Tesla (TSLA) to Report Q2 Earnings: What's in the Cards?

Zacks Equity Research

Tesla, Inc. TSLA is scheduled to report second-quarter 2019 results on Jul 24. In the last reported quarter, its earnings and revenues missed the Zacks Consensus Estimate.

In the past six months, shares of Tesla have underperformed the industry it belongs to. During that period, the stock has lost 10.3% against the industry’s growth of 5%.

Along with strong delivery of Model 3 sedan, the company’s energy generation and storage revenues for the soon-to-be-released quarter are likely to remain robust mainly due to the storage business. Tesla expects the gross margin of the energy business to grow in the quarter.

With a better supply of cells and new manufacturing equipment, the company aims to increase energy storage deployments in 2019.

Tesla currently carries a Zacks Rank #3 (Hold). It expects long-term growth rate to be 35%. Over the past month, the Zacks Consensus Estimate for current-year loss has narrowed down from $1.23 to $1.11.

Tesla has an Earnings ESP of -25.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Tesla, Inc. Price and EPS Surprise

 

Tesla, Inc. Price and EPS Surprise

Tesla, Inc. price-eps-surprise | Tesla, Inc. Quote

Stocks to Consider

Here are a few auto stocks worth considering, comprising the right combination of elements to come up with an earnings beat this time around:

Cummins Inc CMI currently has an Earnings ESP of +3.48% and a Zacks Rank of 3. It is slated to release second-quarter 2019 results on Jul 30. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Penske Automotive Group, Inc PAG presently has an Earnings ESP of +0.42% and a Zacks Rank of 3. It is slated to release second-quarter 2019 results on Jul 30.

Dana Incorporated DAN currently has an Earnings ESP of +0.45% and a Zacks Rank of 3. It is slated to release second-quarter 2019 results on Jul 31.

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