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Currency headwinds impacted Tesla (TSLA) Q3 2022 results by $250 million

The company's results for the third quarter were impacted by currency headwinds along with higher material costs.

October 19, 2022 1:39 PM

Tesla (TSLA) has shared its earnings report for Q3 2022, and in it is a wealth of information including how currency headwinds have impacted the company’s results for the third quarter by $250 million.

Looking over the earnings report more in-depth, it’s noted that the company increased ASP and things like growth in vehicle deliveries, while also facing “negative FX impact of ~$250M” and higher raw material, commodity, logistics, warranty, and expedite costs.

Financial Summary slide from Tesla Q3 2022 earnings report showing revenue and profitability information — © Tesla

Other details coming out of the earnings report include an increase in vehicle deliveries in Q3 and total revenue growth of 56 percent year-over-year in Q3 to $21.5 billion. With that being said, the year-over-year revenue was similarly affected by negative FX impact.

Numbers wise, the earnings report lists the following details for Q3 2022:

Automotive revenues: 18,692
Regulatory credits: 286
Automotive gross profit: 5,212
Automotive gross margin 27.9%

Slide from Tesla's Q3 2022 earnings report showing numbers and stats for things like automotive revenue and gross margin. — © Tesla

For more on Tesla’s Q3 2022 earnings, be sure to read through our other coverage including how Tesla’s (TSLA) Q3 2022 earnings results missed on revenue and beat EPS, and where you can listen to the Tesla (TSLA) Q3 2022 earnings call if you’re interested in diving deeper into the company’s latest reports.

Morgan Shaver

Senior Editor

Morgan is a writer from the frozen wastelands of Maine who enjoys metal music, kpop, horror, and indie games. They're also a Tetris fanatic who's fiercely competitive in games like Tetris 99... and all games in general. But mostly Tetris. You can follow Morgan on Twitter @Author_MShaver.

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