Tesla Tops Q3 Revenue Estimates as Deliveries Rebound, Energy Storage Grows
TSLA sits 31% above its 52-week low of $297.38.
Summary
Tesla beat on the top line with Q3 revenue of $28.05B versus the $27.88B consensus, helped by 486,532 deliveries that cleared the ~461,100 estimate and a growing energy storage unit that brought in $2.88B in energy generation and storage revenue. Total automotive revenues were $20.56B. Deliveries still fell about 2% year over year, and production of 464,391 left a drawdown of more than 22,000 vehicles — a second straight quarter of inventory reduction. Heavy AI and robotaxi spending weighed on profit, with EPS of 22c, net income of $787M and adjusted EPS of 48c, the same cost pressure that drove the 15% post-earnings selloff in July. The auto business remains the weak spot: Cybertruck and other models fell to 8,295 units from 12,364 in Q2, Model S and Model X production has ended at Fremont, and the lineup still leans on the aging Model 3 and Model Y. Cash, cash equivalents and short-term investments stood at $45.447B. Separately, Musk said Tuesday that special committees have been formed to discuss a possible SpaceX merger, a live variable for both tickers. Shares are down about 14% this year heading into this print.
At the time of this announcement, TSLA was trading at $389.72 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $1.5T. The 52-week trading range was $297.38 to $498.83. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Reuters.