Tesla (TSLA) launched its fourth quarter and full yr 2023 monetary outcomes and shareholder letter after market shut at present.
We are going to replace this publish with full particulars of the monetary outcomes, shareholder letter and convention name later tonight. Refresh for the most recent info.
Tesla This autumn 2023 Earnings Expectations
As we reported yesterday in our Tesla This autumn 2023 earnings forecast, the Wall Road consensus for the quarter was the identical $25,640 billion in income and deserves of $0.73 per share.
Did Tesla meet, exceed or miss expectations?
Tesla This autumn 2023 monetary outcomes
Simply after the market closed at present, Tesla introduced its monetary outcomes and confirmed that it had missed expectations with income of $0.71 per share (non-GAAP) and income with $25.167 billion over the last quarter.
Precise GAAP earnings are literally a lot greater, at $2.27 per share. Tesla defined:
One-time non-cash tax good thing about $5.9 billion recorded within the fourth quarter because of the launch of valuation allowance on sure deferred tax belongings.
Tesla’s gross margin on automobiles fell once more this quarter, albeit barely: 17.6% decrease than 17.9%.
This is because of worth reductions, that are nonetheless taking place at a sooner tempo than price financial savings. The automaker nonetheless managed to cut back prices within the fourth quarter:
Price of products offered per car declined sequentially within the fourth quarter. Our group stays targeted on growing our manufacturing, investing in our future progress and discovering further price efficiencies in 2024.
We’ll publish our follow-up earnings and convention name posts right here to focus on key factors (refresh the web page to see the newest posts):
This is Tesla’s full fourth-quarter 2023 shareholder presentation:
This is Tesla’s This autumn 2023 earnings convention name:
FTC: We use monetized auto-affiliate hyperlinks. Extra.