Tesla is on deck for earnings on Wednesday, April 22.
Analysts generally expect first-quarter EPS of about 36 to 39 cents a share on revenue of about $22 billion to $22.4 billion.
We already know that Tesla had a softer quarter in terms of deliveries. The company reported 358,023 vehicles delivered—roughly 7,600 units below expectations of 365,645. Production came in at 408,386 vehicles, meaning inventory increased by more than 50,000 units during the quarter, a figure that could raise concerns about demand and pricing pressure.
That said, investor focus has increasingly shifted away from near-term EV margins—which remain under pressure—and toward Tesla’s longer-term technology boom.
Key themes to watch during the earnings call include progress in artificial intelligence, updates on robotaxi development, and commentary on growth expectations for 2026 and beyond. These areas are becoming central to Tesla’s valuation.
A major source of recent optimism has been Tesla’s A15 chip initiative. According to Elon Musk, the chip is nearing production readiness. The company is also planning to build two advanced chip fabrication facilities in Austin, Texas—one focused on chips for vehicles and robotics, and another, in partnership with SpaceX, aimed at supporting orbital data centers.
Helping, UBS recently raised its price target on Tesla to $352, signaling growing confidence despite near-term operational headwinds.
Sincderely,
Ian Cooper
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