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Tesla (TSLA) to Report Q1 Earnings: What's in the Cards?

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Tesla, Inc. (TSLA - Free Report) is scheduled to report first-quarter 2019 results on Apr 24. In the last reported quarter, its earnings missed the Zacks Consensus Estimate. However, revenues surpassed the same.

In the past six months, shares of Tesla have underperformed the industry it belongs to. During that period, the stock has lost 7.1% against the industry’s growth of 11.3%.

Tesla, Inc. Price and EPS Surprise

 

Despite the recent decline in Model 3 production, energy generation and storage revenues for the soon-to-be-released quarter is likely to remain robust mainly due to the storage business. Tesla expects the gross margin of the energy business to grow in the quarter.

With a better supply of cells and new manufacturing equipment, the company aims to more than double energy storage deployments to more than 2 GWh in 2019.  Also, it plans to ramp up the production of Solar Roof, with significantly improved manufacturing capabilities during 2019, based on the design iterations and testing underway.

Tesla currently carries a Zacks Rank #4 (Sell). Its expected long-term growth rate is 35%. Over the past month, the Zacks Consensus Estimate for current-year earnings has declined from $5.51 to $1.63.

Tesla has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks to Consider

Here are a few auto stocks worth considering, comprising the right combination of elements to come up with an earnings beat this time around:

Wabco Holdings Inc. (WBC - Free Report) has an Earnings ESP of +2.37% and a Zacks Rank of 3 (Hold) at present. The company is expected to release financial results for first-quarter 2019 on Apr 26.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Cummins Inc. (CMI - Free Report) has an Earnings ESP of +2.02% and a Zacks Rank #3 at present. The company’s financial results for first-quarter 2019 are slated to release on Apr 30.

General Motors Company (GM - Free Report) has an Earnings ESP of +5.61% and a Zacks Rank #3 at present. The company’s financial results for first-quarter 2019 are slated to release on Apr 30.

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Wabco Holdings Inc. (WBC) - free report >>

Cummins Inc. (CMI) - free report >>