Tesla is set to report its first-quarter earnings on Tuesday, April 23, following a tumultuous start to 2024. The electric vehicle manufacturer’s shares have taken a hit, dropping to a 52-week low on Friday and making it one of the worst performers in the S&P 500.
The earnings report will be released after the markets close on Tuesday afternoon, providing much-needed insight for investors and shareholders. Following the release, Elon Musk, CFO Vaibhav Taneja, and Tesla’s head of investor relations, Martin Viecha, will lead the earnings call with analysts.
During the call, the company is expected to provide updates on its financial performance, which has likely weakened recently. Analysts are predicting a potential revenue drop, with adjusted earnings per share of $0.52 and top-line revenue of $22.31 billion. This would mark the company’s first revenue decline in four years.
One of the key points to watch during the earnings call is the potential announcement of a new strategy. Tesla has faced challenges in recent months, including layoffs and production issues. Investors will be eager to hear how the company plans to address these challenges and drive future growth.
Another point of interest is the possibility of Tesla’s expansion into South Asia and Mexico. The company has indicated interest in these markets, and an update on its expansion plans could be provided during the call.
Additionally, investors will be listening for any updates on Robotaxi, Tesla’s autonomous ride-hailing service. The company has made significant progress in developing this technology, and an announcement regarding its launch or progress could be made during the earnings call.
Finally, Elon Musk’s role at Tesla will be closely scrutinized. Musk has been a driving force behind the company’s success, but his recent focus on Twitter has raised concerns among investors. The earnings call could provide insights into how Musk plans to balance his responsibilities at both companies.
Analysts are cautiously optimistic about Tesla’s earnings report, but they acknowledge the challenges the company has faced. Barclays analyst Dan Levy predicts that Tesla will miss Wall Street’s estimates due to disappointing gross margins. Meanwhile, JP Morgan analysts suggest that Tesla has a “demand issue,” citing the recent layoffs.
Despite the challenges, Tesla remains a leader in the electric vehicle industry. The company’s upcoming earnings report will be closely watched as investors seek clarity on its financial performance, future plans, and the role of its enigmatic CEO.
