{"id":1493462,"date":"2024-10-02T13:35:00","date_gmt":"2024-10-02T17:35:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1493462"},"modified":"2024-10-02T13:35:00","modified_gmt":"2024-10-02T17:35:00","slug":"tesla-shares-dip-after-reporting-462890-q3-deliveries-missing-analyst-estimates","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/tesla-shares-dip-after-reporting-462890-q3-deliveries-missing-analyst-estimates\/1493462\/","title":{"rendered":"Tesla Shares Dip After Reporting 462,890 Q3 Deliveries, Missing Analyst Estimates"},"content":{"rendered":"

Tesla Shares Dip After Reporting 462,890 Q3 Deliveries, Missing Analyst Estimates<\/span><\/p>\n

\n

Tesla shares are dipping heading into the cash open on Wednesday after the company reported\u00a0462,890 total deliveries during the third quarter.<\/p>\n

Tesla reported 462,890 deliveries and 469,796 vehicles produced in Q3 2024. Analysts, based on FactSet StreetAccount estimates, had expected 463,310 deliveries for the quarter ending September 30.\u00a0<\/p>\n

<\/a><\/p>\n

Though Tesla doesn\u2019t define “deliveries” in its financials, it\u2019s seen as the closest metric to units sold and is a key figure for Wall Street. A year ago, Tesla posted 435,059 deliveries and 430,488 vehicles produced, while last quarter it reported 443,956 deliveries and production of 410,831 units.<\/p>\n

There was even a whisper number of 472,000<\/a> based on VIN data, which is why shares may be dipping.\u00a0<\/p>\n

\u00a0<\/p>\n

<\/a><\/p>\n

Prior to the report,\u00a0Piper Sandler\u2019s Alexander Potter had raised his delivery estimate<\/a> to 459,000 EVs for Q3 and 1.75 million for the year, slightly below consensus but optimistic about Tesla\u2019s performance in China, Yahoo Finance wrote<\/a> this week.\u00a0<\/p>\n

<\/a><\/p>\n

Barclays\u2019 Dan Levy projects over 470,000 units in Q3, citing global EV sales and August data from China. \u201cOur delivery estimate implies volume up ~6% sequentially and ~8% year-over-year,\u201d Levy noted. \u201cWe believe a beat could drive further stock strength into Robotaxi Day.\u201d<\/p>\n

Wedbush\u2019s Dan Ives expects sales and profitability to improve. \u201cPrice cuts are mostly in the rear view mirror, removing a margin overhang…we believe gross margins should finally start to rebound in 3Q,\u201d Ives stated.<\/p>\n

S&P Global Mobility reports Tesla sold over 5,000 Cybertrucks in July, bringing year-to-date sales to 17,722,\u00a0according to Yahoo Finance<\/a>.<\/p>\n

<\/a><\/p>\n

Deutsche Bank projects Q3 sales to reach 13,500 units. Although just 3% of total sales, the Cybertruck\u2019s growth could impact whether Tesla meets overall delivery targets.<\/p>\n

For now, the bigger catalyst could be the company’s October 10 robotaxi event, which has driven shares up 20% in a month. More significant news might also come from the company’s Optimus robotics program.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 10\/02\/2024 – 09:35<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/tesla-shares-dip-after-reporting-462890-q3-deliveries-missing-analyst-estimates<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla Shares Dip After Reporting 462,890 Q3 Deliveries, Missing Analyst Estimates Tesla shares are dipping heading into the cash open on Wednesday after the company…<\/p>\n","protected":false},"author":0,"featured_media":1493463,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1493462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1493462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1493462"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1493462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1493463"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1493462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1493462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1493462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}