareholders against approving these proposals, and major investors have criticized them. The Coalition warns that adopting these proposals could undermine corporate governance and shareholder rights broadly.
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