Tesla Inc. signage outside of a dealership at Easton Town Center shopping centre in Columbus, Ohio U.S.A on Friday, December 10, 2021
Luke Sharrett | Bloomberg | Getty Images
Tesla will report its second quarter earnings on Wednesday after the bell.
According to Refinitiv’s consensus estimates of analysts, here’s what investors should expect.
- Earnings per share: Expected price: $1.81
- Revenue: $17.1 billion to be achieved
Early this month, Tesla reported vehicle deliveries of 254,695 electric cars for the period ending June 30, 2022, showing 27% growth from the year-ago quarter, but an 18% decrease sequentially. Tesla’s closest estimate of sales is the delivery. 93% of those deliveries were for Model 3 and Model Y models.
Last year during the second quarter, Tesla said deliveries amounted to 201,250 vehicles, its first time topping 200,000 in a three-month period. In the first quarter of this year, Tesla reported deliveries of 310,048 vehicles.
Russia’s brutal invasion in Ukraine and Covid outbreaks at China led to ongoing shortages of parts and semiconductors. Tesla had to temporarily stop or limit its production in Shanghai due to Covid restrictions. This was during the second quarter 2022.
CEO Elon Musk also lamented the high costs of starting up production at new factories in Austin, Texas and Grünheide in Brandenburg, Germany. During an interview with Tesla Owners Silicon Valley, a company-recognized fan club, Musk said the two new factories “are gigantic money furnaces.”
The CEO announced massive headcount cuts in June.
Depending on how they were traded, Tesla’s cryptocurrency holdings could also have experienced a significant decline in value. Barclay’s analyst Brian Johnson said on Monday that he expects Tesla to record an impairment of up to roughly $460 million due to bitcoin declines.
The bright side is that Tesla recently celebrated a milestone when an employee posted on LinkedIn this week that the company had exceeded production. 2 million vehicles Fremont, California – Factory.
According to a White House memo Tesla will also begin production of new Supercharger Equipment starting June 28. This will allow non-Tesla drivers to use Tesla Superchargers in North America.