Tesla results: what to expect
Tesla will release its results this week as the big tech earnings season gets underway.
Electric vehicle (EV) maker Tesla releases its results for the first quarter of 2026 on Wednesday 22 April.
One of the ‘Mag 7’ stocks, Tesla (NASDAQ:TSLA) is at a transitional moment as a company. Its core, traditional carmaking business has struggled over the past year.
But Tesla’s focus isn’t necessarily on the car-selling business any more. The firm is owned by the world’s richest person Elon Musk, who has made it clear that physical artificial intelligence (AI) – specifically, self-driving cars and robotics – is the future for Tesla.
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As always, Tesla’s delivery numbers for the quarter were published weeks before the full results, so many of the headlines about the company’s financial performance will have already been factored into Tesla’s share price.
Deliveries were disappointing – as they have been for some time. Tesla delivered 358,023 vehicles, compared to estimates that had been as high as 370,000 prior to the release.
“While the delivery numbers were quite underwhelming, this was not a shock to us given the current EV backdrop across geographies while the company shifts gears to focus more on its AI strategy,” said Dan Ives, head of global technology research at financial services firm Wedbush Securities.
When does Tesla announce its results?
Tesla’s earnings will be released on Wednesday 22 April, after US markets close.
In theory, that means any time after 9pm in the UK.
The earnings call following the results’ release is scheduled for 5.30pm EST (10.30pm BST), so the results will be released between 9pm and 10.30pm in the UK.
What are analysts expecting from Tesla’s results?
Analysts polled by LSEG expect Tesla to post earnings per share (EPS) of $0.37 on revenue of $22.7 billion. If accurate, these estimates imply earnings growth of 37% and revenue growth of 17% over the past year.
Given that the production and delivery numbers are already known, the focus of attention will be less on the financials themselves and more on the expectations that are set for the future.
This will include forward-looking financial guidance, but the market is also likely to pay close attention to anything that Tesla’s leadership, particularly Musk, have to say about progress on its full-self driving technology and other AI-related projects.
“All eyes remain on the company’s AI rollout including the company’s switch in long-term mission [towards] developing a sustainable revenue stream from AI and robotics,” said Wedbush’s Ives.
Should you invest in Tesla before its results?
Ultimately, whether or not you invest in Tesla depends on your personal circumstances and investment goals.
Big tech companies have the potential to deliver strong returns for investors.
However, they can also come with stretched valuations, and Tesla is a prime example of this; as of 20 April, it traded at a price/earnings ratio of 356 – which is incredibly high. In order to justify this kind of valuation Tesla would have to increase its earnings rapidly over many, many years.
When stocks trade at multiples this high, it can lead to sharp selloffs in the short term if anything happens to dampen market expectations of this growth materialising.
