Tesla Q1 earnings What to expect
Tuesday, April 23, is Tesla's Q1 earnings report date. Elon Musk's automaker had a difficult start to 2024, laying off 10% of its workforce. Following the release of the Austin-based company's dismal Q4 earnings, the TSLA shares experienced a downturn. In contrast to expectations of $25.87 billion, the company's top-line revenue of $25.17 billion was reported on the prior results call, marking a 3% rise over the previous year. In contrast to the $0.73 predicted at the time, Musk's electric vehicle company announced an adjusted EPS of $0.71.
Tuesday is Tesla's first-quarter earnings release.
Tuesday afternoon's market closure will mark the release of the Q1 earnings report, which will give shareholders and investors much-needed perspective. The results call with analysts will then be led by Tesla's head of investor relations, Martin Viecha, CFO Vaibhav Taneja, and Musk. Additionally, the business is expected to disclose some details regarding its finances, which have probably been weaker lately.
TSLA's share price of $146.54 on Friday marked a new 52-week low. The company was deemed as one of the worst performers in the S&P 500 after the stocks fell more than 40% in 2024. More recently, Tesla shares fell 3.4% more to $142.05 per share, just one day before the Q1 earnings call. Investors will be keeping an eye on a number of indicators as they await the company's most recent earnings call, including a possible new strategy, the prospect of the company expanding into South Asia and Mexico, additional details about Robotaxi, the potential announcement of the Model 2, and Musk's position at Tesla.
How will Tuesday's earnings call go?
According to Yahoo! Finance, Tesla is predicted to post adjusted earnings per share of $0.52 on top-line revenue of $22.31 billion, which would be the company's first revenue decline in four years. In the meantime, the profitability of the business is "expected to show $1.49 billion in operating profit, a 40% slide from a year ago." In terms of non-GAAP metrics, The Street has projected adjusted net income of $1.79 billion and EBITDA of $3.32 billion.
What do experts say?
According to Barclays analyst Dan Levy, Tesla's Q1 earnings call will fall short of Wall Street's expectations due to its underwhelming gross margins. While investors will enter the call with significant questions on Tesla's strategy, we believe many of these questions may remain unanswered. Levy wrote, "Tesla's deeply challenged near-term fundamentals are taking the backseat to a much larger issue, as Tesla is facing an investment thesis pivot," as reported by Quartz.
Analysts at JP Morgan speculate that Tesla is experiencing a "demand issue," connecting it to the company's recent layoffs. The publication reported that Ryan Brinkman stated, "There should now be no doubt that the decline in deliveries has been a function of lower demand and not supply. The sweeping layoffs announced yesterday, amounting to a reduction in crewed production capacity,"
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