Tesla Releases Fourth Quarter and Full Year 2024 Financial Results
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 (TSLA) ha pubblicato i risultati finanziari del quarto trimestre e dell'intero anno 2024, mostrando una performance mista. Il fatturato totale è aumentato del 2% su base annua a 25,7 miliardi di dollari nel quarto trimestre, sostenuto dalla crescita nell'energia generativa e nello stoccaggio, nei servizi, nelle consegne di veicoli e nelle entrate più elevate dai crediti normativi. Tuttavia, le entrate sono state negativamente influenzate dalla riduzione dei prezzi di vendita medi dei veicoli S3XY a causa di aggiustamenti di prezzo, opzioni di finanziamento e mix.
Il reddito operativo è diminuito del 23% su base annua a 1,6 miliardi di dollari, portando a un margine operativo del 6,2%. La diminuzione è stata principalmente dovuta a un ridotto prezzo medio di vendita dei veicoli e ad un aumento delle spese operative per progetti di IA e R&S, parzialmente compensati da un costo per veicolo inferiore e maggiori entrate dai crediti normativi. Alla fine del trimestre, la liquidità, le equivalenti e gli investimenti hanno raggiunto 36,6 miliardi di dollari, con un flusso di cassa libero positivo di 2,0 miliardi di dollari.
Tesla (TSLA) informó sus resultados financieros del cuarto trimestre y del año completo 2024, mostrando un rendimiento mixto. Los ingresos totales aumentaron un 2% interanual a 25.7 mil millones de dólares en el cuarto trimestre, impulsados por el crecimiento en generación y almacenamiento de energía, servicios, entregas de vehículos y mayores ingresos por créditos regulatorios. Sin embargo, los ingresos se vieron afectados negativamente por la reducción de los precios promedio de venta de vehículos S3XY debido a ajustes de precios, opciones de financiamiento y mezcla.
El ingreso operativo disminuyó un 23% interanual a 1.6 mil millones de dólares, resultando en un margen operativo del 6,2%. La disminución se debió principalmente a precios promedio de vehículos más bajos y costos operativos incrementados por proyectos de IA e I+D, parcialmente compensados por un costo por vehículo más bajo y mayores ingresos por créditos regulatorios. Al final del trimestre, el efectivo, equivalentes y las inversiones alcanzaron 36.6 mil millones de dólares, con un flujo de caja libre positivo de 2.0 mil millones de dólares.
테슬라 (TSLA)는 2024년 4분기 및 전체 연간 재무 결과를 발표했으며, 혼합된 성과를 보였습니다. 총 수익은 전년 대비 2% 증가하여 257억 달러에 달했으며, 이는 에너지 생성 및 저장, 서비스, 차량 인도 및 높은 규제 크레딧 수익 증가에 기인합니다. 그러나 수익은 S3XY 차량의 평균 판매 가격이 가격 조정, 금융 옵션 및 믹스에 따라 감소함에 따라 부정적인 영향을 받았습니다.
운영 소득은 전년 대비 23% 감소하여 16억 달러에 달했으며, 운영 마진은 6.2%로 나타났습니다. 감소는 주로 차량 평균 판매 가격 하락과 AI 및 R&D 프로젝트로 인한 운영 비용 증가로 인해 발생했으며, 부분적으로는 차량당 비용 감소와 높은 규제 크레딧 수익에 의해 상쇄되었습니다. 분기 말 현금, 현금성 자산 및 투자액은 366억 달러에 도달했으며, 긍정적인 자유 현금 흐름은 20억 달러를 기록했습니다.
Tesla (TSLA) a publié ses résultats financiers du quatrième trimestre et de l'année 2024, montrant des performances mixtes. Le chiffre d'affaires total a augmenté de 2 % par rapport à l'année précédente, atteignant 25,7 milliards de dollars au quatrième trimestre, soutenu par la croissance dans la génération et le stockage d'énergie, les services, les livraisons de véhicules et des revenus accrus provenant de crédits réglementaires. Cependant, le chiffre d'affaires a été négativement impacté par la baisse des prix de vente moyens des véhicules S3XY en raison d'ajustements de prix, d'options de financement et de mix.
Le résultat opérationnel a diminué de 23 % par rapport à l'année précédente, s'élevant à 1,6 milliard de dollars, ce qui a entraîné une marge opérationnelle de 6,2 %. La diminution était principalement due à la baisse des prix moyens de vente des véhicules et à l'augmentation des frais d'exploitation liés aux projets d'IA et de R&D, partiellement compensée par une baisse du coût par véhicule et des revenus réglementaires plus élevés. À la fin du trimestre, les liquidités, les équivalents de liquidités et les investissements ont atteint 36,6 milliards de dollars, avec un flux de trésorerie libre positif de 2,0 milliards de dollars.
