Tesla announced their best first quarter ever earlier this month. The automaker was able to deliver nearly 185,000 vehicles around the world, despite no production of the Model S or Model X.
The strong quarter followed an equally strong 2020 with 500,000 deliveries and multiple quarterly records.
Given the recent hot streak, Wall Street’s expectations are high that Tesla will post another profitable quarter to kick off 2021. Here’s what to expect when CFO Zachary Kirkhorn announces the official numbers later today.
Earnings
Tesla is expected to post non-GAAP earnings of 79 cents per share. For comparison, Tesla earned 80 cents per share in Q4 2020, and 23 cents per share in Q1 2020.
Revenue
Wall Street consensus for revenue is $10.29 billion. That figure is slightly below Q4 2020 ($10.74 billion), but 72% higher than Q1 2020.
Regulatory Credits
As always, there will be a strong focus by critics on Tesla’s regulatory credit revenue. The money Tesla makes from other automakers buying their credits has resulted in a steady flow of income over the last few years. In Q4 2020 it accounted for 4.3% of its revenues.
Announcements
After all the financial figures have been announced, CEO Elon Musk usually makes at least a few big announcements.
Later today we will hopefully hear an update on the Model S/X refresh. After initially hoping to begin deliveries as early as February, a suspected parts shortage means we have yet to see one in the hands of a lucky owner.
We will likely also hear an update of the Full Self-Driving (FSD) beta program. After nearly weekly software updates, the current fleet of beta testers have been eagerly awaiting V9, which Musk said should be coming soon.
Maybe we’ll even get an update on when it will be coming to Canada.
How to listen to Tesla Q1 2021 Financial Results
What: Date of Tesla Q1 2021 Financial Results and Q&A Webcast
When: Monday, April 26, 2021
Time: 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time
Q1 2021 Update: http://ir.tesla.com
Webcast: http://ir.tesla.com (live and replay)
Approximately two hours after the Q&A session, an archived version of the webcast will be available on the Company’s website.
Legal Disclaimer – Darryn holds shares of Tesla, Inc. (TSLA).
