Tesla’s Q1 2025 earnings were released in an Update Letter, which was posted on the company’s Investor Relations website after markets closed today, April 22, 2025.
Tesla Q1 2025 Deliveries
Tesla’s first quarter vehicle deliveries fell short of expectations, with the EV maker delivering a total of 336,681 vehicles, comprised of 323,800 Model 3/Y and 12,881 other models, worldwide. Vehicle production was at 362,615 units in the first quarter, comprised of 345,454 Model 3/Y and 17,161 other models.
Tesla Energy continued its momentum in Q1 2025, with the division deploying 10.4 GWh of energy storage products during the quarter.
What Wall Street Expects
As noted in a Forbes report, expectations are high that Tesla will report a gain of $0.35 per share on $21.85 billion in revenue, though whisper numbers suggest that the company will only post a gain of $0.31 per share. Analysts polled by FactSet expect Tesla to see an EPS of $0.41 per share on revenues of $21.27 billion, as noted in an Investors’ Business Daily report.
Tesla’s Q1 2025 Results In a Nutshell
Following are highlights of Tesla’s Q1 2025 update Letter:
- Total Revenues: $19.3 billion
- Total automotive revenues: $13.967 billion
- Total GAAP gross margin: 16.3%
- Gross Profit: $3.15 billion
- EPS non-GAAP: $0.27 per share
- Free cash flow: $664 million
Key Updates:
Tesla’s total revenue decreased 9% YoY to $19.3 billion YoY. This was due to a decline in vehicle deliveries, in part due to the new Model Y changeover and reduced vehicle average selling price (ASP), among other factors.
Tesla is still profitable, though operating income decreased 66% YoY to $0.4 billion. This also resulted in a a 2.1% operating margin. Tesla’s profitability in the first quarter was affected by reduced vehicle ASP, a decline in vehicle deliveries, and an increase in operating expenses driven by AI and other R&D projects partially offset by a decrease in SG&A, among other factors.
Tesla’s quarter-end cash, cash equivalents and investments stand at a healthy $37 billion. The sequential increase of $0.4 billion was primarily the result of positive free cash flow of $0.7 billion.
Below is Tesla’s first quarter 2025 Update Letter.
TSLA-Q1-2025-Update by Simon Alvarez
This article is being updated.
