Tesla (TSLA) Earnings Report for the First Quarter of 2023

Employees of the Tesla Gigafactory Berlin Brandenburg work on the final inspection of the off-the-shelf Model Y electric vehicles. The Tesla Factory is open and operational on March 22, 2022.

Patrick Bloel | Image Alliance | Getty Images

Tesla is set to report first-quarter 2023 earnings after the close of trading on Wednesday.

Here’s what analysts expect:

  • Earnings per share: $0.85, according to the average analyst estimate compiled by Refintiv
  • he won: $23.21 billion, according to Refinitiv estimates

Tesla’s first-quarter earnings call will be broadcast live via Twitter Spaces, a first for the electric car maker. CEO Elon Musk sold billions of dollars worth of his Tesla holdings in 2022 to fund a $44 billion buyout of the social media company, where he now serves as CEO.

Analysts are closely watching gross margins for Tesla cars after the company cut prices for its cars at the end of last year and into the first quarter of 2023, including additional discounts on Tuesday night. At the same time, Tesla is drawing up ambitious plans for expansion and increasing capital expenditures.

Revenue in the quarter is likely to increase 24% from $18.76 billion a year earlier, Refinitiv estimates.

Tesla currently sells four EV models, which are produced at two vehicle assembly plants in the US, one in Shanghai and one outside Berlin.

shareholders who Submitted questions Before the earnings call for consideration from management, she was seeking updates on the company’s trapezoidal, sci-fi-inspired Cybertruck, the company’s energy division, and the timing of a new Tesla model car.

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In early April, Tesla reported 422,875 vehicles delivered in the first quarter, the closest rough estimate of sales the company has revealed. Production was slightly above deliveries in the first three months of 2023 at 440,808 vehicles.

A month ago, Musk announced plans to build a Tesla factory in Monterey, Mexico, a day’s drive from a relatively new factory in Austin, Texas. More recently, Tesla said it plans to build a factory to manufacture megapacks, or large energy storage systems based on lithium-ion batteries, in Shanghai.

according to financial deposit In late January, Tesla expected to spend between $7 billion and $9 billion in 2024 and 2025, increasing capital expenditures by about $1 billion in the next two years.

Tesla shares have rebounded this year from a dismal 2022, when they lost about two-thirds of their value along with a decline in tech companies. The stock is up 48% in 2023.

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