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Live updates: Tesla reports Q3 earnings after the bell

Live updates: Tesla reports Q3 earnings after the bell
Elon Musk has dubbed the Model 3 production ramp up "production hell."Mason Trinca for The Washington Post via Getty Images
  • Tesla reports third-quarter earnings this afternoon after the closing bell.
  • Investors will be on high alert for updates on the company's demand outlook, after third-quarter deliveries disappointed.

Tesla reports third-quarter earnings on Wednesday, Oct. 18, after the closing bell.

Investors are focused on the company's profit margins and demand outlook after a series of price cuts and weaker-than-expected third-quarter deliveries. They'll also be on the lookout for updates on the first deliveries of the long-awaited Cybertruck.

The stock is down 1.2%, to $251.92, as of 9:50 a.m. ET. Shares have climbed more than 100% year-to-date, far outpacing the benchmark S&P 500 and the tech-heavy Nasdaq 100. It currently has 23 buy ratings, 20 holds, and 9 sells, and a consensus price target of $261.86, according to analyst data compiled by Bloomberg.

Tesla's consensus third-quarter adjusted EPS forecast is $0.74.

3rd quarter

  • Adjusted EPS estimate: $0.74 (Bloomberg Consensus)
  • EPS estimate: $0.64
  • Automotive gross margin estimate: 19%
  • Automotive gross margin ex-credits estimate: 17.7%
  • Revenue estimate: $24.06 billion
  • Free cash flow estimate: $2.59 billion
  • Gross margin estimate: 18%
  • Capital expenditure estimate: $2.03 billion
  • Cash and cash equivalents estimate: $21.73 billion

Full-year 2023

  • Production estimate: 1.82 million
  • Deliveries estimate: 1.82 million
  • Automotive gross margin estimate: 19.9%
  • Capital expenditure estimate: $8.01 billion

Source: Bloomberg


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