Tesla is set to report its first quarter earnings on Wednesday after market close in New York. It's the first earnings release that will show how the company fared through the early stages of the coronavirus pandemic, both in China and the US.
Here are the key numbers:
Like many other companies, auto and otherwise, Tesla has been hit hard by the coronavirus pandemic. In January, its new Shanghai Gigafactory was closed in a mandatory shutdown as the Chinese government raced to curb the spread of coronavirus. The factory reopened February 10.
Then, in March, Tesla had to close its Fremont, California, factory after it was deemed "non-essential" business amid US lockdowns to control the spread of COVID-19. The company has also announced furloughs and salary cuts for non-essential workers, and said that it would curb production of new cars amid the coronavirus pandemic.
Still, there have been some bright spots for Tesla. The first-quarter earnings also follow better-than expected delivery numbers from Tesla in early April. The company delivered 12,200 Model S and X's in the period ended March 31, and 76,200 Model 3 and Y's. Total production was 102,672, topping Wall Street estimates of roughly 80,000.
Tesla stock has also continued to outperform, despite extreme market volatility stemming from the coronavirus pandemic and falling price of oil. Shares of the automaker are up roughly 91% year-to-date through Monday's close, outpacing the S&P 500 index, which is down about 11%.
Here's what four analysts are saying about Tesla ahead of its first quarter earnings.
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