Elon Musk, CEO of Tesla, speaks with CNBC on Might 16, 2023.
David A. Grogan | CNBC
Tesla is set to report third-quarter outcomes after the bell on Wednesday.
Here is what Wall Avenue is anticipating, primarily based on a survey of analysts by LSEG, previously often known as Refinitiv:
- Income: $24.1 billion anticipated
- Earnings: 73 cents per share, adjusted, 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 shall be Tesla’s first since its earlier CFO, Zachary Kirkhorn, announced he was stepping aside. 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 vehicle 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 total yr in 2023.
Tesla makes use of an internet platform referred to as Say Technologies to select questions from shareholders to reply prematurely 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. Additionally they needed updates on the corporate’s worldwide factories, its 4680 battery cells and its TeslaBot humanoid robotic venture.
Throughout the third quarter, Tesla started promoting an up to date model of its Mannequin 3 sedan, the Highland, which included controversial adjustments, resembling 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 vary lanes or flip, as a substitute of utilizing a stalk to the left of the steering wheel.
Throughout the interval ending in September 2023, Tesla additionally reduce costs on a few of its EV fashions in and past the U.S., and decreased the value for its premium driver help software program, marketed because the Full Self-Driving (or FSD) choice, 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.
Nevertheless, 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, folks will surprise why there was ever skepticism about self-driving.”
Buyers who submitted questions on the Say Applied sciences web site 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 predicted so quickly?”