Tesla (TSLA) hat seine finanziellen Ergebnisse für das vierte Quartal und das Gesamtjahr 2024 veröffentlicht und dabei eine gemischte Leistung gezeigt. Der Gesamtumsatz stieg im Jahresvergleich um 2% auf 25,7 Milliarden Dollar im vierten Quartal, was durch das Wachstum im Bereich Energieerzeugung und -speicherung, Dienstleistungen, Fahrzeugauslieferungen und höhere Einnahmen aus regulatorischen Krediten angetrieben wurde. Der Umsatz wurde jedoch negativ von gesenkten Durchschnittspreisen für S3XY-Fahrzeuge beeinflusst, die auf Preisänderungen, Finanzierungsoptionen und Mischungen zurückzuführen sind.
Das operative Ergebnis ging im Jahresvergleich um 23% auf 1,6 Milliarden Dollar zurück, was zu einer operativen Marge von 6,2% führte. Der Rückgang war hauptsächlich auf niedrigere Fahrzeugdurchschnittspreise und gestiegene Betriebskosten durch KI- und F&E-Projekte zurückzuführen, die teilweise durch niedrigere Kosten pro Fahrzeug und höhere Einnahmen aus regulatorischen Krediten ausgeglichen wurden. Am Ende des Quartals erreichten Bargeld, Zahlungsmitteläquivalente und Investitionen 36,6 Milliarden Dollar mit einem positiven freien Cashflow von 2,0 Milliarden Dollar.
- Total revenue grew 2% YoY to $25.7B in Q4
- Quarter-end cash position strong at $36.6B
- Positive free cash flow of $2.0B
- Growth in Energy Generation, Storage, and Services segments
- Lower raw material costs per vehicle
- Operating income decreased 23% YoY to $1.6B
- Operating margin declined to 6.2%
- Reduced S3XY vehicle average selling prices
- Increased operating expenses from AI and R&D projects
- Lower fixed cost absorption from production decrease
Insights
Tesla's Q4 2024 financial results paint a complex picture of a company navigating significant industry headwinds while investing heavily in future technologies. The
The
Three key factors warrant attention:
- The reduction in S3XY vehicle ASPs indicates Tesla's shift from a premium pricing strategy to a more volume-driven approach, potentially signaling a permanent shift in the company's market positioning
- The growth in Energy Generation and Services segments demonstrates successful diversification beyond automotive, though these segments still can't fully offset automotive margin pressure
- The robust cash position of
$36.6B and positive free cash flow of$2.0B provide significant strategic flexibility for continued R&D investments and market expansion
The increased reliance on regulatory credits for profitability raises concerns about sustainable earnings quality, particularly as more traditional automakers expand their EV offerings. The company's strategic pivot toward AI and R&D investments, while pressuring current margins, positions Tesla for potential leadership in autonomous driving and energy solutions, though execution risks remain substantial.
As previously announced, Tesla management will host a live question and answer (Q&A) webcast at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the results and outlook.
What: Tesla Fourth Quarter and Full Year 2024 Financial Results Q&A Webcast
When: Wednesday, January 29, 2025
Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q4 & FY 24 Update: https://ir.tesla.com
Webcast: https://ir.tesla.com (live and replay)
The webcast will be archived on the company’s website following the call.
FINANCIAL SUMMARY
Revenue
Total revenue increased
- + growth in Energy Generation and Storage and Services and Other
- + growth in vehicle deliveries
- + higher regulatory credit revenue
- - reduced S3XY vehicle average selling price (ASP) (excl. FX impact1), due to pricing, attractive financing options, and mix
Profitability
Our operating income decreased
- - reduced S3XY vehicle ASP
- - increase in operating expenses driven by AI and other R&D projects
- + growth in Energy Generation and Storage and Services and Other gross profit
- + lower cost per vehicle, including lower raw material costs partially offset by lower fixed cost absorption from production decrease YoY
- + higher regulatory credit revenue
Cash
Quarter-end cash, cash equivalents and investments in Q4 was
View source version on businesswire.com: https://www.businesswire.com/news/home/20250129018824/en/
Investor Relations Contact:
ir@tesla.com
Source: Tesla
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