Tesla (TSLA) outcomes Q1 2021

Tesla Motors CEO Elon Musk responded after the company went public on the NASDAQ market in New York on June 29, 2010

Brendan McDermid | Reuters

Tesla is expected to post a profit for the first quarter on the Monday after the bell.

According to Refinitiv estimates, analysts expect the following:

  • Merits: 79 cents per share expected
  • Revenue: Expected $ 10.29 billion.

Elon Musk’s electric vehicle business reported vehicle deliveries of 184,800 Model 3 and Y vehicles in the first quarter, exceeding expectations and setting a record for Tesla. However, the company also said it didn’t manufacture any of its high-end Model S sedans or Model X SUVs for the period leading up to March. (It delivered 2,020 older Model S sedans and Model X SUVs from inventory.) Investors will be looking for delays in production and sales colors for the updated S and X versions.

The company announced in February that it had purchased $ 1.5 billion worth of Bitcoin and may invest in other cryptocurrencies in the future. Bitcoin rose to record levels by April before pulling back.

Tesla said last month that Jerome Guillen, its former president of the automotive industry, would switch to the role of president of the heavy truck. It’s not clear who – if anyone – replaced Guillen, but staff updates could come after the bell during the profit call.

According to Say.com – a website where retail and institutional investors can submit and vote prior to Tesla’s earnings call – shareholders are looking for information on Tesla’s advances in self-driving technology, the reasons behind a sharp increase in prices when signed Solar roof agreements are. and details of the company’s plans for digital currencies.

Tesla’s vehicle batteries and automated driving systems, marketed in the U.S. as autopilot and full self-driving options, are under regulatory scrutiny following two fatal accidents in April – one in the spring in Texas and one in the Zengcheng district of Guangzhou. China.

Tesla is also facing increased competition in the electric vehicle business. Big car manufacturers like VW, Audi and Ford are finally selling pure battery electrics.

According to a new survey of US vehicle owners by CarGurus, 52% expect to own a battery electric vehicle in the next decade (up from just 34% in 2018). The survey also found that Tesla remains the most trusted brand for making electric vehicles. However, almost 80% of those interested in owning an electric car are open to buying from one of several brands.

Morgan Stanley’s head of global automotive research Adam Jonas wrote in a notice to investors last week that Tesla’s immediate priority should be “to expand capacity and industrialize” Tesla hegemony “in the face of increasing competition the market is getting even denser. ” Jonas raised his price target on Tesla stock last week from $ 880 to $ 900 ahead of the first quarter profit.

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