Tesla, Inc. (TSLA) Earnings
Tesla, Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $0.45. TSLA has beaten EPS estimates in 5 of its last 12 reported quarters (average surprise +4.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $0.35 | $0.41 | +15.9% | $22.4B | +1.3% |
| Jan 28, 2026 | $0.45 | $0.50 | +9.9% | $24.9B | +0.5% |
| Oct 22, 2025 | $0.56 | $0.50 | -10.4% | $28.1B | +5.9% |
| Jul 23, 2025 | $0.40 | $0.40 | +0.7% | $22.5B | +1.0% |
| Jan 29, 2025 | $0.77 | $0.73 | -5.7% | $25.7B | -5.7% |
| Oct 23, 2024 | $0.58 | $0.72 | +24.1% | $25.2B | -1.1% |
| Jul 23, 2024 | $0.62 | $0.52 | -16.1% | $25.5B | +3.9% |
| Jan 24, 2024 | $0.75 | $0.71 | -5.3% | $25.2B | -1.5% |
| Oct 18, 2023 | $0.72 | $0.66 | -8.3% | $23.4B | -3.1% |
| Jul 19, 2023 | $0.82 | $0.91 | +11.0% | $24.9B | +1.8% |
| Apr 19, 2023 | $0.85 | $0.85 | +0.0% | $23.3B | +0.2% |
| Jan 25, 2023 | $1.13 | $1.19 | +5.3% | $24.3B | -1.4% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 22, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Elon Musk: 2026 has exciting projects ahead. Substantially increasing capital expenditures. Investing in core technologies, supply chain. Cybercab and Semi production starting with slow initial ramp. Megapack 3 production later this year. FSD version 14.3 major update, v15 coming. Robotaxi expanded to Dallas and Houston. Optimus preparing for starter production, second factory in Giga Texas. AI chip team taped out AI5, working on AI6 and Dojo 3. Chip fab construction on Giga Texas campus. Vaibhav Taneja: Autos business saw demand growth, order backlog highest in over 2 years. Focus on increasing production volume. Auto margins improved. FSD adoption improved, approvals in Netherlands and China. Energy storage business lumpy. Services and Others improved. Large capital investment phase ahead.
Guidance
Elon Musk: Expect significant increase in capital expenditures. Cybercab and Semi production to ramp up. Megapack 3 production later this year. FSD v15 expected by end of this year or early next year. Optimus starter production later this year, second factory in Giga Texas around summer next year. Vaibhav Taneja: Expect over $25 billion of CapEx in 2026. Focus on increasing production volume across factories. Working on resolving battery pack capacity limiter.
Segment performance
Autos business: Resurgence in demand in EMEA, APAC, and U.S. Ended Q1 with highest order backlog in over 2 years. Giga Berlin reached record output of over 61,000 units in Q1. Auto margins, excluding credits, improved sequentially from 17.9% to 19.2%. FSD adoption: Reached nearly 1.3 million paid customers globally, bulk from subscriptions. Energy storage: Deployed 8.8 gigawatt hour in Q1, 38% sequential decline, but expected 2026 deployments higher than 2025. Gross margins over 39.5% due to onetime benefits. Services and Others: Improved sequentially from 8.8% to 9.2%.
Risks & headwinds
Elon Musk: Competitors frame-by-frame analysis of new technology. For Optimus, new supply chain and technology lead to slow initial production. For Robotaxi, rigorous validation is limiting factor. Tariffs and sustained high interest rates impact automotive cost. Vaibhav Taneja: Tariffs in energy storage business can have outsized impacts. Uncertainty around final outcome of Supreme Court ruling on IEEPA tariffs.
Analyst Q&A
Q: When will Optimus 3 reveal and production start, expected production rate exiting this year?
A: Optimus 3 unveil maybe middle of this year. Start of production around late July, August. Impossible to predict production rate this year.
Q: What milestones for unsupervised FSD and Robotaxi expansion beyond Austin this year, how drive recurring revenue?
A: Hope to have unsupervised FSD or Robotaxi operating in states by end of this year. Unsupervised FSD or Robotaxi revenue not super material this year, but material next year.
Q: When expect FSD unsupervised to reach customer cars?
A: Probably in fourth quarter, release gradually.
Q: How hardware 3 cars reach unsupervised FSD?
A: Hardware 3 can't achieve unsupervised FSD. Offer discounted trade-in for cars with AI4 hardware, upgrade to hardware 4 needed. V14 version for Hardware 3 expected end of June.
Q: What enabled AI5 tape out early, changes to original vision, AI5 in vehicle road map?
A: Team worked incredibly hard. AI5 expected in Optimus and data center. AI4 to get upgrade to use newer generation RAM.
Q: Robotaxi strategy for Europe after FSD approval in Netherlands?
A: Still waiting on regulators for unsupervised FSD or Robotaxi approval in Europe.
Q: Robotaxi safety data, why not deploy thousands to accelerate removal of safety driver?
A: Increasing QA fleet, using customer fleet for metrics. Focus on safety, solving scaling issues.
Q: Is v14.3 last piece for large-scale unsupervised FSD, wait for V15?
A: 14.3 is last piece, but major architectural improvements in pipeline.
Q: Tesla's solar energy generation business, residential roof deployments, solar strategy?
A: U.S. residential solar market in correction, introduced lease product. Debuted solar panel and mounting system. Invest in solar and storage growth at residential and utility scale.