As Tesla stock slumps post earnings on concern over profitability and new product reveals, one part of the business is surging — Tesla Energy.
) stock slumps post earnings on concern over profitability and new product reveals, one part of the business is surging — Tesla Energy .In its Q2 financial report, Tesla said the said that it deployed 9.4 GWh of battery energy storage , its highest quarterly amount ever, and more than double the amount of battery storage the company deployed in the first quarter. The deployments led to record revenues and gross profit for the unit.as well, with gross margins expanding to 24.
“The growth has been impressive, the profitability - they are the lost cost producer in that segment, so we expect to see the growth really drive earnings in next few years,” she said. Laffer Tengler funds hold approximately 11,270 shares of Tesla. Analysts at Baird also noted that “strength” in the Energy business and increasing regulatory credits that Tesla enjoys from EV sales will help offset headwinds from short term weakness in auto margins. Baird has an Outperform rating and $265 price target.
Nevertheless, Tesla Energy is a growing part of the Tesla web of ventures — from automotive, to charging, to AI, to services. And it might just be the most valuable in just a few years time, if it can keep up its profitable growth, just like Amazon’s AWS — which saw its revenue jump 17% year over year in the most recent quarter.
Energy Storage Energy Business Gross Profit Tesla Gross Margins
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