Summary
Tesla's first quarter earnings and revenue release is scheduled for late Tuesday. TSLA shares sank 3% to 142.65 in Monday market action, hitting a fresh 52-week low of 138.80. A key question for the Tesla earnings call is whether Elon Musk is shelving the Model 2 for several years.
Tesla reported in early April that first quarter deliveries totaled 386,810. The deliveries included a combined 369,783 Model 3 and Model Y units. Tesla stock is now down more than 16% in April after falling around 13% in March. It would be the first year-over-year revenue decline since early in the pandemic.
The EV giant ranks eighth in the 35-member IBD Auto Manufacturers industry group. Wall Street currently expects Tesla earnings per share of just $2.67 in 2024. That would be more than a 14% decline vs. last year's $3.12.