Tesla Q1 tonight

Tesla reports first-quarter 2026 earnings after the bell on Wednesday, April 22, with its webcast set for 5:30 p.m. Eastern. (ir.tesla.com) The company already said it delivered 358,023 vehicles in the quarter and produced 408,386, a gap of 50,363 vehicles that points to a larger inventory build than deliveries alone. Model 3 and Model Y deliveries were 341,893, while Tesla’s other models accounted for 16,130. (ir.tesla.com) Tesla’s own compilation of Wall Street estimates, published April 17, puts first-quarter revenue at $21.4 billion on average and non-GAAP earnings per share at $0.33. The same consensus shows gross margin at 17.5%, operating income at $541 million, and free cash flow at negative $1.6 billion. (ir.tesla.com) A quarterly earnings report is where Tesla ties together three businesses that move on different clocks: cars, energy storage, and software. Analysts in Tesla’s consensus expect $15.3 billion of automotive revenue, $2.9 billion from energy generation and storage, and $3.2 billion from services and other revenue. (ir.tesla.com) The delivery number landed below the average analyst forecast Tesla published on March 26, which called for 365,645 vehicles and 14.4 gigawatt-hours of energy storage deployments in the quarter. Tesla has not yet released its actual first-quarter energy storage deployment figure, so that line item is one of the main numbers still missing ahead of the report. (ir.tesla.com) The backdrop is a weaker vehicle quarter after a stronger finish to 2025. Tesla said it delivered 418,227 vehicles and deployed a record 14.2 gigawatt-hours of energy storage in the fourth quarter of 2025. (ir.tesla.com) In its January 28 annual-results release, Tesla said 2025 operating cash flow was $14.7 billion, free cash flow was $6.2 billion, and cash and investments rose to $44.1 billion. The company also said 2026 spending would include six new production lines across vehicles, robots, energy storage, and battery manufacturing. (assets-ir.tesla.com) Tesla has been telling investors that it is shifting from what it called a “hardware-centric business” toward a “physical AI company,” with Full Self-Driving software, robotaxis in Austin, and the Optimus humanoid robot featured alongside its car business. Wednesday’s report will show how much of that story is being backed by current revenue, margins, and cash flow. (assets-ir.tesla.com) The immediate test is simpler: whether Tesla can explain the gap between production and deliveries, show whether energy storage held up, and give investors a clearer 2026 outlook on the call after markets close. (ir.tesla.com)