Despite Tesla's record deliveries in the second quarter, the series of price cuts have impacted margins and Goldman Sachs analyst Mark Delaney expects Tesla to continue slashing prices in 2024 to support higher volumes, resulting in lower vehicle sales than previously anticipated in Q3 and reduced EPS estimates for 2023 and 2024.
Tesla's third-quarter delivery figures are uncertain, causing the stock to slump, with analysts projecting various outcomes based on app downloads and vehicle registration data.
Tesla may fall short of third-quarter delivery estimates due to factory shutdowns and soft demand, but analysts believe that upgrades and refreshed models in the coming months could boost sales and competition with rivals like Ford and BYD.
Tesla is set to report its third-quarter delivery figures, with high anticipation from investors despite potential weak numbers.
Tesla is expected to report its third-quarter vehicle sales, as the electric vehicle leader continues to dominate the market.
Tesla continues to disappoint customers with persistent delays in the deliveries of its much-awaited Cybertruck, despite CEO Elon Musk stating that the company plans to have a "great delivery event" likely in the third quarter, with the third quarter now over and customers eagerly waiting for details on pricing and deliveries.
Tesla missed market estimates for third-quarter deliveries due to planned factory upgrades, causing a 2.4% drop in its shares, although the company's target to deliver 1.8 million vehicles this year remains unchanged.
Tesla's deliveries in the third quarter were lower than expected, with a 6% decline from the second quarter due to planned factory upgrades and temporary shutdowns, despite the company's target of around 1.8 million vehicles in 2023.
Rivian reported higher-than-expected Q3 production and delivery numbers, putting the company on track to surpass its annual estimates and produce 52,000 vehicles in 2023.
GM's Q3 delivery numbers show a significant increase in sales of its Cadillac Lyriq and Hummer EV, indicating progress in getting their Ultium vehicles off the ground, though overall EV sales still represent a small percentage of GM's total sales.
Despite falling short of delivery expectations in Q3, Tesla plans to include an estimated 20,000 units in their Q4 figures as part of their expansion strategy, with analysts predicting better days ahead for the company as they prepare for increased production and the launch of new models.
Investors are driving Tesla closer to rejoining the $1 trillion club with a market cap of $850 billion, but the company's Q3 delivery performance and price cuts highlight challenges ahead.
This week, investors will focus on Q3 2023 earnings reports, as well as important economic indicators such as September's retail sales and industrial production, to gauge the Federal Reserve's policy stance and shape expectations about the economy.
Tesla is expected to report a drop in earnings per share for the third quarter, but analysts are hopeful for a rebound in deliveries in Q4 with the new Model 3 and Cybertruck launch.
Tesla is expected to report lower earnings for its Q3 2023 due to margin contraction, while analysts have mixed opinions on whether the stock is a buy or sell, and options traders are pricing in a +/- 6.03% move on Tesla's earnings.
Tesla's upcoming third-quarter earnings report is highly anticipated by investors who are focused on the company's profit margins, demand outlook, and updates on the Cybertruck and EV charging network.
Investors are hoping that Tesla's Q3 earnings will help the company recover from underperforming the market in recent months, as factors such as price cuts, slower production of the Cybertruck, and the departure of the CFO have weighed on the stock.
Electric vehicle manufacturer Tesla is set to announce Q3 earnings today, with investors eager to see how price cuts have affected the company's earnings and if it will spark an uptrend for the stock that has been trading sideways recently.
Tesla reported earnings of $1.9 billion in net income on $23.4 billion in revenue in Q3 2023, showing a decrease in profits and continued slipping of margins due to price cuts. Tesla also missed its target date for a Cybertruck delivery event, but made investments in AI and increased compute capacity. The company's ongoing legal issues and the impact of the autoworkers strike may affect its performance in the EV market.
Analysts have lowered their price targets for Tesla stock after the company reported disappointing Q3 earnings, raising questions about its near-term strategy and growth potential in 2024. Despite this, Tesla's stock had surged earlier in the year as investors remained optimistic about the company's long-term growth.
Tesla's Q3 financial statement shows disappointing results, with missed revenue and EPS estimates, lower-than-expected auto gross margins, and concerns over falling margins and constant price cuts, although analysts remain bullish on the stock in the near-term.
Amazon is expected to report Q3 revenues of $142.34 billion, a 12% year-over-year increase, with Q4 sales estimated at $174.13 billion, according to Monness' Brian White, who maintains a Buy rating and a $170 price target on the stock.
