Tesla has published its official Q2 2026 earnings consensus, giving investors a look at what Wall Street expects from the automaker’s financial results.
The earnings consensus follows the production and delivery consensus, which the company significantly outperformed earlier this month.
Ahead of Tesla’s Q2 vehicle delivery report, analysts compiled by the company had forecast deliveries of 406,024 vehicles. Instead, Tesla reported 480,126 deliveries, beating consensus by more than 74,000 vehicles and marking one of the biggest surprises of the quarter.
With those results now official, analysts expect the company to generate $27.58 billion in total revenue during the second quarter. Automotive revenue is projected to account for $20.05 billion, while Tesla’s energy generation and storage business is expected to contribute $3.77 billion. Services and other revenue is forecast to add another $3.76 billion.
On profitability, Wall Street expects Tesla to post gross profit of $5.38 billion, resulting in a gross margin of 19.5%. Operating income is forecast at $1.50 billion, representing a 5.4% operating margin.
Analysts are also expecting GAAP earnings per share (EPS) of $0.36, while non-GAAP EPS is projected to come in at $0.55. Net income attributable to common shareholders is estimated at approximately $1.28 billion.
Despite the stronger delivery performance, analysts still expect Tesla to report negative free cash flow of about $3.25 billion for the quarter. The forecast reflects nearly $6.7 billion in capital expenditures as Tesla continues investing heavily in AI infrastructure, manufacturing expansion, Robotaxi deployment, and other long-term growth initiatives.
The company is also expected to end the quarter with approximately $41.0 billion in cash, cash equivalents, and marketable securities.
Tesla is scheduled to report its second quarter financial results after market close on Wednesday, July 22. The company has also started accepting questions to be asked during the call, with investors seeking clarity on stalled robotaxi deployments and progress on Optimus.
Always get the latest - make Drive Tesla your preferred source on Google
Are you buying a Tesla? If you enjoy our content and we helped in your decision, use our referral link to get three months of Full Self-Driving (FSD).Drive Tesla uses affiliate links, which means we may earn a commission if you make a purchase through them, at no additional cost to you. Thank you for your support.
