Tesla Inc. is scheduled to report second-quarter earnings after the bell next Wednesday, with all eyes on the EV maker's sales amid expectations that it...
Tesla Inc. is slated to report second-quarter earnings after the bell next Wednesday, with all eyes on the EV maker’s sales and the expectation it could be another blowout quarter for the company.
Tesla TSLA reported second-quarter deliveries of 466,000 vehicles earlier this month, well above Wall Street expectations. “We see further upside in the shares over the next 12 months and believe the likelihood of the company hitting its production target of 1.8 million units is now a likely more than ever,” based on first-half results to date, Selesky said.
Another positive is Tesla’s falling debt level, said Brian Mulberry, a portfolio manager with Zacks Investment Management. As of March, Tesla’s net long-term debt and finance leases totaled $1.27 billion, down from $1.6 billion at the end of 2022, Mulberry said. Tesla is fresh from inking deals with several auto makers, including Ford Motor Co. F and General Motors Co. GM , in which the Supercharger network, clusters of Tesla’s fast-charging ports usually off major highways, will be open to the other companies’ EV owners.
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