Tesla earnings live updates: Investors seek details on brand damage, lower-cost model
Tesla will report first-quarter earnings on Tuesday after the closing bell.
Wall Street is leaning bearish heading into the results as uncertainty swirls around CEO Elon Musk’s involvement with the US government. Investors will be listening for updates on margins, robotaxis, the Cybertruck, and a more affordable Tesla model.
Tesla’s earnings-release time is roughly 4:30 p.m. ET, and its conference call with analysts will start around 5:30 p.m.
Tesla’s stock was down 44% year-to-date through Monday’s close, lagging the S&P 500’s 11% loss.
JPMorgan warns of “unprecedented brand damage”
The Tesla factory in Fremont, California.
JPMorgan reduced its earnings estimates for Tesla following its weak first-quarter delivery results.
Following the results, the bank said it “may have underestimated the degree of consumer reaction” to Tesla and Elon Musk.
“The trend in Tesla sales is worse than we and the market had appreciated, prompting us to lower our already below consensus estimates accordingly and to expect consensus to decline further, toward our new lower estimates,” JPMorgan said.
The bank expects Tesla to sell about 1.7 million vehicles in 2025 and earn $2.30 per share in the full year.
JPMorgan rates Tesla at “Underweight” with a $120 price target.
Tesla earnings expectations: First-quarter adjusted EPS estimate is $0.44
First quarter
- Adjusted EPS estimate: $0.44
- EPS estimate: $0.33
- Revenue estimate: $21.43 billion
- Gross margin estimate: 16.1%
- Operating income estimate: $1.16 billion
- Free cash flow estimate: $1.08 billion
- Capital expenditure estimate: $2.49 billion
Full year
- Production estimate: 2.01 million
- Deliveries estimate: 1.81 million
- Capital expenditure estimate: $11.32 billion
Source: Bloomberg data
