By @Simon Alvarez /Twitter
Tesla (NASDAQ:TSLA) has announced that it would be posting its financial results for Q2 2021 after the market closes on Monday, July 26, 2021. The company would be issuing a brief advisory with a link to its Q2 2021 Update Letter, which will be accessible from Tesla’s Investor Relations website.
A live Q&A session is also set for 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) to discuss the company’s financial results and outlook. An archived version of the Q2 2021 Q&A session would be available at the company’s official website about two hours after the earnings call concludes.
Tesla is approaching its second-quarter earnings call with some momentum. During the second quarter, the company met Wall Street’s already high expectations by producing a total of 206,421 vehicles and delivering a total of 201,250 cars. Deliveries were comprised of 199,360 Model 3 and Model Y, and 1,890 Model S. This was an improvement over Q1 2021 when the company produced 180,338 and delivered 184,800 vehicles.
In comparison, Wall Street’s consensus pointed to Tesla delivering 201,000 vehicles during the quarter. FactSet estimates were a bit higher, forecasting that Tesla would deliver 207,000 cars in Q2 2021, including 114,000 Model 3 sedans, 78,000 Model Y crossovers, and the rest being comprised of Model S and Model X.
According to Gene Munster of Loup Ventures, Tesla’s Q2 2021 results show that the company is a true growth story. This was because Tesla was able to post record numbers despite the headwinds it faced in the second quarter. These headwinds included an ongoing chip shortage that has adversely affected the auto industry as a whole, as well as delays in the rollout of the new Tesla Model S Plaid.
Munster, however, estimated that the headwinds Tesla has been facing would likely be addressed in the coming quarters, especially as the company starts hitting its stride with the production of the new Model S and Model X, both of which are high-margin cars. “For the second consecutive quarter, Model S and X deliveries were about 2k due to the ongoing model refresh. Normally S and X deliveries are around 15k per quarter. We expect S and X deliveries to rebound in the September quarter,” Munster wrote.
S3XYWORLD Offer Premium Tesla Aftermarket Accessaries. Tesla air freshener. SHOP Here.