Tesla to post Q2 revenue growth, analysts expect
Tesla will announce its financial results for Q2 2023 on Wednesday. Analysts expect the company to post Q2 revenue growth and margin decline.
Tesla financial results for Q2
Tesla (etoro: TSLA) will post its financial results for the second quarter of 2023 after market close on Wednesday, July 19, 2023. At that time, Tesla will issue a brief advisory containing a link to the Q2 2023 update, which will be available on Tesla’s Investor Relations website. Tesla management will hold a live question and answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook.
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What: Date of Tesla Q2 2023 Financial Results and Q&A Webcast
When: Wednesday, July 19, 2023
Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q2 2023 Update: https://ir.tesla.com
Webcast: https://ir.tesla.com (live and replay)
Tesla will show revenue growth
Analysts expect Tesla to post quarterly revenue growth when it announces results on July 19. The company may report a 44.5% increase in revenue to $24.477 billion from $16.93 billion a year ago. The calculation was based on an average estimate of 20 analysts per Refinitiv data. Refinitiv’s average estimate for Tesla is 82 cents a share. 18 analysts recommend “strong buy” or “buy,” 19 “hold” and 7 “sell” or “strong sell.”
The average analyst earnings estimate has fallen about 0.5% over the past three months. Tesla has an average 12-month Wall Street price target of $240, well below its last closing price of $290.38.
Deliveries in Q2
Tesla delivered 466,140 vehicles in the second quarter. Analysts expected delivery of about 446,000 vehicles and again underestimated the manufacturer. Of the 466,140 vehicles delivered, 446,915 were Model 3/Y and 19,225 were Model S/X. Tesla set its previous record in Q1 2023 with 422,875 vehicles delivered.
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