In just a few hours, Tesla will present its financial results and accept investors' questions about its future plans. Based on the information we have at the moment, expectations are high regarding new products, strategy, and financial results.
Tesla reported a record second quarter as far as deliveries are concerned. Still, analysts want to see that Tesla hasn't sacrificed its financial results for market share. Especially the price cuts are expected to affect Tesla's gross margins. Whether it managed to cut costs and improve the margins is still up for debate. Still, judging by the stock rally in the past 48 hours, I'd say investors are optimistic about Tesla's prospects.
The Tesla-compiled consensus, which gathers data from 26 financial-analysis institutions, expects Tesla to report total revenues of $24.7 billion in the second quarter. If this happens, it would mark another 46% jump in revenue compared to Q2 2022. The analysts also expect Tesla to report an 18.2% gross margin and non-GAAP EPS of $0.80. Thus, the gross margin will likely sink compared to 19.3% in Q1 2023 and 25% in Q2 2022.
While financial data will be front and center during the earnings call, we're not accountants. Like most regular folks, we want information about Tesla's upcoming models, new gigafactories, full self-driving, robotaxis, and such. As we've seen already, retail investors are very much interested in learning about technical details as we are.
That's why the most-voted questions for the Q2 2023 earnings call are about products, not numbers. They covered topics from the Full Self-Driving progress and licensing to Cybertruck and 4680 battery cells. But there'll surely be other talking points that Tesla is expected to address even before the Q&A session.
Although Tesla has made the most important announcements during investor-dedicated events, we still hope it will make some important announcements on Wednesday. The refreshed Model 3 is long overdue, considering that test production is already underway at Giga Shanghai and in Fremont. Tesla hasn't announced a dedicated event for the revamped Model 3, so it's entirely possible that it will share the juicy bits during the second-quarter earnings call.
Considering that a Cybertruck delivery event is planned for September, we don't expect to learn new things about the electric pickup. Nevertheless, Tesla might at least announce a date for the Cybertruck Delivery Day, which should happen at Giga Texas. Still, I wouldn't exclude another Cybertruck announcement, possibly a start date for the volume production. Depending on how the financial data look, Tela might want to accompany them with more announcements to keep the investors excited.
Considering Elon Musk's obsession with artificial intelligence as of late, I expect to hear a lot about this during the event, mostly related to Full Self Driving and Tesla Bot. Robotaxis and Gen-3 platforms are a little too far ahead, so unless significant progress has been achieved in the past months, Tesla would probably stay clear from bringing this up. This is also true about the 4680 battery cells, which are not progressing very well. Still, considering that some of the most-voted questions are related to battery development, we expect to hear some answers.
You can listen to the Q2 2023 earnings call livestream at the link below:
After his childhood dream of becoming a "tractor operator" didn't pan out, Cristian turned to journalism, first in print and later moving to online media. His top interests are electric vehicles and new energy solutions. Full profile
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