Category: Uncategorized
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Rivian Q3 2024 $874M revenue, net income of $(1.100)B
Rivian reported their Q3 2024 earnings. Revenue was $874M and it resulted in a loss of -$1.1B. It improved from -$1.367B last year same quarter. Rivian is still losing money for each vehicle it sells. They reaffirmed 2024 full year delivery of 50,500 to 52,000 vehicles. They remain on track for positive gross profit for…
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Tesla Q3 2024 $25.182B revenue, $2.167B Net income
October 23, 2024, Tesla announced revenue of $25.182B up 8% yoy and net income $2.167B up 17% yoy for Q3 2024. https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf Automotive revenue hit $20.016B up 2%. Energy generation and storage revenue was $2.376B, up 52% yoy. Services and other revenue was $2.790B up 29% yoy. Cost of goods per vehicle came down to…
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Tesla Q1 2024 earnings released, Revenue $17.378B down -9% yoy, GAAP Income $1.129B down -55% yoy, diluted EPS $0.34 down -47%
April 23, 2024, Tesla Q1 2024 revenue declined 9% yoy to $23.3B. Slide deck: https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q1-2024-Update.pdf Transcript available at: https://www.fool.com/earnings/call-transcripts/2024/04/23/tesla-tsla-q1-2024-earnings-call-transcript/ Fewer automotive deliveries are the reason, caused by shipping problems, lost of government incentives, a highly competitive EV market and tough interest rate environment globally. The earnings release noted that the industry is moving toward hybrids…
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Tesla SVP Powertrain and Energy Drew Baglino has left Tesla and sold $181 million shares and 10% layoff
April 16, 2024. After 18 years of service, Drew Baglino has left Tesla. He made his announcement on X. https://twitter.com/baglino/status/1779872449628426739 He had made several appearances on earnings calls and investor presentation and made contributions to Tesla’s success. Drew attended Stanford University according to his LinkedIn profile. Losing top talent is not good but it’s inevitable…
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Tesla Cybertruck delivered to customers
Tesla has delivered the first 10 Cybertruck to actual customers. After an extensive development period, it has made it out to the real world. Pricing, performance and availability details are now public. Cybertruck uses hard stainless steel and can withstand a large hammer hit and bullets. The stainless steel finish is not painted and Tesla…
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Reuters reports Tesla lowering Model Y output in China for last week of 2022.
Reuters reports that Tesla plans to suspend Model Y production at Shanghai the last week of 2022. It based its reporting on an internal memo and two unspecified person. They reported that Tesla may be cutting Model Y production 30% for December based on the knowledge of the two people Reuters spoke to. This information…