Tesla to Report Q3 2026 Earnings Amid Speculation of SpaceX Tie-Up

Tesla will present its third-quarter 2026 earnings after market close on Wednesday, following a SpaceX earnings call in which CEO Elon Musk suggested a merger between the two companies. Analysts surveyed by LSEG project earnings of 43 cents per share on revenue of $27.9 billion, slightly below the $28.1 billion recorded a year earlier. Tesla reported third-quarter vehicle deliveries of 486,532, a 2 % decline from the same period last year.

Musk, who leads both firms, said a merger could be beneficial but would require a 50 % shareholder vote, describing the prospect as “a high hurdle.” He highlighted potential collaboration on AI software, chip design, and robotics, noting that Tesla already uses SpaceX-developed Grok AI in its vehicles and in the development of the Optimus humanoid robot.

Tesla’s capital expenditures are expected to exceed $25 billion this year, up from about $8.5 billion in 2025, driven in part by a semiconductor plant being built with SpaceX and Intel in Texas. The company also continues to focus on its Full Self-Driving (FSD) subscription service, which reached roughly 1.5 million paid customers globally by June, and on the Cybercab robotaxi prototype currently in testing.

"I feel like I'm tap dancing through a minefield," Musk said on the SpaceX call when asked about a merger.

"Do I think it would be a good idea? Yes," he added, noting that shareholder approval would be essential.

"We have close to 1.5 million paid FSD customers globally as of the end of June," CFO Vaibhav Taneja told investors in July.

Tesla’s stock has fallen 14 % this year, underperforming other large-cap technology firms, while SpaceX’s shares have risen since its June IPO.