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Earnings season is always an exciting time to be an investor, with companies finally pulling the curtain back and unveiling what’s transpired behind closed doors.
As usual, the big banks opened the season, with things shifting into a much higher gear this week.
We’ll hear from the highly-coveted Tesla (TSLA - Free Report) on Wednesday after the market's close. We’re all highly familiar with Tesla, the undisputed leader in EVs and one of the best-performing stocks of the last decade.
But how does the company stack up heading into its quarterly release? Let’s take a closer look.
Quarterly Expectations
Analysts have been slightly bearish for the quarter to be reported, with the $0.74 per share estimate being revised -1.4% lower since November of last year. The quarterly estimate suggests a pullback of roughly 38% from the year-ago period.
Image Source: Zacks Investment Research
In addition, our consensus revenue estimate presently stands at $25.9 billion, nearly 7% higher than year-ago sales of $24.3 billion. The company’s revenue growth has been rapid over the years but has recently cooled, as we can see illustrated in the chart below.
Image Source: Zacks Investment Research
Of course, the key metric for Tesla is the company’s EV production/delivery numbers. The company unveiled its production and delivery numbers recently; Tesla delivered over 484,000 EVs and produced nearly 495,000 throughout the period, representing a quarterly record.
On an annual basis, Tesla produced over 1.85 million EVs throughout 2023 and delivered roughly 1.81 million, above the target of 1.8 million set previously.
Quarterly Performance & Valuation
The company fell short of the Zacks Consensus EPS Estimate by 8% in its latest release, snapping a long streak of positive surprises on the bottom line. Shares have moved lower following back-to-back releases, as we can see below by the arrows.
Image Source: Zacks Investment Research
Tesla shares are somewhat cheap on a relative basis, with the current 5.7X forward price-to-sales ratio nicely beneath the 8.2X five-year median and steep highs of 23.9X in 2021. The stock presently carries a Style Score of ‘C’ for Value.
Image Source: Zacks Investment Research
Bottom Line
With earnings season ramping up, investors will have plenty of quarterly prints to sort through in the coming days.
And, as expected, many eyes will be on Tesla (TSLA - Free Report) when it reveals its quarterly results on Wednesday after the market’s close.
Analysts have shown some bearishness for the release, with the Zacks Consensus EPS Estimate moving slightly over the last several months. In addition, the company announced its production/delivery numbers, which represented another quarterly record and results above Tesla’s annual target.
Heading into the release, Tesla is a Zacks Rank #2 (Buy) with an Earnings ESP of -1.0%.
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Is Tesla a Buy Heading Into Earnings?
Earnings season is always an exciting time to be an investor, with companies finally pulling the curtain back and unveiling what’s transpired behind closed doors.
As usual, the big banks opened the season, with things shifting into a much higher gear this week.
We’ll hear from the highly-coveted Tesla (TSLA - Free Report) on Wednesday after the market's close. We’re all highly familiar with Tesla, the undisputed leader in EVs and one of the best-performing stocks of the last decade.
But how does the company stack up heading into its quarterly release? Let’s take a closer look.
Quarterly Expectations
Analysts have been slightly bearish for the quarter to be reported, with the $0.74 per share estimate being revised -1.4% lower since November of last year. The quarterly estimate suggests a pullback of roughly 38% from the year-ago period.
Image Source: Zacks Investment Research
In addition, our consensus revenue estimate presently stands at $25.9 billion, nearly 7% higher than year-ago sales of $24.3 billion. The company’s revenue growth has been rapid over the years but has recently cooled, as we can see illustrated in the chart below.
Image Source: Zacks Investment Research
Of course, the key metric for Tesla is the company’s EV production/delivery numbers. The company unveiled its production and delivery numbers recently; Tesla delivered over 484,000 EVs and produced nearly 495,000 throughout the period, representing a quarterly record.
On an annual basis, Tesla produced over 1.85 million EVs throughout 2023 and delivered roughly 1.81 million, above the target of 1.8 million set previously.
Quarterly Performance & Valuation
The company fell short of the Zacks Consensus EPS Estimate by 8% in its latest release, snapping a long streak of positive surprises on the bottom line. Shares have moved lower following back-to-back releases, as we can see below by the arrows.
Image Source: Zacks Investment Research
Tesla shares are somewhat cheap on a relative basis, with the current 5.7X forward price-to-sales ratio nicely beneath the 8.2X five-year median and steep highs of 23.9X in 2021. The stock presently carries a Style Score of ‘C’ for Value.
Image Source: Zacks Investment Research
Bottom Line
With earnings season ramping up, investors will have plenty of quarterly prints to sort through in the coming days.
And, as expected, many eyes will be on Tesla (TSLA - Free Report) when it reveals its quarterly results on Wednesday after the market’s close.
Analysts have shown some bearishness for the release, with the Zacks Consensus EPS Estimate moving slightly over the last several months. In addition, the company announced its production/delivery numbers, which represented another quarterly record and results above Tesla’s annual target.
Heading into the release, Tesla is a Zacks Rank #2 (Buy) with an Earnings ESP of -1.0%.