This seems to be a tall order given high inflation, high interest rates and stiff competition.Īs we move toward the end of 2023, the delivery guidance for 2024 will be in focus. Tesla has delivered slightly more than 1.3 million vehicles so far this year, meaning Tesla has to deliver more than 450,000 vehicles to meet its guidance. Tesla expects to deliver 1.8 million vehicles in 2023. The leading electric carmaker delivered 435,059 (419,074 Model 3 and Y and 15,985 Model S and X) cars worldwide in the third quarter, up 26.5% from the year-ago quarter and down 6.7% from the prior quarter. Tesla already revealed its Q3 vehicle delivery and production numbers, which generate the majority of the company’s revenues. Notably, at the end of Q1 of 2022 the company had an operating margin of as high as 19.2%. But, if Tesla manages a decline less than expected, an optimism can be seen around the stock, post earnings release. Our estimate for operating margin for Q3 is 7.9%, which shows another decline. However, the price cuts have led to margin weakness, and Tesla’s operating margins dropped to 9.6% in Q2 of 2023. Tesla, in fact, resorted to several price cuts in the past few months. Earlier this year, Tesla made its intentions quite clear - it would prefer delivery growth to higher margins. The Zacks Consensus Estimate for the third quarter indicates substantial year-over-year earnings decline of 30.5% and revenue growth of 13.6%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. According to our methodology, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 increases the chances of an earnings beat. Tesla has an Earnings ESP of -2.74% and a Zacks Rank #3 (Hold). Meanwhile, the Most Accurate Estimate of Tesla is 71 cents. The current consensus estimate for earnings is 73 cents, down from 78 cents one month ago, 79 cents two months ago, and 86 cents three months ago. Tesla has observed a decline in earnings estimates for the September quarter over the past three months. But Tesla’s stock slumped about 4.3% in the past one month. It’s been a successful year for TSLA investors, with the stock showing an amazing performance by more than doubling in value. Electric vehicle maker Tesla ( TSLA Quick Quote TSLA - Free Report) will release its Q3 earnings on Oct 18 after the close of the markets.
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