Tesla (TSLA) is scheduled to report Q2 results with a conference call to follow at 5:30 ET. Last quarter, its earnings were available on the Investor Relations page of TSLA's website at about 4:05 E.T.

Analysts are forecasting the electric vehicle maker to report EPS and revenue of $0.98 and $11.4 bln, respectively, equating to yr/yr sales growth of 89%.

Automotive gross margin is important to watch for. Last quarter, TSLA reported automotive gross margin of 26.5% vs. 25.5% in the year ago period and 24.1% in Q4

Carbon Credits is another metric to watch, which TSLA sells to other automakers. The company has been able to grease its results by selling an ample amount of these credits. In Q1, sales of regulatory credits jumped by 46% yr/yr to $518 mln.

Lastly, monitor TSLA's guidance, any input on the Cybertruck, anything out of China, and Bitcoin.

TECHS:

TSLA has exceeded top and bottom-line estimates in six of the past seven quarters, with 4Q20 being the exception.

On July 2, TSLA reported strong Q2 deliveries of 201,250, reaching a new quarterly record in the process, while achieving impressive yr/yr growth of 121%.

Shares have been in rally mode heading into the print, up ~17% since mid-May. However, the stock remains well below the record highs around the $900 mark seen in late January.

RESULTS:

Tesla beats by $0.47, beats on revs, automotive gross margin up 313 bps, reiterates outlook of achieving 50% annual growth in vehicle deliveries multi-year.

Reports Q2 (Jun) earnings of $1.45 per share, $0.47 better than the S&P Capital IQ Consensus of $0.98; revenues rose 98.0% year/year to $11.96 bln vs the $11.4 bln S&P Capital IQ Consensus.

Automotive gross margin of 28.4%, up 313 bps yr/yr. Vehicle ASP declined by 2% YoY as Model S and Model X deliveries were reduced in Q2 due to the product updates and as lower ASP China-made vehicles became a larger percentage of our mix.

Total deliveries of 201,304 vehicles, up 121%.

Total production of 206,421 vehicles, up 151%.

Solar deployed of 85 MW, up 215%.

Storage deployed of 1,274 MWh, up 204%.

Supply Chain: "Supply chain challenges, in particular global semiconductor shortages and port congestion, continued to be present in Q2. The Tesla team, including supply chain, software development and our factories, worked extremely hard to keep production running as close to full capacity as possible. With global vehicle demand at record levels, component supply will have a strong influence on the rate of our delivery growth for the rest of this year."

Outlook: "Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. In some years we may grow faster, which we expect to be the case in 2021. The rate of growth will depend on our equipment capacity, operational efficiency, and the capacity and stability of the supply chain."

If you liked this content please click the ❤️ below and/or share this post.

SHAMLESS PLUGS

CLICK HERE TO CHECK OUT MY 2021 PREVIEW OPINION PACKET. OVER 80 PAGES OF CONTENT AND INFORMATION AVAILABLE HERE.

TOTALLY FREE Trading Packet!

Click here to get my packet that shows you how I traded $600 into $100K FOR FREE.

This packet will explain to you in depth how I trade and how I manage my risk.

I am happy to share this. Just use the code KPAKFRAUD at checkout and you will get it TOTALLY FREE. You will pay absolutely nothing.

Check out the latest episodes on my YouTube above and SoundCloud channel below.