Tesla Reports Earnings: Here's What to Expect

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Tesla's  (TSLA) - Get Report reported second quarter will be a pandemic quarter. Here's what to watch for as sales and earnings rebound going forward. 

Tesla reports on July 22 and not only is the stock is up 317% since the bear market low in late March, but it's also up 51% in the past month to $1,507 and trading at an expensive valuation, at 120 times next year's earnings per share. 

Here's what analysts are expecting for the quarter: 

  • Sales: $5 billion (-21% year-over-year)
  • Gross Margin: 17% 
  • Deliveries: 81,000 (-14%) 
  • Company said it delivered 90,000
  • EBITDA: $701 million 
  • Adjusted Net Loss Per Share: 14 cents 
  • Negative Free Cash Flow: $396 million 

"What we need to keep in mind is that the factory in fremont was shut down for a significant portion of the quarter, about 7 weeks or so," said Rob Maurer, TheStreet's Tesla Maven and Head of Tesla Daily. "As we move forward to Q3 when they have a full quarter of production, we should see delivery numbers jump significantly from that 90,000 level, maybe even up to 150,000 for Q3." 

More from Tesla Maven: Tesla Q2 Earnings Estimates & Preview

Underlying demand for electric vehicles has remained strong in 2020 despite the headwinds. As Tesla continue to manufacture, it should be business as usual. 

The question now: how much more can the stock run in the near-term? 

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