Tesla Earnings Report: Analysts Project Lower Sales and Profit for Q1 2024
Tesla Stock Down Over 40% Year-to-Date
Analysts predict a dip in Tesla's earnings per share despite strong projections from Estimize
Tesla, Inc. (TSLA), the world's most valuable automaker, is poised to release its quarterly earnings report on Tuesday, April 23, after the market closes. Analysts anticipate a decline in sales and profit for the first quarter (Q1) of 2024.
According to the Wall Street consensus, Tesla is expected to report earnings of $0.49 per share for Q1 2024. Estimize, an analyst aggregation platform, is slightly more optimistic, predicting earnings of $0.52 per share.
In comparison, Tesla reported earnings per share of $0.85 in the prior quarter (Q4 2023). The projected drop in earnings reflects the company's recent challenges, including production disruptions and macroeconomic headwinds.
Tesla's stock has underperformed its tech sector peers in 2024, declining by more than 40% year-to-date. The stock closed at $231.67 on Monday, April 22.
Investors will be closely monitoring Tesla's earnings report for insights into the company's current financial performance and future outlook. The report will be released after the market closes on Tuesday, April 23.
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