As Tesla (TSLA) gears up to report its second-quarter results after the bell on Tuesday, investors are eagerly anticipating updates on the EV-maker’s future vehicle roadmap, robotaxi rollout, and other initiatives such as AI and Tesla Energy.
Despite experiencing a relatively flat year for Tesla stock, there has been a recent surge in enthusiasm as the company’s robotaxi plans, approval of Musk’s controversial pay package, and growth in Tesla’s energy business have propelled the stock up nearly 38% in the past month.
However, a recent setback in Tesla’s robotaxi reveal has caused some concern among investors. Elon Musk hinted at a delay in the robotaxi event, citing the need for additional time to implement important design changes and showcase new features.
With the robotaxi date in uncertainty, eyes are now turned towards the upcoming quarter results. Analysts are projecting Tesla to report Q2 revenue of $24.59 billion, higher than the previous quarter but slightly lower than a year ago. Adjusted EPS of $0.60 and operating profit of $1.88 billion are also expected.
The spotlight is on Tesla’s plan to accelerate the launch of more affordable vehicles, a move that could potentially reignite interest in the company’s growth trajectory. This shift in strategy comes after Tesla reported an increase in global vehicle deliveries in the second quarter, surpassing estimates but still below last year’s figures.
A surprising highlight from Tesla’s Q2 report was its record deployment of 9.4 GWh of battery energy storage, signaling a growing focus on the energy side of the business. Analysts believe that Tesla Energy could be a significant contributor to the company’s valuation in the future, especially as investments in the US electric grid gain momentum.
As investors wait for Tesla’s conference call post-earnings, attention will be on discussions around the energy business and future product plans. With a $310 price target from Morgan Stanley, there is optimism surrounding Tesla’s potential for growth in the coming months.
Stay tuned for more updates on Tesla’s second-quarter results and the latest financial news from Yahoo Finance as we continue to track the company’s progress in the evolving EV and energy markets.