Tesla (TSLA) is scheduled to report Q3 results with a conference call set to follow at 5:30 p.m. ET.
Analysts are expecting Tesla to report EPS and revenue of $1.61 and $13.7 bln, respectively. On a yr/yr basis, an inline quarter would equate to EPS and revenue growth of 112% and 56%, respectively.
Chip shortages and supply chain disruptions remain a prime concern for TSLA and every other auto manufacturer. TSLA has managed to navigate around these issues better than most (allegedly). TSLA implemented a strategy to substitute semiconductors that are in short supply with alternative chips, and then rewrite the firmware to maintain production.
TSLA's production has remained remarkably strong, illustrated in its record deliveries for Q3.
On October 3, the company reported that Q3 vehicle deliveries soared by more than 70% yr/yr to 241,300 units. General Motors (GM) and Ford Motor (F) and other manufacturers have reported yr/yr decreases in deliveries as the companies idle plants due to chip shortages.
Lastly, any commentary regarding the Cybertruck production timeline will be of interest. TSLA recently pushed back the launch until late 2022, after formerly projecting a late 2021 launch.
TECHS:
Tesla has been on fire heading into the report. The stock is up ~18% since early September, and is flirting with an all time high. The interesting thing about TSLA is it trades at a 0.9 ratio with bitcoin the last several years. The move is basically lock step with bitcoin.
This surge clearly raises the stakes for TSLA, making an impressive report necessary to keep the upward momentum going.
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