Tesla (TSLA) is scheduled to report 3Q22 results with a conference call following at 5:30 p.m. E.T.

Analysts are forecasting TSLA to report EPS and revenue of $1.08 and $21.9 bln, respectively. After announcing that it delivered a quarterly record of 343,000 vehicles in Q3 (+42% yr/yr) on October 3, TSLA is poised to report record quarterly revenue as well.

Delivery numbers missed analysts' expectations and trailed the production number of 365,000 by a very wide margin. This discrepancy between production and deliveries has created some demand concerns, especially since lead times for new vehicles has been shortening.

TSLA explained that it's becoming more difficult to secure vehicle transportation at reasonable costs as its production volume grows. As a result, there were more cars in transit at the end of Q3. This is what some explain is the difference between production and deliveries.

The company will need an unprecedentedly strong finish to the year to meet its 50% delivery growth target. TSLA will need to deliver nearly 500K vehicles in Q4, representing a sequential increase of 42%.

TECHS:

TSLA has been weak heading into the report, down nearly 30% since mid-September. The drama surrounding Musk and his acquisition of Twitter (TWTR) is in part weighing on the stock.

Musk has already sold about $15 bln in TSLA shares this year to help finance the deal. Musk recently stated that he's likely done selling TSLA stock. But it is possible that another round of selling will be needed if he can't secure capital to fund the TWTR deal.


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