Wolfe Research: Tesla's Q2 delivery volume and earnings performance are expected to remain robust

Glonghui, June 18th｜Wolfe Research stated that Tesla's delivery volume and profitability in the second quarter are expected to remain stable, but the long-term performance of its stock price will depend on its execution in the robotaxi and humanoid robot sectors. Analyst Emmanuel Rosner predicts that Tesla's global deliveries in the second quarter will reach 420,000 units, up approximately 10% year-over-year, surpassing the market consensus of around 400,000 units. The analyst forecasts that the gross margin of the automotive business in the second quarter will remain at a low range of 18%, with earnings per share between $0.50 and $0.52, higher than the market consensus estimate of $0.45.