As usual, Tesla already disclosed its Q2 vehicle delivery and production numbers, which drives the vast majority of the company’s revenue.
Earlier this month, Tesla confirmed that it delivered just over 254,000 electric vehicles during the second quarter of the year.
This is the first time in a long time that Tesla’s deliveries were down and it is due to lockdown restrictions in Shanghai forcing the automaker to shut down Gigafactory Shanghai for weeks during the quarter.
Delivery and production numbers are always slightly adjusted during earning results
For revenue, analysts generally have a pretty good idea of what to expect, thanks to the delivery numbers, but it is harder this quarter to adjust down instead of up this time.
The Wall Street consensus for this quarter is $16.521 billion, and Estimize, the financial estimate crowdsourcing website, predicts a significantly higher revenue of $17.186 billion.
It’s rare that the range is this significant, but it is to be expected with this quarter’s conditions. It is also interesting that revenue estimates are not that far off from the previous quarter, despite already knowing that Tesla delivered about 50,000 fewer vehicles this time around.
Here are the predictions for Tesla’s revenue over the past two years: Estimize predictions are in blue, Wall Street consensus are in gray, actual results are in green:
Tesla always attempts to be marginally profitable every quarter as it invests most of its money into growth, and it has been successful doing so over the last two years now.
For Q2 2022, the Wall Street consensus is a gain of $1.81 per share, while Estimize’s prediction is higher with a profit of $2.06 per share.
These earnings estimates are even more surprising than the revenue estimates since they point to Tesla barely slowing down on the earnings side of things despite the challenges during the quarter with Shanghai being shut down for weeks and Texas and Berlin losing a lot of money while trying to ramp up production.
Here are the earnings per share over the last two years: Estimize predictions in blue, Wall Street consensus in gray, actual results in green:
