Tesla set to report fourth-quarter earnings after the bell

Elon Musk, chief govt officer of Tesla Inc and X (previously Twitter) Ceo speaks at the Atreju political conference organized by Fratelli d’Italia (Brothers of Italy), on December 15, 2023 in Rome, Italy. 

Antonio Masiello | Getty Images

Tesla is set to report fourth-quarter earnings for 2023 after the bell Wednesday.

Here’s what analysts expect, in accordance to estimates compiled by LSEG, previously referred to as Refinitiv:

  • Earnings: 74 cents per share
  • Revenue: $25.6 billion

While different U.S. automakers struggled to make and promote a excessive quantity of absolutely electrical automobiles final 12 months, Tesla reported 484,507 deliveries in the fourth quarter and greater than 1.8 million for 2023. Hefty worth cuts helped Tesla obtain that quantity, which was a report for the firm.

Tesla’s income doubtless elevated by round 5% 12 months over 12 months for the quarter, per LSEG.

On the world stage, Chinese auto big BYD topped Tesla throughout the final quarter of 2023. But Tesla maintained its lead in gross sales of battery electrical automobiles for the full 12 months.

Labor prices are rising domestically. In order to make its wages aggressive versus automakers like General Motors, Ford and Stellantis, the place workers are represented by the United Auto Workers, Tesla lately rolled out pay will increase for a lot of of its hourly manufacturing unit workers in the U.S.

Tesla can also be dealing with union pressure in Sweden and throughout Scandinavia, and a wide-ranging array of litigation and ongoing regulatory probes in the U.S. and Europe. CEO Elon Musk is below extra strain than ever to ship on his longstanding promise of a software program replace that may flip current Teslas into self-driving robotaxis with out {hardware} adjustments.

Tesla shareholders submitted questions for executives to reply through the platform Say Technologies forward of the earnings name.

They’re asking when Tesla plans to debut its “next-generation” car, a extra inexpensive EV referred to by followers as the Model 2. Investors additionally need to know the variety of orders Tesla has obtained for its lately launched Cybertruck and when the firm plans to enhance manufacturing of its 4680 battery cells and electrical Semi truck at its Nevada Gigafactory.

Shareholders voiced considerations about Musk’s current demand to management extra of the firm. In a Jan. 15 post on X, previously Twitter, Musk wrote: “I’m uncomfortable rising Tesla to be a pacesetter in AI & robotics with out having ~25% voting management. Enough to be influential, however not a lot that I am unable to be overturned. Unless that’s the case, I would like to construct merchandise exterior of Tesla.”

On the Say platform, buyers requested, “Should retail shareholders be involved that Elon has said he’s uncomfortable increasing AI and robotics at Tesla if he would not have 25% of voting?”

Even investor Ross Gerber, who’s been a Musk fan and Tesla bull for years, bristled at the proposition. Gerber mentioned on CNBC’s “Last Call” with Brian Sullivan, that Musk was “blackmailing” Tesla shareholders, and that “the concept that he would not management Tesla is absurd.” He added that “everybody on the board is a pal or member of the family of his.”

Musk is already constructing synthetic intelligence merchandise exterior of Tesla, together with at X.AI, a startup he included in Nevada in March 2023, in accordance to public filings. On a Tesla earnings name in July 2023, Musk instructed analysts, “there have been simply a few of the world’s greatest AI engineers and scientists that have been prepared to be a part of a startup however they weren’t prepared to be a part of a big, kind of comparatively established firm like Tesla.”

Tesla has introduced plans to construct its personal information facilities, Dojo supercomputers and a humanoid robotic, branded Optimus.

Tesla shares have dropped about 16% to date this 12 months as of Tuesday’s shut after greater than doubling in 2023.

WATCH: Elon Musk is very much in charge of Tesla

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