Tesla reports earnings Wednesday with $26.4B revenue expected. Bulls cite demand momentum; Agar Capital flags $1T overvaluation. Full calendar ahead.
Tesla reports second-quarter earnings Wednesday after the close. Analysts expect revenue of $26.4 billion and earnings per share of $0.54. The company already disclosed Q2 deliveries of 480,126 vehicles and production of 451,758. Automotive gross margin excluding regulatory credits is expected to come in slightly above 18%, according to consensus.
Investor attention will center on updates around autonomy, software, the robotaxi rollout, and the AI4-AI5 chips. The capital expenditure needed to maintain Tesla's position in physical AI is another focus. The stock has slipped 2.6% on the session to $380.84; AlphaScala's proprietary score rates TSLA a 24 out of 100, labeled Weak.
Seeking Alpha analyst Yiannis Zourmpanos said Tesla enters earnings with momentum on its side. “The improvement in demand, rising analyst expectations, and strong execution show that the market could be undervaluing the stock’s potential earnings performance,” he added.
Agar Capital struck a different tone. The firm argues that a great company does not necessarily mean a great stock. It said Tesla's $1.5 trillion market cap is overvalued by $1 trillion for “businesses that still lack commercial scale, complete authorizations, verifiable unit economics, and significant FCF.”
Tesla is one of several high-profile names reporting this week. Domino's Pizza and AMC Entertainment report Monday. Novartis, 3M, General Motors, and Halliburton follow Tuesday. Wednesday brings Alphabet, Texas Instruments, IBM, AT&T, ServiceNow, Philip Morris, and Kinder Morgan alongside Tesla. Thursday sees Intel, T-Mobile, Lockheed Martin, Union Pacific, and Comcast. American Express, Verizon, and Charter Communications close out the week Friday.
The economic calendar is light, though AMD holds its Advancing AI event in San Francisco Wednesday, where CEO Lisa Su is expected to outline the chipmaker's latest AI strategy. The Farnborough International Airshow begins Monday, with Boeing, Airbus, and Embraer expected to announce orders. San Diego Comic-Con starts Thursday, drawing Disney, Warner Bros. Discovery, and Apple.
Separately, the U.S. military launched airstrikes targeting Iran's Islamic Revolutionary Guard Corps on Sunday, retaliating for an attack in Jordan that killed two American service members. Walmart removed four bagged iceberg lettuce salad products after a supplier notification tied to a cyclosporiasis outbreak. Caterpillar and Colgate-Palmolive go ex-dividend Monday, Dell Tuesday, and Pfizer Friday.
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