Tesla Inc. is expected to report fourth-quarter results after the bell on Wednesday, with all eyes on the Silicon Valley electric-car maker’s sales goals for 2021.
All through last year, despite factory closures and other pandemic-related snags, Tesla kept its 2020 sales guidance intact, and the company ended the year a hair’s breath from it, earning praise from Wall Street. The analysts expect an adjusted profit of $1.04 a share, which would compare with an adjusted profit of 43 cents a share a year ago. A fourth-quarter profit would be Tesla’s sixth straight quarterly GAAP and adjusted earnings.
Stock movement: Tesla stock greeted 2021 just about the same way it ended 2020: Scoring closing and intraday records highs. Earlier this month, the stock went on its longest-ever winning run. Besides an official 2021 sales guidance, Wall Street is looking for more commentary on the Model Y, the newest addition to the Tesla lineup, and on upcoming models, such as the Cybertruck and a cheaper vehicle that has been only hinted at and that has been dubbed the “Model 2.”
RBC analysts, led by Joseph Spak, said in a recent note they expect Tesla to reiterate its recently raised capex 2021 outlook, which calls for between $4.5 billion and $6 billion.
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