Tesla (TSLA) is scheduled to publish their Q2 2022 earnings report after markets close this afternoon. After a string of successive production and delivery records, Tesla posted their first decline in both metrics last quarter, mainly due to a three-week production shutdown, and subsequent slow production ramp to rebuild capacity, at Giga Shanghai.
However, Tesla still has industry-leading margins, so it will be interesting to see how Tesla fares on the financial side of the equation this afternoon.
Here’s what analysts are expecting from Tesla in their Q2 2022 financial report.
Earnings
According to a poll of Wall Street analysts by TipRanks, Tesla is expected to report earnings of $1.81 per share. If accurate that would be a 24.8% increase year-over-year (YoY) from Q2 2021 when Tesla earned $1.45 per share.
Revenue
The TipRanks consensus is for Tesla to announce $16.92 billion in revenue for Q2 2022. That is a 41.5% increase from their Q2 2021 revenue of $11.96 billion.
Deliveries
Tesla has already announced their preliminary delivery figures, but this will get a slight update this afternoon. While this will not be a major change, given the issues encountered during the second quarter we may get an update from Tesla on their annual delivery guidance.
Wedbush analyst Dan Ives expects Tesla will still be able to deliver 1.4 million electric cars this year, led by an increase in production from Giga Shanghai and additional supply from Giga Texas and Giga Berlin.
That would easily break the record set last year when Tesla delivered 936,222 vehicles.
Bitcoin Impairment
Tesla famously invested $1.5 billion into Bitcoin in 2021. The price of the cryptocurrency has gone on a roller coaster ride since then, increasing to over $64,000, but plummeting to less than $20,000 towards the end of Q2.
With the wild swing in value, Tesla is expected to report as much as a $440 million impairment on their Q2 earnings report. The price of Bitcoin has since recovered slightly and is currently trading around $30,000.
How to listen to Tesla Q2 2022 Financial Results
When: Wednesday, July 20, 2022
Time: 4:30 p.m. Central Time / 5:30 p.m. Eastern Time
Q2 2022 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Approximately two hours after the Q&A session, an archived version of the webcast will be available on the Company’s website.
Disclaimer: Darryn is a TSLA shareholder and has no plans to change positions within 72 hours.
