Tesla will report its Q3 2022 earnings after the market close on October 19th, 2022. The company will discuss the details about its suspected drop in Q3 2022 demand for electric vehicles and reveal more details about the Tesla bot, Optimus.
Tesla CEO Elon Musk will be present for the live earnings call so tune in if you want to hear what the world’s richest man thinks about Tesla’s future growth and the overall global economy.
Will Tesla Beat Q3 2022 Earnings?
Tesla has beat earnings for 6 straight quarters in a row so there’s a likely chance history repeats itself again.
Q3 2022 earnings estimates are $0.87 per share, which Tesla could beat thanks to June 2022 price increases.
Tesla delivered 343,830 units in Q3 2022 (Up 42% YoY) but the company fell short of analysts’ estimate of 350,000 to 370,000 deliveries.
According to Tesla’s Q3 2022 delivery and production report, The company stated:
“As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks.”
Watch Out for Q4 2022 Guidance
The stock market is always looking forward so pay attention to Elon Musk’s forward guidance for Tesla. TSLA shares could rally with a positive earnings beat and good news about suppy shortages and rising costs for raw materials & parts.
Netflix posted a stellar Q3 2022 report so this could be a good sign for big tech companies in general. It may be worth loading up on Tesla call options before earnings to profit from a rally in TSLA stock price during afternours trading.
TSLA stock is down 44% YTD and it looks like sellers have been exhausted. I will probably load up on call options before market close on Robinhood and hope for the best.
Tesla stock could rally after a positive Q3 2022 earnings beat so be prepared for some volatility after market close on October 19th.