2026
Semi quarterly production
Sep 42,698trucks
500–7,500 range
Derived from public YES prices · observed Sep 4, 2026
TSLA
Tesla
PRICE + EARNINGS
TSLA · daily price and volumeOFFICIAL CLOSE · Sep 3, 2026$376.37
SCHEDULED REPORTOct 21, 2026Tentative · As of Sep 3, 2026
EPS ESTIMATE$0.41
52-WEEK RANGE$297.38—$498.83
THE OPERATING DRIVER
The delivery forecast tightened as the cycle weakened.
Derived from public YES prices · observed Aug 11, 2026
Forecasts
Questions
TIMING
Tesla–SpaceX combination
Derived from public YES prices · observed Sep 4, 2026
Q2 2026 · July 22, 2026
Revenue grew. The economics weakened. Autonomy absorbed the call.
Robotaxi and Cybercab were already near-certainties. Safety was the unpriced constraint; China was the conspicuous miss.
44¢ expected
below consensus
quarterly result
$374.01 → $319.69
THE MARKET’S STORY
The market understood the destination but mispriced the friction. Tesla delivered the autonomy script, then attached safety, regulation and heavy capital spending to it.
Autonomy and factory expansion were the market's base case
Safety qualified at 19%; China failed at 89%
EARNINGS WORDS
What the call was about
CONFIRMEDSemi
93% before the call
5:34 PM ET · +4 minStart+23 min+45 min
Autonomy and AI
Vehicles and manufacturing
Energy and infrastructure
Corporate and capital
Policy and geography
THE CALL
How management moved through the quarter
SaidNot saidnumber = price before call
Prepared remarks · Elon Musk
Demand moved from cars to autonomy
Record second-quarter deliveries mattered, but management framed FSD and robotaxi adoption as the next demand engine.
Prepared remarks · Elon Musk
New factories became the capital story
Cybercab production had started, while Semi, Optimus and Terafab turned the call toward manufacturing scale and execution risk.
Financial review · Vaibhav Taneja
Growth arrived with weaker economics
Revenue beat expectations, but lower automotive and energy margins and a heavy capital-spending plan dominated the financial read-through.
Q&A · Management
Safety and regulation set the robotaxi pace
Management described robotaxi expansion as a safety-led rollout constrained by local rules, not simply vehicle availability.
Q&A · Management
SpaceX was acknowledged, not resolved
Collaboration with SpaceX and xAI surfaced, while management declined to turn that relationship into a transaction discussion on the call.