Tesla’s financial results in 2024 were released – and they are terrible

Tesla published its financial results for 2024 Wednesday afternoon, after the end of the markets. The manufacturer of electric vehicles may have to invest in red ink actions, because the 2024 results were even less impressive than the figures of 2023 already subtracted.

Q4, 2024

During the last quarter of last year, Tesla saw its automobile revenues drop by 8% compared to the same three months of 2023, falling to $ 19.8 billion. It has more than doubled its energy and storage income, which increased by 113% compared to the fourth quarter of 2023, but this represents only $ 3 billion and a small fraction of the overall activity of Tesla. Similarly, the services posted growth of 31% in these three months, but again, the real contribution in dollars was only $ 2.8 billion.

Total turnover increased by 2% in the fourth quarter, but income dropped by 23%, and its operating margin fell to only 6.2% – the lowest since the first quarter of 2024. On the other hand , the average operating margin of the industry for a car manufacturer is around 10%. Net profits dropped 71% to $ 2.3 billion.

The year as a whole

For all 2024, Tesla experienced a 6% drop in automotive income, to $ 77 billion. Energy production and storage increased by 67% to a total of $ 10 billion. The services increased by 27% during the year, which earns $ 10.5 billion in income. This means that total income increased by 1% in 2024; During the same period, Tesla’s share price increased by 103%.

But the raw profits dropped by 1%, the net profits falling on a huge 53% to 7.1 billion dollars for the year, which has made this tesla the worst year since 2021, while it does not ‘ realized that $ 5.5 billion in profits. The available cash flows dropped 18% over the year to $ 3.6 billion. Plafing in the profit and loss statement, $ 2.8 billion in this profit came from the sale of regulatory credits to other car manufacturers, and not from the sale of cars or even access to compressor.