- Tesla (TSLA -0.3%) reports earnings tomorrow after the close in another report in which production updates will overshadow the quarterly numbers.
- Consensus Q4 estimates on Tesla: Revenue of $3.28B, EPS of -$3.19, non-GAAP automotive gross margin of 14.8%, full-year capital expenditures of 3.15B.
- KeyBanc is cautious right in front of the report, warning that Model 3 deliveries are ramping slowly. In a similar vibe, Goldman Sachs (NYSE:GS) says Model 3 production is progressing at a linear rate, instead of the exponential growth promised by management.
- The bullish camp is also having its say, Baird (Outperform rating) thinks the earnings report will be a "de-risking" event, while Consumer Edge (Overweight rating) reminds that recall risk is a bigger wildcard for Tesla in the long term than missed guidance.
- As a reminder, Tesla said last earnings go-around that it expects to produce 2.5K Model 3s per week by the end of Q1 and 5K per week in Q2.
- The conference call could dig into the company's new compensation deal with CEO Elon Musk and drill down on when or if a capital raise will be fired off.
- In a twist of ratings harmony, the current analyst scorecard on Tesla is pretty balanced - with 10 Buy equivalents, 10 Hold equivalents and 10 Sell equivalents on record.
- Sources: Bloomberg, CNBC, Investors Business Daily.
- Now read: How Green Is Tesla?
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