Tesla posts $22.4B revenue, 358k deliveries
- Tesla reported first-quarter 2026 revenue of $22.39 billion on April 22, with adjusted earnings of 41 cents a share, after earlier disclosing 358,023 vehicle deliveries for the quarter. - The clearest pressure point was volume: Tesla built 408,386 vehicles but delivered 358,023, leaving roughly 50,000 more cars produced than handed to customers in the quarter. - Investors focused on what comes next: Tesla lifted 2026 capital spending guidance to more than $25 billion and said free cash flow will likely turn negative later this year. (cnbc.com)
Tesla reported $22.39 billion in first-quarter revenue on April 22, after delivering 358,023 vehicles earlier in the month. (tesla.com) (cnbc.com) Adjusted earnings were 41 cents a share, ahead of the 37 cents analysts expected, while revenue came in below the $22.64 billion consensus tracked by LSEG. (cnbc.com) Tesla said first-quarter operating cash flow was $3.9 billion, free cash flow was $1.4 billion, and cash, cash equivalents and short-term investments rose by $700 million. (tesla.com) The quarter’s operating picture was weaker than the income statement looked. Tesla produced 408,386 vehicles and delivered 358,023, including 341,893 Model 3 and Model Y deliveries. (tesla.com) That left Tesla with roughly 50,000 more vehicles built than delivered in the quarter, a sign that inventory rose even as the company said demand improved in North America, Europe, the Middle East and Africa, and Asia-Pacific. (tesla.com 1) (tesla.com 2) Investors zeroed in on spending plans after the earnings beat. Chief Financial Officer Vaibhav Taneja said 2026 capital expenditures will top $25 billion, up from Tesla’s prior $20 billion outlook. (cnbc.com) Taneja also said that heavier spending means Tesla expects negative free cash flow for the rest of 2026 as it ramps Cybercab, Semi, Optimus and more artificial-intelligence computing. (techcrunch.com) (finance.yahoo.com) Tesla’s shareholder update said the company launched unsupervised Robotaxi rides in Dallas and Houston in April and received approval for Full Self-Driving, supervised, in the Netherlands the same month. (tesla.com) But Elon Musk said on the earnings call that Hardware 3 vehicles cannot achieve unsupervised Full Self-Driving with their current computers, a reversal for cars sold with that hardware since 2019. (theverge.com) (teslanorth.com) Tesla’s stock initially rose in extended trading after the report, then gave up those gains after management raised spending guidance. The quarter closed with profit intact, but with Tesla asking investors to fund a much bigger build-out beyond cars. (cnbc.com)
