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STOCK: Tesla [TSLA] To Unveil Earnings on Wednesday

Admin by Admin
October 17, 2022
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Tesla (TSLA) will get earnings season off to a hectic start this Wednesday. The stock is under pressure along with many others from the ongoing bear market in stocks and bonds.

Tesla too is suffering from the lack of interest in former high-growth but high-valuation names as investors fix instead on more defensive value criteria. By these measures, Tesla should struggle as it still trades on a trailing P/E of over 60.

Related- NIO Hits Reverse as Stocks Cool Off

Tesla will update the market when it releases earnings after the close on Wednesday. This is one of the most anticipated releases of the whole season along with Apple (AAPL). We already have delivery data, which was somewhat underwhelming, so earnings will show how this disappointment has impacted the bottom line.

Margins will be the obvious metric to focus on as will future guidance. Tesla is expected to post earnings per share (EPS) of $1.03 and revenues of $22.2 billion. Q3 delivery data has already pushed some of the bad news into the price.

Tesla announced Q3 deliveries at 344K when analysts had been expecting 358K. Delivery data came out on the weekend of October 1, and on Monday, October 3, Tesla lost over 8%. Since the delivery data was released Tesla stock has fallen over 20%.

Source- FxStreet

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