Tesla Motors Inc Earnings: Expect Above Consensus Results

Tesla Motors Inc (NASDAQ:TSLA) will release its fiscal third-quarter results on Wednesday, Nov.5 after the market closes. Shares of the electric vehicle maker ticked up 1.14% in pre-market trading. Analysts polled by FactSet expect the company’s Q3 revenue to jump 48% YoY to $891.67 million, with a net loss of one cent a share.

Tesla Q3 Earnings

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Tesla likely delivered 8,200 Model S in September quarter

Last week, Tesla CEO Elon Musk said that the company’s North America deliveries in the third quarter soared 65% from last year. It implies U.S. deliveries of close to 4,900 units. Barclays analyst Brian A. Johnson said in a research note that Tesla likely delivered 8,200 Model S units between July and September, well above the company’s guidance of 7,800 units.

Barclays was expecting 7,844 Model S deliveries with 5 cents in earnings. The research firm forecasts third-quarter revenues of $920 million. But strong Model S sales imply pro-forma EPS of 12 cents. Johnson  estimates that Tesla delivered 1,700 units in Europe and about 1,600 units in Asia. The research firm was expecting 2,400 Model S deliveries in Asia. But a recent report from The Wall Street Journal suggests that only 1,600 Model S units were imported into China in Q3.

Tesla Deliveries

Expect healthy earnings from Tesla

Barclays expects Tesla Motors Inc (NASDAQ:TSLA) to reiterate its full-year delivery guidance of 35,000 units. If the company delivers 8,200 units in Q3, the fourth-quarter implied guidance stands at 12,800. By comparison, the research firm expects the automaker to deliver 12,200 units in Q4. What’s more, the Palo Alto-based company signed a deal with the U.S. Bank to offer a new low-cost lease option, which may push up deliveries.

During its second-quarter earnings call, Tesla said that it would be “marginally profitable” in the third-quarter. The company cautioned investors that the capex would jump significantly as it continued to build its supercharger network and expand in new markets. However, the delivery data points to a healthy 12 cents a share in earnings. The company had lost 12 cents per share in the same quarter last year.

Tesla Motors Inc (NASDAQ:TSLA) shares were up 1.10% to $241.55 in pre-market trading Wednesday.