Tesla will report its Q3 2026 financial results on October 21. Wall Street analysts project flat revenue compared to the same period in 2025, with estimates ranging from $25.1 billion to $30.6 billion. Earnings per share are expected to decline by 10% year-over-year, with consensus estimates at $0.45.
In Q3, Tesla delivered 486,532 vehicles, exceeding the consensus of 461,974. Production totaled 464,391 units, meaning the company delivered 22,141 more vehicles than it produced. Model 3 and Model Y accounted for 478,237 deliveries, while other models saw a 48% year-over-year decline to 8,295 units.
Energy storage deployments reached 13.7 GWh in Q3, missing analyst expectations of 15.9 GWh. This figure represents a 9.6% increase from the 12.5 GWh deployed in Q3 2025. In Q2 2026, the storage business reported a 20.4% gross margin.
Financial performance remains under pressure as capital expenditures for 2026 are projected to exceed $25 billion. In Q2, Tesla reported a negative free cash flow of $1.09 billion, while operating margins fell to 1.4%. Automotive gross margins excluding regulatory credits dropped to 16.3% in the previous quarter.
