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Leading electric vehicle company Tesla Inc (NASDAQ:TSLA) is gearing up to report its first-quarter financial results after the market closes on Tuesday, April 23. The company has become a major player in the global automotive industry and is closely watched by investors and analysts alike. Here’s what to watch for as Tesla prepares to unveil its performance:
What to Expect in Tesla’s First-Quarter Earnings Report
Tesla is expected to report first-quarter revenue of $22.34 billion, according to data from Benzinga Pro. This estimate indicates a decline from last year’s first-quarter revenue of $23.33 billion. The company has beaten revenue estimates from analysts in three of the last five quarters, highlighting the company’s ability to perform against expectations.
As for earnings per share, analysts expect Tesla to report 51 cents, a decrease from the 85 cents reported in the first quarter of the previous year. Over the past five quarters, Tesla has beaten analysts’ earnings per share twice, missed twice, and recorded an even result once. The anticipation surrounding these figures reflects the significance of Tesla’s performance and its impact on investor sentiment.
Tesla’s Rollercoaster Q1 and Investor Sentiment
Tesla’s first quarter has been nothing short of a rollercoaster ride. The company’s Q4 results disappointed, and it issued weak and non-specific 2024 delivery guidance, leading to a slide in investor sentiment. Additionally, Tesla missed on Q1 deliveries and did not refute reports of the demise of a sub-$30K volume EV. As a result, Tesla’s stock has experienced a significant decline, dropping 43% year-to-date and 19% during its current seven-day losing streak.
Analyst Expectations for Q1 Performance
For the first quarter, Tesla is expected to report adjusted earnings per share of $0.52 on top-line revenue of $22.31 billion, according to Bloomberg consensus estimates. This potential decline in revenue would mark Tesla’s first in four years, reflecting the company’s unique position within the sector and the challenges it’s currently facing.
Conclusion
Tesla’s impending first-quarter earnings report holds immense significance for the company, its investors, and the electric vehicle industry as a whole. As it prepares to unveil its financial performance, all eyes are on Tesla to see how it navigates the energy transition and overcomes the challenges that have recently impacted its stock performance. Analysts and shareholders eagerly await the numbers, seeking insights into Tesla’s resilience and future prospects as it continues to shape the future of the automotive industry.
