Tesla CEO Elon Musk speaks to CNBC on May 16, 2023.
David A. Grogan | CNBC
Tesla is hired to report Third quarter results after the bell on Wednesday.
Here’s what Wall Street expects, based on a survey of analysts from LSEG, formerly known as Refinitiv:
- Revenue: Expected to be $24.1 billion
- Merits: 73 cents per share, adjusted, expected
During the same period last year, Tesla reported adjusted earnings per share of $1.05 on revenue of $21.45 billion.
The third quarter 2023 earnings conference call will be Tesla’s first since former CFO Zachary Kirkhorn announced his resignation. Chief Accounting Officer Vaibhav Taneja now holds both roles simultaneously at Elon Musk’s electric car company.
Earlier this month, Tesla reported a 7% decline in vehicle deliveries in the third quarter compared to the previous three-month period. At that time, Tesla confirmed that it would continue to aim for 1.8 million vehicle deliveries for the full year 2023.
Tesla uses an online platform called Say technologies to select questions from shareholders to be answered prior to the earnings announcement.
Retail investors raised questions about when Tesla expects to begin deliveries of its Cybertruck, a science fiction-inspired truck, and when the company plans to make an updated version of its entry-level Model 3 sedans, called the Highland Model 3, available to customers in the United States also wanted updates on the company’s international factories, its 4,680 battery cells and its TeslaBot humanoid robot project.
In the third quarter, Tesla began selling an updated version of its Model 3 sedan, the Highland, which included controversial changes such as a “stemless” turn signal. Model 3 Highland driver, now sold in China And the EUcan touch a button on the steering wheel to indicate that they are about to change lanes or turn, instead of using a lever to the left of the steering wheel.
During the period ending September 2023, Tesla also reduced prices for some of its EV models in the United States and beyond and reduced the price of its premium driver assistance software, marketed as the Full Self-Driving (or FSD) option, or FSD Beta. Tesla does not make a driverless car and requires its customers to be alert and ready to steer or brake at all times.
But on October 14, Tesla CEO Elon Musk, who also owns and operates the social media platform X, formerly Twitter, said Posted: “The car just drove me around Austin all day without requiring any intervention, despite the crowds at the ACL festival! In the fairly near future, people will be wondering why there was ever any skepticism about self-driving.”
Investors who asked questions on Say Technologies’ website wanted an update on Tesla’s latest FSD software improvements. One asked: “Why has the price of FSD been reduced when things are getting better and Robotaxi is expected so soon?”