TSLA: Tesla to Report Quarterly Deliveries Today, Analysts Trimmed Estimate to 450K

This quarter was a tough run for Tesla with several price-cut rounds. Still, its stock made it to the end of the trimester in the green.

• Tesla is reporting its delivery numbers for the third quarter today. And analysts aren’t too optimistic about it. Finance bros on Wall Street slashed their sales estimates from near 473,000 to 462,000. For the previous quarter, Tesla blew past forecasts, delivering 466,000 vehicles.
• Despite a wave of price cuts, Tesla stock TSLA wrapped up the September quarter with a tiny 2% gain. Presently, shares of the formidable EV heavyweight boast a 130% year-to-date increase, giving the company a valuation of just under $800bn.
• Still, the Elon Musk-led carmaker had some tailwinds for the quarter. The stock hit a 2023 high in mid-July when Tesla said that the first Cybertruck has rolled off the assembly line. Looking forward, the undisputed leader in the EV corner reports third-quarter earnings October 18.