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Tesla (TSLA) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates

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For the quarter ended March 2026, Tesla (TSLA - Free Report) reported revenue of $22.39 billion, up 15.8% over the same period last year. EPS came in at $0.41, compared to $0.27 in the year-ago quarter.

The reported revenue represents a surprise of +2.12% over the Zacks Consensus Estimate of $21.92 billion. With the consensus EPS estimate being $0.36, the EPS surprise was +13.04%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Tesla performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Total vehicle deliveries: 358,023 versus 362,278 estimated by six analysts on average.
  • Model 3/Y deliveries: 341,893 versus 359,564 estimated by five analysts on average.
  • Other models deliveries: 16,130 versus 12,750 estimated by five analysts on average.
  • Total Leased Units: 3,430 versus 10,003 estimated by two analysts on average.
  • Storage deployed: 8,800.00 MWh versus the two-analyst average estimate of 10,637.55 MWh.
  • Revenues- Energy generation and storage: $2.41 billion versus $3.46 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -11.8% change.
  • Revenues- Services and other: $3.75 billion versus $3.41 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +42% change.
  • Revenues- Automotive sales: $15.47 billion compared to the $15.56 billion average estimate based on eight analysts. The reported number represents a change of +19.7% year over year.
  • Revenues- Automotive regulatory credits: $380 million versus the five-analyst average estimate of $413.12 million. The reported number represents a year-over-year change of -36.1%.
  • Total Automotive Revenue: $16.23 billion compared to the $14.42 billion average estimate based on four analysts. The reported number represents a change of +16.2% year over year.
  • Revenues- Automotive leasing: $381 million versus $311.22 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -14.8% change.
  • Gross profit- Total Automotive: $3.42 billion versus $2.66 billion estimated by six analysts on average.

View all Key Company Metrics for Tesla here>>>

Shares of Tesla have returned +0.9% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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