Techno King (TSLA Earnings)
After the close, Tesla (TSLA) is scheduled to report Q2 results with a conference call scheduled for 5:30 p.m. ET.
For the quarter, analysts are expecting TSLA to report EPS and revenue of $1.81 and $16.9 bln, respectively.
An inline quarter for sales would equate to a decline of about 10% on a sequential basis. This drop-off, though, is widely-anticipated.
The impact of those shutdowns was evident when TSLA reported Q2 deliveries on July 5. Specifically, deliveries slipped by 18% sequentially to 254,695 vehicles, representing the first qtr/qtr decline in deliveries in two years.
Analysts are forecasting free cash flow of about $900 mln, representing a 60% plunge from Q1.
On June 16, TSLA had another round of price increases.
Outside of the fundamental picture in Q2, Elon Musk's back-and-forth drama with Twitter (TWTR) has also weighed on TSLA shares.
TECHS:
TSLA is in a wedge below its prior trend.
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