Tesla (TSLA) Misses Q1 EPS by 15c, Says Rate of Growth this Year Will Depend on Variety of Factors

Tesla (NASDAQ: TSLA) reported Q1 EPS of $0.27, $0.15 worse than the analyst estimate of $0.42. Revenue for the quarter came in at $19.34 billion versus the consensus estimate of $21.4 billion.

Outlook:

• It is difficult to measure the impacts of shifting global trade policy on the automotive and energy supply chains, our cost structure and demand for durable goods and related services. While we are making prudent investments that will set up both our vehicle and energy businesses for growth, the rate of growth this year will depend on a variety of factors, including the rate of acceleration of our autonomy efforts, production ramp at our factories and the broader macroeconomic environment. We will revisit our 2025 guidance in our Q2 update.
• We have sufficient liquidity to fund our product roadmap, long-term capacity expansion plans and other expenses. Furthermore, we will manage the business such that we maintain a strong balance sheet during this uncertain period.
• While we continue to execute on innovations to reduce the cost of manufacturing and operations, over time, we expect our hardware related profits to be accompanied by an acceleration of AI, software and fleet-based profits.
• Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025. These vehicles will utilize aspects of the next generation platform as well as aspects of our current platforms and will be produced on the same manufacturing lines as our current vehicle lineup. This approach will result in achieving less cost reduction than previously expected but enables us to prudently grow our vehicle volumes in a more capex efficient manner during uncertain times. This should help us fully utilize our current expected maximum capacity of close to three million vehicles, enabling more than 60% growth over 2024 production before investing in new manufacturing lines. Our purpose-built Robotaxi product – Cybercab – will continue to pursue a revolutionary “unboxed” manufacturing strategy and is scheduled for volume production starting in 2026.

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