US electric car maker Tesla Motors is going to report first quarter earnings later on today and the analysts and investors have already shifted focus away from battery storage units to automobiles.
The shareholders of the fastest rising and youngest US automaker are eagerly expecting the financial results after the first three months of the year have passed, with the desire to see if the automotive enterprise is going to keep up its promise of eventually delivering 55,000 vehicles this year. The ambitious goal is also decisively interlocked with the introduction of the brand’s second model nameplate – the postponed Model X sport utility vehicle, which is scheduled to reach dealer showrooms this summer. A Bloomberg survey of analysts forecasts the Palo Alto, California-based electric automaker will still incur average losses of 49 cents a share not including some items. That’s even as for the first time the three months performance on sales has risen above one billion dollars and the company has already disclosed in April it sold 10,030 Model S premium electric sedans during the quarter.
Investors are expecting another quarterly loss, while also looking forward on a second quarter forecast and the overall pace for the full year financial situation. Tesla chief executive officer, billionaire entrepreneur and co-founder Elon Musk managed to raise expectations last week when he introduced the Tesla Energy product lineup of batteries for energy storage at home, at work and other utilities – though its expansion will have to wait for the Nevada gigafactory to be completed sometimes next year. Naturally, investors for now have to focus on the globall expansion performance and the approaching production start of the Model X crossover.