Overview
- Tesla reports after the bell Wednesday with consensus near $22.1–$22.3 billion in revenue and about $0.35–$0.39 adjusted EPS, and options pricing signals a roughly 5%–6% post‑earnings move.
- Q1 deliveries of 358,023 trailed production of about 408,386, leaving roughly 50,000 vehicles in inventory and putting added pressure on pricing, margins, and near‑term free cash flow.
- Energy storage deployments fell to about 8.8 GWh from a record in Q4 2025, softening expectations that the energy unit can offset weakness in the auto business this quarter.
- Tesla expanded its Robotaxi service to parts of Dallas and Houston over the weekend with cars operating without safety drivers, while Elon Musk said the new AI5 chip design has taped out.
- Management has outlined more than $20 billion of 2026 capital spending and ended Model S/X production to free factory space for Optimus, focusing the call on funding plans and milestones like progress toward 10 billion FSD miles.