Tesla will report first-quarter earnings on Tuesday after the closing bell.
The electric-vehicle maker has been under pressure to start 2024 amid reports it will scrap plans to produce a low-cost Model 2, and instead focus on autonomous driving and robotaxis. Wall Street didn’t like that idea, pushing Tesla’s already-struggling stock lower.
The company has also been dealing with declining demand for its EVs, which has prompted a series of price cuts, the latest of which came on Monday.
Tesla’s stock was down 43% year-to-date through Monday’s close, badly trailing the the S&P 500‘s 5% gain.
1st quarter
Adjusted EPS estimate: $0.52
EPS estimate: $0.41
Automotive gross margin estimate: 17.6%
Revenue estimate: $22.3 billion
Free cash flow estimate: $651.7 million
Gross margin estimate: 16.5%
Capital expenditure estimate: $2.4 billion
Cash and cash equivalents estimate: $23.24 billion
2nd quarter
Automotive gross margin estimate: 17.9%
Full-year 2024
Deliveries estimate: 1.94 million
Automotive gross margin estimate: 17.9%
Capital expenditure estimate: $9.91 billion
Source: Bloomberg data
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Tesla Earnings: Live Updates on Sales, Profit Results, Analyst Call – Business Insider
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