6,366
edits
Volkswagen:Quarterly Results/2024 Q3: Difference between revisions
Volkswagen:Quarterly Results/2024 Q3 (view source)
Revision as of 09:36, 24 October 2024
, 24 October 2024→Competitor expectations and results
No edit summary |
|||
| Line 124: | Line 124: | ||
== Competitor expectations and results == | == Competitor expectations and results == | ||
=== Tesla === | |||
'''Tesla’s Q3 2024 revenue slightly missed estimate while EPS topped estimates signaling a rebound in the EV market''' | |||
* Tesla [https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf Q3 2024] revenue came in at $25.18 billion (+8% y/y) versus [https://www.cnbc.com/2024/10/23/tesla-tsla-q3-2024-earnings-report.html analysts estimate] of $25.37 billion, adjusted EPS was $0.72 versus $0.58 estimate while automotive gross margin (excluding regulatory credits) rose to 17.1%, beating analysts’ estimates and up from 14.6% a year ago. | |||
* The company said revenue was boosted by growth in vehicle deliveries (+6% y/y) and higher regulatory credit revenue among others, but was impacted by a decline in average selling price of its vehicles. | |||
* In the [https://www.fool.com/earnings/call-transcripts/2024/10/23/tesla-tsla-q3-2024-earnings-call-transcript/ earnings call], Elon Musk said cheaper EVs that they will launch next year gives him confidence that they will achieve a 20% to 30% growth in deliveries in 2025. | |||
* Seth Goldstein, Morningstar analyst, [https://www.bloomberg.com/news/articles/2024-10-23/tesla-earnings-surpass-expectations-after-strong-deliveries?srnd=homepage-europe said] Tesla benefited from higher volumes, reduced unit costs and stabilizing prices. | |||
=== General Motors === | |||
'''General Motors Q3 2024 revenue and EPS topped analysts estimates, boosted by continued strength in pricing''' | |||
* General Motors’ [https://investor.gm.com/news-releases/news-release-details/gm-releases-2024-third-quarter-results-and-updates-full-year Q3 2024] revenue rose 10.5% y/y to $48.76 billion, exceeding analysts’ [https://www.cnbc.com/2024/10/22/general-motors-gm-earnings-q3-2024.html#:~:text=GM%20is%20now%20forecasting%20full,billion%2C%20or%20%249.50%20and%20%2410.50. estimate] of $44.59 billion while EPS came in at $2.96 versus $2.43 estimate. | |||
* GM’s results were boosted by continued strength in pricing.<blockquote>“Pricing for the quarter was up $900 million year over year and better than what we assumed in our guidance. About half of this pricing benefit was from really strong performance from our midsized SUVs, especially the Chevrolet Traverse. The rest was primarily from pricing adjustments that we made on our full-size SUVs and the Corvette in the fourth quarter of last year, which have now been fully lapped,” CEO Paul Jacopson said in the [https://www.fool.com/earnings/call-transcripts/2024/10/22/general-motors-gm-q3-2024-earnings-call-transcript/ earnings call].</blockquote> | |||
* Jacopson said in the media briefing that the consumer remains strong.<blockquote>“The consumer has held up remarkably well for us,” he said. “Nothing we see has changed from where we’ve been for the last several quarters.”</blockquote> | |||
* GM raised its full-year 2024 adjusted EBIT to a range of $14 billion and $15 billion (previously: $13- $15 billion). | |||
== Analysts opinions == | == Analysts opinions == | ||