Tesla The company is scheduled to report second-quarter earnings after the bell on Tuesday.
According to a survey of analysts by London Stock Exchange Group (LSEG), Wall Street’s expectations are as follows:
- Earnings per share: Expected 62 cents
- income: Estimated US$24.77 billion
After experiencing the ups and downs in the first half of the year, Tesla cuts salary by more than 10% With fewer employees and lower vehicle deliveries in the first and second quarters, the electric car maker will try to refocus investors on what’s happening and what’s ahead.
Although Tesla reported vehicle deliveries of 443,956 The second quarter was down 4.8% from a year earlier, and those numbers were better than analysts’ expectations.
The company also report The company’s energy generation and storage unit, which sells and installs backup batteries and solar photovoltaics, deployed 9.4 GWh of energy products in the period ended June 30.
Tesla remains by far the top seller of electric vehicles in the U.S., but it is losing market share to a growing number of rivals, in part because of its aging lineup of sedans and SUVs and the continued decline of CEO Elon The influence of Elon Musk. burning The political commentary appears to be having an impact on some left-leaning buyers.
Musk has It is said His latest quarterly financial report showed that he planned to pledge about $45 million a month to a newly formed super PAC supporting former President Trump, but had not contributed to the organization as of the end of June. Musk made a public statement On July 13, Trump suffered an assassination attempt at a political rally.
According to statistics, only 13% of Republican and right-leaning voters are interested in buying an all-electric vehicle this year pew research center45% of Democratic and left-leaning voters are very or somewhat interested.
According to data tracked by Cox Automotive, in the first half of 2024, rival automakers’ pure electric vehicle sales in the United States increased by 33% compared with the same period last year, while Tesla’s sales fell by 9.6% during the same period. InsideEVs reports.
But Musk and his fellow Tesla bulls, along with his broader fanbase, have ambitions for the electric car maker that go beyond just building and selling cars.
The company’s other bets, as well as its financial health, will be the focus of Tuesday afternoon’s conference call.
Musk (who also serves as CEO of SpaceX and runs Neuralink, The Boring Company, X Corp. and his latest startup, xAI) has hope Starting around 2016, Tesla will convert its existing electric vehicles into self-driving vehicles through software updates. The company is still trying to figure this out and has promised investors it will “launch” a new purpose-built robotaxi later this year.
In 2021, Musk also began to promise that Tesla would develop and produce humanoid robots that can at least work in factories. on Monday, Musk said in a tweet He expects Tesla to use some of these robots in its factories next year, with more robots available to other companies by 2026.
More details about the Optimus humanoid robot and the upcoming CyberCab self-driving car are expected to be announced during a conference call on Tuesday.
Tesla shares closed up about 5% on Monday at $251.51 per share in anticipation of Tuesday’s conference call.
Tesla’s “deliveries” are not an audited financial metric, but are the closest thing to the company’s reported sales.
Wall Street is deeply divided on Tesla’s prospects, CNBC Pro report. According to LSEG, only 22 of the 50 analysts covering the company have buy or strong buy ratings.
