22 Apr

Tesla to Release Q1 2019 Earnings on April 24: What to Expect

WRITTEN BY Jitendra Parashar

Tesla to report Q1 earnings this week

Tesla (TSLA) is set to release its first-quarter earnings report on April 24. In February, when Tesla launched its $35,000 version of its Model 3 car, its CEO Elon Musk during a conference call said, “Given that a lot is happening in Q1, we do not expect to be profitable in the first quarter,” The Detroit Bureau reported. Now, let’s take a quick look at Wall Street analysts’ latest estimates for Tesla’s first-quarter results.

Tesla to Release Q1 2019 Earnings on April 24: What to Expect

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Analysts’ latest estimates

According to the data compiled by Reuters as of April 22, Wall Street analysts expect Tesla to report a $0.69 net loss per share in the first quarter. This latest estimate reflected an improvement from the company’s adjusted net loss of $3.35 per share in the first quarter of 2018 but worse than adjusted net earnings of $1.93 per share in the fourth quarter of 2018.

Analysts expect Tesla’s first-quarter revenues to rise by 53.9% YoY to $5.25 billion. However, these estimates mean much lower revenues as compared to its revenues of $7.23 billion and $6.82 billion in the fourth and third quarters of 2018, respectively. In the previous couple of quarters, Tesla has managed to report triple-digit positive revenue growth on a YoY basis.

As a result, Tesla is expected to report an adjusted net loss of $119.25 million in the first quarter as compared to its adjusted net profit of $344.80 million in the previous quarter. Read What Are Analysts Expecting from Tesla’s Q1 2019 Earnings? to learn more.

Ford (F), the second largest US automaker, is scheduled to announce its first-quarter results on April 25.

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