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Q3 Earnings Highlights: Tesla (NASDAQ:TSLA) Vs The Rest Of The Automobile Manufacturing Stocks

TSLA Cover Image

Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Tesla (NASDAQ: TSLA) and its peers.

Much capital investment and technical know-how are needed to manufacture functional, safe, and aesthetically pleasing automobiles for the mass market. Barriers to entry are therefore high, and auto manufacturers with economies of scale can boast strong economic moats. However, this doesn’t insulate them from new entrants, as electric vehicles (EVs) have entered the market and are upending it. This has forced established manufacturers to not only contend with emerging EV-first competitors but also decide how much they want to invest in these disruptive technologies, which will likely cannibalize their legacy offerings.

The 11 automobile manufacturing stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 4.7%.

Thankfully, share prices of the companies have been resilient as they are up 7.9% on average since the latest earnings results.

Tesla (NASDAQ: TSLA)

Originally founded by Martin Eberhard and Marc Tarpenning in 2003, Tesla (NASDAQ: TSLA) is an electric vehicle company accelerating the world’s transition to sustainable energy.

Tesla reported revenues of $28.1 billion, up 11.6% year on year. This print exceeded analysts’ expectations by 5.7%. Overall, it was a satisfactory quarter for the company with an impressive beat of analysts’ revenue estimates but a significant miss of analysts’ EPS estimates.

Tesla Total Revenue

Interestingly, the stock is up 1.7% since reporting and currently trades at $446.85.

Is now the time to buy Tesla? Access our full analysis of the earnings results here, it’s free.

Best Q3: Ford (NYSE: F)

Established to make automobiles accessible to a broader segment of the population, Ford (NYSE: F) designs, manufactures, and sells a variety of automobiles, trucks, and electric vehicles.

Ford reported revenues of $50.53 billion, up 9.4% year on year, outperforming analysts’ expectations by 9.1%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

Ford Total Revenue

The market seems happy with the results as the stock is up 13.4% since reporting. It currently trades at $13.98.

Is now the time to buy Ford? Access our full analysis of the earnings results here, it’s free.

Lucid (NASDAQ: LCID)

Founded by a former Tesla Vice President, Lucid Group (NASDAQ: LCID) designs, manufactures, and sells luxury electric vehicles with long-range capabilities.

Lucid reported revenues of $336.6 million, up 68.3% year on year, falling short of analysts’ expectations by 3.2%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and adjusted operating income estimates.

As expected, the stock is down 36.5% since the results and currently trades at $10.97.

Read our full analysis of Lucid’s results here.

Autoliv (NYSE: ALV)

With products estimated to save over 30,000 lives annually in traffic accidents worldwide, Autoliv (NYSE: ALV) develops and manufactures passive safety systems for vehicles, including airbags, seatbelts, and steering wheels that protect occupants during crashes.

Autoliv reported revenues of $2.71 billion, up 5.9% year on year. This result topped analysts’ expectations by 1%. It was an exceptional quarter as it also put up a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ EBITDA estimates.

The stock is up 5.8% since reporting and currently trades at $128.17.

Read our full, actionable report on Autoliv here, it’s free.

Winnebago (NYSE: WGO)

Created to provide high-quality, affordable RVs to the post-war American family, Winnebago (NYSE: WGO) is a manufacturer of recreational vehicles, providing a range of motorhomes, travel trailers, and fifth-wheel products for outdoor and adventure lifestyles.

Winnebago reported revenues of $702.7 million, up 12.3% year on year. This number beat analysts’ expectations by 10.9%. Overall, it was a stunning quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The stock is up 14% since reporting and currently trades at $45.97.

Read our full, actionable report on Winnebago here, it’s free.

Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

StockStory’s analyst team — all seasoned professional investors — uses quantitative analysis and automation to deliver market-beating insights faster and with higher quality.

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