Tesla to Report 1Q Earnings Amid Renewed Scrutiny About its Autopilot Functions

Tesla’s Monday report, scheduled after the closing bell, marks the start of the busiest week of first-quarter 2021 earnings season with 169 S&P 500 companies scheduled to report. The electric vehicle (EV) maker’s results will be followed by a packed Tuesday and Wednesday with Google (GOOG, GOOGL), Apple (AAPL), Amazon (AMZN), Facebook (FB), Microsoft (MSFT), Boeing (BA), GE (GE), AMD (AMD) and Visa (V) being among the many companies reporting.

Turning back to Tesla (NASDAQ: TSLA), it goes without saying that the electric vehicle (EV) maker’s results will dominate today’s headlines.

Street Consensus

Wall Street consensus calls for the Tesla earning $0.74 a share on adjusted basis, indicating a 270% increase from the $0.20 figure reported in the year-ago quarter. The consensus forecast for the fiscal quarter ending 3-31-2021 is for revenue of $10.5 billion, 75% higher than the $5.99 billion posted in the first-quarter of 2020.

EarningsWhisper.com, a research firm focused on earnings expectations accuracy, reports $0.86 per share and revenue of $10.24 billion.

If Tesla beats, it would hand Elon Musk’s company its seventh consecutive quarter of profit.

Record Deliveries

Tesla has already reported deliveries for the January-to-March quarter that vastly exceeded expectations. Earlier this month the EV maker said it delivered 184,800 vehicles globally during the first quarter, well-above the previous record of 180,570 achieved last quarter. Investors will be looking for clues during Tesla’s earnings call in terms of how the next 3 quarters of the year could pan out.

The consensus forecast currently calls for about 800,000 deliveries over the course of 2021.

It should be noted that Tesla will report amid renewed concerns and scrutiny about Autopilot (link), the company’s advanced driver assistance technology. There have now been multiple fatal accidents involving the use of Tesla’s Autopilot functions.

Tesla Stock

Shares of Telsa are down $1.65, or 0.23%, to $727.75 in pre-market action. The stock closed Friday at $729.40. TSLA has gained roughly 360% year-over-year and 3.36% year-to-date.

Shares of the $714 billion market cap company trade at a forward P/E ratio of 172. In the past 52 weeks, the ticker has traded between a 52-week range of $136.61 – $900.40.

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