Tesla is expected to notch a third consecutive quarterly profit, thanks in part to the electric-vehicle maker’s ability to navigate global supply-chain disruptions
to customers in the three months ended in September, up roughly 73% from a year earlier, despite parts shortages that have hindered auto makers this year.
Wall Street expects Tesla after the bell on Wednesday to report around $1.3 billion in third-quarter profit, up from $331 million a year earlier, according to analysts surveyed by FactSet. Revenue is forecast to reach around $13.6 billion, compared with $8.8 billion in last year’s third quarter. The skeleton of a Tesla car at a showroom in China, now home to Tesla’s largest auto plant by output.Analysts expect Tesla’s vehicle deliveries to continue to climb in the current quarter to around 266,000, according to FactSet—positioning the company to hand over nearly 900,000 vehicles to customers in 2021. The company has said it is aiming to increase deliveries by more than 50% over last year’s total of nearly half a million vehicles.
Mr. Musk also suggested at the meeting that parts shortages were contributing to Tesla product delays. The company has postponed the rollout of its Cybertruck pickup by about a year. Production is now likely to start in late 2022. Output of the company’s long-delayed semitrailer truck, originally due in 2019, has been pushed back even further—to 2023.
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