Wall Street expects revenues of $24.11 billion in Q2 2024. This is a YoY decline of 3.3%, but an increase compared to Q1 2024 of 13.2%.
On July 2, 2024, Tesla released data on the number of deliveries in Q2 2024, which it publishes at the beginning of each quarter. Thus, in Q2 the total number of cars delivered (Total Deliveries) amounted to 444 thousand (the market expected 438 thousand – see Figure 1). This was 1.4% better than the consensus, 14.8% better than the number of cars delivered in Q1 2024, but 4.8% worse than Q2 2023.
Figure 2 shows the change in Wall Street expectations regarding projected revenues. In July 2024, Wall Street's forecast remained virtually unchanged (from July 4 to July 22).
However, after good data on deliveries, the consensus regarding EPS began to grow - see Figure 3. The EPS (adjusted) estimate for Q2 is currently $ 0.61 (on July 1 it was $ 0.57).
Fugure 4 shows quarter-by-quarter EPS estimate change from 2021 onwards. Figure 5 further shows the actual reported EPS.
Tesla will release results after the market close on July 23, 2024.
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