Tesla CEO Elon Musk speaks with CNBC on May 16, 2023.
David A. Grogan | CNBC
Tesla is expected to report its third-quarter results Wednesday after the bell.
Here’s what Wall Street expects, based on a survey of analysts by LSEG, formerly known as Refinitiv:
- Earnings: 73 cents per share expected
- Income: $24.1 billion expected
During the same period last year, Tesla reported adjusted EPS of $1.05 on revenue of $21.45 billion.
The third-quarter 2023 earnings call will be Tesla’s first since its previous CFO, Zachary Kirkhorn, announced his departure. The accounting director, Vaibhav Taneja, now combines both functions within Elon Musk’s electric car company.
Earlier this month, Tesla reported a 7% drop in vehicle deliveries for the third quarter compared to the previous three-month period. Tesla then reiterated that it was still targeting 1.8 million vehicle deliveries for the whole of 2023.
Tesla uses an online platform called Say Technologies to select shareholder questions to answer before earnings calls.
Retail investors have asked questions about when Tesla plans to begin deliveries of its Cybertruck, a sci-fi-inspired truck, and when it plans to offer an updated version of its Model sedans 3, dubbed Highland Model 3, available to customers in the United States also wanted updates on the company’s international factories, its 4680 battery cells and its TeslaBot humanoid robot project.
During the third quarter, Tesla began selling an updated version of its Model 3 sedan, the Highland, which included controversial changes, such as a “rodless” turn signal. Drivers of the Model 3 Highland, now sold in China and the EUcan touch a button on the steering wheel to indicate they are about to change lanes or turn, instead of using a joystick to the left of the steering wheel.
During the period ending September 2023, Tesla also reduced the prices of some of its electric vehicle models in the United States and beyond, as well as the price of its premium driver assistance software , marketed as Full Self-Driving (or FSD) option, or FSD. Beta. Tesla does not make driverless cars and tells its customers to stay alert and ready to steer or brake at any time.
However, on October 14, Tesla CEO Elon Musk, who also owns and operates the social media platform X, formerly called Twitter, job: “The car drove me around Austin all day without any intervention needed, despite the crowds at the ACL festival! In the not too distant future, people will wonder why there has always been skepticism about autonomous driving.”
Investors who posted questions on the Say Technologies site wanted an update on the latest improvements to Tesla’s FSD software. One asked: “Why did the price drop on FSD if it is improving and the robotaxi is expected so soon?” »