Tesla typically releases its quarterly production and delivery results on the second weekday after a quarter closes. That suggests we’ll see the highly anticipated Q3 numbers on Monday before market open.
Piper Sandler Alexander Potter Stays Bullish on Tesla and $300 price target
Wall Street consensus expects around 455,000 deliveries, but Tesla may fall short of estimates. Factoring in shutdowns at Shanghai and Texas factories, analysts have been slow to reduce forecasts.
Given Telsla’s ambitious 50% annual delivery growth target, expectations have remained high despite temporary pauses to upgrade equipment. Hitting nearly 500,000 would have been a stretch this quarter.
Most investors realize the growth trajectory remains intact regardless of one softer quarter. But some knee-jerk selling Monday is possible if the headline number misses consensus.
Savvy long-term shareholders may look to capitalize on any exaggerated stock drop as a buying opportunity. Tesla’s sales and earnings potential for 2024 and beyond remain strong.
Once the next-gen Model Y and Cybertruck ramp in Austin, Tesla has levers to accelerate growth next year. While Q3 deliveries may cause short-term concern, the future looks bright.
Tesla is playing the long game, even if that temporarily disappoints lofty quarterly estimates. Patience will likely be rewarded for investors taking a similarly long view.
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