Q1 2026 Earnings Consensus
Please find below the latest company-compiled earnings consensus estimates of sell-side analysts. Tesla does not endorse any information, recommendations or conclusions made by the analysts. Q1-2026 and 2026 data represent company-compiled consensus estimates.
Estimates provided by: Baird, Barclays, Canaccord, Cowen, Daiwa, DB, Evercore, Exane, GS, HSBC, Mizuho, Morgan Stanley, New Street, Opco, RBC, Truist, UBS, Wedbush, Wells Fargo, William Blair
| Q1-2026 | 2026 | ||||||||
| P&L | Average | Median | St. Deviation | # of Inputs | Average | Median | St. Deviation | # of Inputs | |
| Automotive | 15,311 | 15,415 | 602 | 20 | 68,646 | 68,675 | 4,041 | 20 | |
| Energy generation and storage | 2,906 | 2,462 | 778 | 20 | 16,773 | 16,244 | 1,863 | 20 | |
| Services and other | 3,199 | 3,141 | 280 | 20 | 14,413 | 14,517 | 714 | 20 | |
| Total revenues | 21,417 | 21,135 | 1,129 | 20 | 99,832 | 98,965 | 4,701 | 20 | |
| COGS | -17,674 | -17,543 | 957 | 20 | -81,907 | -82,410 | 3,675 | 20 | |
| Gross profit | 3,744 | 3,746 | 342 | 20 | 17,925 | 18,278 | 1,648 | 20 | |
| Gross margin | 17.5% | 17.5% | 1.2% | 20 | 17.9% | 18.2% | 1.2% | 20 | |
| Operating Expenses GAAP | -3,203 | -3,255 | 328 | 20 | -13,461 | -13,768 | 895 | 20 | |
| Income (loss) from operations | 541 | 451 | 497 | 20 | 4,464 | 4,096 | 1,915 | 20 | |
| Operating margin | 2.5% | 2.1% | 2.2% | 20 | 4.4% | 4.0% | 1.8% | 20 | |
| Interest and other | 251 | 323 | 182 | 20 | 888 | 1,321 | 874 | 20 | |
| Income (loss) before income taxes | 792 | 751 | 442 | 20 | 5,352 | 5,324 | 1,837 | 20 | |
| Taxes | -197 | -207 | 117 | 20 | -1,325 | -1,390 | 469 | 20 | |
| Net income (loss) | 595 | 551 | 344 | 20 | 4,027 | 4,273 | 1,507 | 20 | |
| Net income (loss) attributable to NCI and redeemable NCI | 11 | 12 | 8 | 20 | 47 | 60 | 31 | 20 | |
| Net income (loss) attributable to common stockholders | 584 | 533 | 345 | 20 | 3,979 | 4,203 | 1,507 | 20 | |
| Share count (diluted) | 3,610 | 3,544 | 156 | 20 | 3,618 | 3,552 | 156 | 20 | |
| EPS - GAAP | 0.16 | 0.14 | 0.10 | 20 | 1.10 | 1.18 | 0.42 | 20 | |
| Total SBC, net of tax | 595 | 597 | 216 | 19 | 2,570 | 2,400 | 896 | 19 | |
| Digital assets gain (loss), net of tax | 19 | 0 | 90 | 19 | 156 | 0 | 501 | 19 | |
| EPS - non-GAAP | 0.33 | 0.30 | 0.09 | 19 | 1.87 | 1.85 | 0.30 | 19 | |
| Cash Flow and Energy | Average | Median | St. Deviation | # of Inputs | Average | Median | St. Deviation | # of Inputs | |
| Operating CF | 2,534 | 2,618 | 1,134 | 16 | 13,736 | 13,648 | 1,685 | 19 | |
| Capex | -4,109 | -4,000 | 539 | 16 | -20,320 | -20,143 | 393 | 19 | |
| FCF | -1,575 | -1,780 | 1,137 | 16 | -6,584 | -6,685 | 1,729 | 19 | |
| Cash, cash equivalents and marketable securities | 40,530 | 41,748 | 4,064 | 15 | 35,725 | 36,649 | 3,744 | 17 | |
| Energy GWh | 60.1 | 59.9 | 5 | 13 | |||||
| Other Models deliveries | 54,475 | 37,050 | 57,186 | 19 | |||||
| Model 3/Y deliveries | 1,592,508 | 1,595,259 | 78,561 | 19 | |||||
| Total deliveries | 1,657,805 | 1,654,503 | 62,528 | 20 | |||||