Tesla (TSLA) earnings for the fourth quarter of 2022

Hong Kong, China, September 13, 2022, a red Tesla car drives past a Tesla dealership in Wanchai. (Photo by Mark Fernandez/NurPhoto via Getty Images)

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Electric car maker Tesla plans to report fourth-quarter results after the market closes on Wednesday.

According to Refinitiv, here’s what analysts were expecting as of Wednesday morning:

  • Earnings (adjusted): $1.13 per share
  • Revenue: $24.16 billion

In the same quarter last year, Tesla reported revenue of $17.72 billion and adjusted earnings of $2.52 per share.

earlier this month, Tesla It reported vehicle delivery and production numbers for the fourth quarter of 2022 that set a new record for the company, but it fell short of the company’s goals and analyst expectations, despite cutting prices on its cars in December to motivate customers to take deliveries before the end of the year.

Tesla reported deliveries of 405,278 vehicles and production of 439,701 vehicles in the period ending December 31, 2022. Deliveries for the full year were about 1.31 million, a record for Tesla, after the company began production at its new plants in Austin, Texas and Brandenburg, Germany.

Last year, Musk said the factories were like “money-burning furnaces” in an Owners Club interview posted to YouTube in June.

So far in 2023, Tesla has continued to lower the prices of its cars around the world, upsetting customers in the US and China who have recently bought new Teslas at higher prices, and leading to an immediate drop in used Tesla prices in the US as well.

Tesla asks questions before its earnings calls via a site called Say.com from retail and institutional investors.

Among other things, investors on this site say they want to know what recent price cuts will do to Tesla’s gross margins, how much the company expects to increase sales of its cars in 2023, and when Tesla plans to start mass production and deliveries. of its long overdue, sci-fi-inspired Cybertruck minivan.

Throughout the fourth quarter of 2022, shareholders also sought answers from Tesla and Elon Musk about his intentions for the automaker as Tesla shares plunged. Tesla’s stock price has fallen more than 40% over the past six months.

Musk currently splits his time, attention, and resources between Tesla and SpaceX, the defense contractor where he is CEO, and Twitter, the social media company he recently acquired.

The famous CEO sold billions of dollars worth of his Tesla holdings last year, including $3.6 billion in the fourth quarter, in part to fund the Twitter deal, which closed in late October 2022. He promptly appointed himself “Chief Twit,” and CEO there.

Since taking over Twitter, he has made sweeping changes to the business and service, including allowing people who have been permanently suspended from the platform to get back online.

Musk’s moves on Twitter, and his political statements on the social media platform, have been associated with a sharp decline in the reputation of Musk and Tesla, particularly among liberal to very liberal-leaning people in the United States, according to research YouGov shared with CNBC.

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