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Key Takeaways
- Tesla studies earnings after the bell Wednesday, quickly after each its newest quarterly supply knowledge and a robotaxi unveiling that despatched its inventory decrease.
- Analysts anticipate Tesla’s income to rise from the identical time final yr, whereas revenue is projected to fall barely.
- The robotaxi unveiling left some analysts disenchanted and searching for extra particulars on how and when the autonomous taxis will function.
Tesla (TSLA) studies earnings Wednesday after the bell, weeks after its robotaxi-unveiling occasion left traders and analysts with a lot of questions.
Analysts anticipate Tesla’s quarterly income to rise to $25.41 billion from $23.35 billion the identical time final yr, in accordance with Seen Alpha. The EV maker can be anticipated to report that revenue fell barely to $1.68 billion from $1.85 billion a yr in the past.
Analysts are considerably cut up on Tesla inventory, with the 19 analysts tracked by Seen Alpha holding 9 “purchase,” seven “maintain,” and three “promote” scores. Their common goal value, $223.22, is simply above Tesla’s Thursday closing inventory value of $220.89.
| Analyst Estimates for Q3 2024 | Q2 2024 | Q3 2023 | |
| Income | $25.41 billion | $25.5 billion | $23.35 billion |
| Earnings Per Share | 48 cents | 42 cents | 53 cents |
| Web Earnings | $1.68 billion | $1.48 billion | $1.85 billion |
Key Metric: Deliveries
Tesla’s third-quarter deliveries got here in above estimates earlier this month however did not spark a rally for the inventory like final quarter’s numbers did.
Wedbush Securities analysts stated that, following the deliveries report, surpassing estimates was a “step in the best path,” however acknowledged that they and the broader market have been hoping Tesla would beat projections by a wider margin.
Nevertheless, Webdbush stated after the supply knowledge and the robotaxi occasion that they retained their “outperform” score and $300 value goal—and “could be patrons on any weak point” in Tesla inventory.
Enterprise Highlight: Robotaxi Occasion Aftermath
Tesla inventory has moved lower than 1% in every buying and selling session this week after falling 8% final Friday, the day after the EV maker’s robotaxi occasion. Tesla showcased the prototype “Cybercab,” together with a bigger capability “Robovan” and projections from CEO Elon Musk on when Tesla’s self-driving software program might be accepted, a step towards the autonomous taxis changing into authorized to function on the street.
Following the occasion, analysts stated the shortage of particulars about whether or not Tesla would plan to function its fleet of robotaxis or promote them to prospects, and the shortage of an anticipated lower-cost Tesla mannequin announcement, have been among the many elements driving the inventory decrease.
JPMorgan analysts, with an “underweight” score and $130 value goal, stated the subsequent day that the occasion was “notably missing intimately,” and stated it affirmed their perception that Tesla inventory’s restoration from the lows it confronted within the first half of the yr was pushed primarily by pleasure for the current robotaxi occasion fairly than EV gross sales or earnings.
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