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Tesla Reports Q2, 2021 Earnings. EPS: $1.02 GAAP; $1.45 NON-GAAP

We have breaking news of Tesla reporting on its Q2, 2021 earnings - beating expectations. GAAP earnings came in at $1.02 and NON-GAAP earnings came in at $1.45, which included a $23 million Bitcoin (one-time) impairment charge. Revenue was at $11.958 Billion -vs- $11.3 Billion expected. Let's dive into Tesla's earnings more.


Tesla has reported on its Q2, 2021 earnings with the key information:

Total Revenue: $11.958 Billion
GAAP Earnings Per Share: $1.02
Non-GAAP Earnings Per Share: $1.45

This puts Tesla's trailing twelve month GAAP earnings per share at $1.92 ($.27+$.24+$.39+$1.02). This is the biggest eye opener to pay attention to and this will keep growing at a rapid rate each quarter. The previous trailing twelve month GAAP earnings per share was $1. This has increased almost 100% and at a stock price of $665 and a price earnings ratio of 670, we should see the price earnings ratio drop to around 350 at current stock price.

Highlights from Tesla Earnings

  • Total revenue reached a record high of $11.958 Billion
  • Total automotive revenue reached a record high of $10.206 Billion
  • Regulatory credits revenue is the lowest in over a year at $354 Million
  • Automotive Gross Margin is the highest in over a year at 28.4%
  • Earnings Per Share GAAP beat expectations at $1.02/share
  • Earnings Per Share Non-GAAP beat expectations at $1.45/share
  • Adjusted EBIDTA reached record levels at $2.487 Billion

Total revenue grew 98% year over year and was due to growth in vehicle deliveries as well as Model S and Model X deliveries starting to happen.

Tesla profitability increased due to automotive gross margin increasing and demand for all vehicles, including Model S and Model X.

Tesla energy reached 1,274 MWh of storage deployed which is almost its highest ever.

Tesla CyberTruck, Tesla Semi, Tesla Roadster, and "Future Product" are all marked as "In development".

Tesla is still working on releasing its vehicles from its Giga factories in Austin TX, and Giga Berlin.

4680 batteries are still under development, but not in use yet.

Looking forward to the future, progress on autonomy and continued production ramping at all Tesla Giga factories will be important. Further details can be found at Tesla for Q2, 2021.

What do you think of Tesla's earnings for Q2, 2021. Is the beat a positive sign for Tesla?

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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter, Facebook, LinkedIn and Instagram to stay in touch and follow his Tesla news coverage on Torque News.