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Tesla is due to report earnings after the bell Tuesday, with Wall Street looking for any sign of a reprieve from this year's struggles. Here's the company's setup heading into the report, what analysts expect and which product updates analysts and investors are going to focus on. Big earnings drop expected For the first quarter, analysts polled by LSEG expect Tesla to report earnings of 51 cents per share, which represents a 39.8% year-over-year decline in earnings. Wells Fargo's Colin Langan maintained his underweight rating and cut his price target to $120 a share, citing poor fundamentals. Deutsche Bank's Emmanuel Rosner downgraded the stock to hold from buy and slashed his price target to $123 a share.
Persons: Tesla, Tom Narayan, Itay Michaeli, Wells Fargo's Colin Langan, Deutsche Bank's Emmanuel Rosner, Rosner, Morgan Stanley's Adam Jonas, Jonas, Elon Musk, Musk, America's John Murphy, Murphy, Deutsche Bank's Rosner, Levy Organizations: Management, RBC, LSEG, Citi, Deutsche, EV, Reuters, America's, Barclays, Tesla
Tesla can't outrun the EV slowdown
  + stars: | 2024-04-02 | by ( Nora Naughton | ) www.businessinsider.com   time to read: +3 min
AdvertisementElectric-vehicle leader Tesla is finally starting to feel the pinch of a slowdown in EV sales that is already rocking the rest of the industry. This rough quarter is the first sign that the EV leader is not immune to a slowdown in electric vehicle sales that has dogged its competitors since the latter half of 2023. Related storiesSo far, Tesla has largely been able to keep up with a changing demographic of electric vehicle shoppers by flexing its hefty profit margins to lower prices. Is Tesla ready for the next wave of EV buyers? For the newest electric car shoppers in the market, simply lowering prices may not be enough to win them over.
Persons: , Tesla, Elon, Deutsche Bank's Emmanuel Rosner Organizations: EV, Service, Boston Consulting Group, Deutsche
Wall Street is worried about Tesla's Q1 deliveries. Wedbush Securities analysts have called it "a nightmare quarter for Tesla." AdvertisementWall Street is getting nervous about Tesla's Q1 deliveries. Analysts' consensus puts the number of deliveries at 477,000 for Q1, according to UBS, which itself has cut its estimate to 432,000. Wedbush analysts called the company's Q1 deliveries "a nightmare quarter for Tesla."
Persons: , Morgan Stanley, Deutsche Bank's Emmanuel Rosner, Tesla, Daniel Ives, Elon Musk Organizations: Wedbush Securities, Tesla, Service, Deutsche Bank, EV maker's, UBS, Bloomberg, Deutsche, Wall, CNBC, Business Locations: Berlin, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with former Ford CEO Mark Fields and Deutsche Bank's Emmanuel RosnerMark Fields, former Ford CEO, and Emmanuel Rosner, Deutsche Bank lead auto technology analyst, join 'Squawk on the Street' to discuss the recent attitude towards electric vehicles, some of the challenges in leveraging the growth in electric vehicles, and more.
Persons: Mark Fields, Deutsche Bank's Emmanuel Rosner Mark Fields, Emmanuel Rosner Organizations: Ford, Deutsche, Deutsche Bank
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's an overall slowdown in EV adoption, says Deutsche Bank's Emmanuel RosnerEmmanuel Rosner, Deutsche Bank lead auto technology analyst, joins 'Squawk on the Street' to discuss the auto industry, why there's a slowdown in EV adoption, and more.
Persons: Deutsche Bank's Emmanuel Rosner Emmanuel Rosner Organizations: Deutsche, Deutsche Bank
As legacy automakers increasingly ramp production of all-electric vehicles, cushioned by the profits of gas-powered models, a handful of EV startups are scrambling to conserve cash and stay in the mix. It also means the amount of cash Fisker had left as of the end of March, $652.5 million, isn't yet cause for alarm. Still, Fisker cut its production guidance for 2023 to between 32,000 vehicles and 36,000 vehicles, from 42,400 in its original plan. Or as Evercore ISI analyst Doug Dutton wrote before Fisker's earnings report, "Fisker is beginning to turn into a story of binary and 'show me' outcomes." It had $108.1 million remaining as of the end of March, but it lost $171.1 million in the first quarter .
Persons: Tesla, Rivian, Claire McDonough, Rivian's, It's, McDonough, Deutsche Bank's Emmanuel Rosner, Rosner, Sherry House, Peter Rawlinson, Bank of America's John Murphy, Murphy, Aston Martin, Henrik Fisker, Fisker, Doug Dutton, Dutton, Nikola Nikola, Trevor Milton, Nikola, Voltera, TD Cowen, Jeffrey Osborne, Osborne, Polestar Polestar, it's, Johan Malmqvist isn't, aren't, Deutsche Bank's Rosner, Lordstown, Foxconn, Foxconn doesn't Organizations: EV, Amazon, Deutsche, Lucid's, Bank of America's, BMW, Global, Magna International, Nikola, Iveco, Volvo Cars, Geely, Lordstown, Nasdaq, General Motors Locations: Georgia, Magna, Austria, U.S, Europe, North America, Nikola's, Swedish, China, Ohio, Lordstown
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