Elon Musk, CEO of Tesla, speaks with CNBC on Might 16, 2023.
David A. Grogan | CNBC
Tesla is ready to report third-quarter outcomes after the bell on Wednesday.
This is what Wall Road is anticipating, based mostly on a survey of analysts by LSEG, previously referred to as Refinitiv:
- Earnings: 73 cents per share anticipated
- Income: $24.1 billion anticipated
Throughout the identical interval final yr, Tesla reported $1.05 in adjusted EPS on revenues of $21.45 billion.
The Q3 2023 earnings name will likely be Tesla’s first since its earlier CFO, Zachary Kirkhorn, introduced he was stepping apart. Chief accounting officer Vaibhav Taneja now holds each roles concurrently at Elon Musk’s electrical automobile firm.
Earlier this month, Tesla reported a 7% decline in automobile deliveries for the third quarter in comparison with the earlier three-month interval. Tesla reiterated on the time that it was nonetheless aiming for 1.8 million automobile deliveries for the complete yr in 2023.
Tesla makes use of a web-based platform referred to as Say Applied sciences to pick questions from shareholders to reply upfront of earnings calls.
Retail traders submitted questions on when Tesla expects to start deliveries of its Cybertruck, a science fiction-inspired truck, and when it plans to make an up to date model of its entry-level Mannequin 3 sedans, dubbed the Highland Mannequin 3, out there for purchasers within the U.S. In addition they needed updates on the corporate’s worldwide factories, its 4680 battery cells and its TeslaBot humanoid robotic challenge.
In the course of the third quarter, Tesla started promoting an up to date model of its Mannequin 3 sedan, the Highland, which included controversial modifications, equivalent to a “stalkless” flip sign. Drivers of the Mannequin 3 Highland, now bought in China and the EU, can contact a button on the steering wheel to point they’re about to alter lanes or flip, as a substitute of utilizing a stalk to the left of the steering wheel.
In the course of the interval ending in September 2023, Tesla additionally minimize costs on a few of its EV fashions in and past the U.S., and diminished the value for its premium driver help software program, marketed because the Full Self-Driving (or FSD) possibility, or FSD Beta. Tesla doesn’t make a driverless automobile, and tells its clients to stay at consideration and able to steer or brake always.
Nonetheless, on Oct. 14, Tesla CEO Elon Musk, who additionally owns and runs the social media platform X, beforehand referred to as Twitter, posted: “Automobile simply drove me round Austin all day with no interventions required, regardless of ACL pageant crowds! Within the pretty close to future, individuals will marvel why there was ever skepticism about self-driving.”
Traders who submitted questions on the Say Applied sciences website needed an replace on Tesla’s newest FSD software program enhancements. One requested, “Why was the value dropped on FSD whether it is getting higher and robotaxi is anticipated so quickly?”
