Tesla TSLA Q2 2022 earnings

Tesla Inc.’s signage. outside the dealership at the Easton Town Center shopping center in Columbus, Ohio, U.S., on Friday, December 10, 2021.

Luke Sharrett | Bloomberg | beautiful pictures

Tesla is set to report second-quarter earnings after the bell on Wednesday.

Here’s what investors are expecting, according to a consensus of analyst estimates compiled by Refinitiv:

  • Earnings per share: $1.81 expected
  • Turnover: $17.1 billion expected

In the first day of this month, Tesla reported vehicle deliveries were 254,695 electric cars for the period ending June 30, 2022, representing a 27% growth quarter-over-quarter, but an 18% decrease in order. Deliveries are the closest approximation to sales that Tesla discloses. Its Model 3 and Model Y vehicles accounted for 93% of those deliveries.

Last year in the second quarter, Tesla said deliveries reached 201,250 vehicles, hitting 200,000 for the first time in a three-month period. In the first quarter of this year, Tesla reported deliveries 310,048 vehicles.

Russia’s brutal invasion of Ukraine and the Covid outbreak in China exacerbated the ongoing shortage of semiconductors and components, among other difficulties in the supply chain. Covid restrictions in Shanghai forced Tesla to suspend or limit production at its factory there for the second quarter of 2022.

CEO Elon Musk lamented too high costs of starting production at new plants in Austin, Texas, and Grünheide in Brandenburg, Germany. In an interview with Tesla Owners Silicon Valley, a fan club recognized by the company, Musk said the two new factories “are giant smelters.”

CEO announced slope cut the number of heads in June.

Tesla’s crypto holdings also have the potential to drop in value significantly, depending on how the company trades them. Barclay analyst Brian Johnson said: in Monday that he expected Tesla to record a loss of approximately $460 million due to bitcoin refuse.

On the brighter side, Tesla recently marked a major milestone with an employee posting on LinkedIn this week that the company had surpassed production. 2 million cars at the Fremont, California plant.

According to a White House Memorandum From June 28, Tesla also plans to “start production of a new Supercharger device that will allow non-Tesla EV drivers in North America to use Tesla Superchargers.”

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