Tesla will post its financial results for the second quarter of 2023 after market close on Wednesday, July 19, 2023. At that time, Tesla will issue a brief advisory containing a link to the Q2 2023 update, which will be available on Tesla’s Investor Relations website. Tesla management will hold a live question-and-answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook.
Tesla stock price is up by almost 18% in the last 12 months but has galloped almost 136% YTD.
In the second quarter, Tesla produced nearly 480,000 vehicles and delivered over 466,000 vehicles. Tesla just announced the completion of the first Cybertruck at its Austin Giga Plant. On the post-earnings call, investors will be eager to learn about Elon Musk’s manufacturing plans and estimates for the futuristic-looking SUV.
The market may not pay much attention to the short-term effects of slowing revenue growth and rising revenue costs in the balance sheet of the EV powerhouse. Analysts will instead be more interested in determining whether the long-term Tesla story is still on track despite rising competition and decreasing margins.
As a result, a negative EPS surprise, as in Q1, can be easily countered by the message that, despite a hard 2023, a bright 2024 is on the horizon. In fact, Tesla’s earnings are forecast to fall 13% in fiscal 2023, but there is anticipation for a robust comeback, with a projected 33% increase in FY24, resulting in earnings of $4.70 per share. Furthermore, the company’s total sales are expected to grow significantly, with a predicted 23% increase this year and an additional 25% increase in FY24, reaching an estimated $125.81 billion.
Combined with modest 0.82 EPS expectations, Tesla bears need to be cautious ahead of tomorrow’s report.
When the business releases its Q2 financial results, Tesla’s net income and cash flow figures will be included with the rest of our financial performance. Deliveries of Tesla vehicles are merely one indicator of the company’s financial performance and shouldn’t be used to predict quarterly financial results, which depend on a number of variables, including the cost of sales, fluctuations in foreign currency rates, and the proportion of directly leased vehicles.