Can Rise In Vehicle Delivery Aid Tesla (TSLA) In Q2 Earnings?
Zacks Investment Research | Jul 19, 2019 07:11AM ET
Tesla, Inc. (NASDAQ:TSLA) is scheduled to report second-quarter 2019 earnings on Jul 24, after the market closes. In the last reported quarter, this electric carmaker delivered a negative earnings surprise.
In the trailing four quarters, the company missed estimates thrice and beat once.
In the past six months, shares of Tesla have underperformed the industry it belongs to. Over this period, shares of the company have dipped 16.1% against the industry’s growth of 1.5%.
Let’s see, how things are shaping up for this announcement.
Factors Influencing This Quarter
In second-quarter 2019, Tesla reported a record number of deliveries. Notably, in the quarter, the company posted record 95,200 Model 3 sedan deliveries. However, during the same time frame, it delivered total 17,650 Model S sedans and Model X crossovers, down 21% year over year. The record Model 3 sedan delivery is aiding the company to overcome waning Model S sales.
Tesla made incredible progress by efficiently organizing its global logistics. The company made improvements in cost efficiencies, working capital and delivery operations.
The Zacks Consensus Estimate for total automotive revenues for the soon-to-be-released quarter is pegged at $5.5 billion. The company registered total automotive revenues of $3.7 billion in first-quarter 2019.
Tesla, Inc. Price and EPS Surprise
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