Tesla to Report Q2 2026 Results After Record Delivery Quarter

Tesla will announce its second-quarter 2026 financial results after the market close on July 22, with an earnings call scheduled for 5:30 p.m. ET. The company reported delivering 480,126 vehicles in the quarter, a 25% year-over-year rise and about 74,000 units above analyst expectations. Production totaled 451,758 units, meaning Tesla reduced inventory by roughly 28,000 vehicles, a reversal from the previous quarter when it built more than it sold.

On the energy side, Tesla deployed 13.5 GWh of storage, up more than 40% from the same period last year and slightly below the 13.8 GWh forecast. Analysts project revenue of $25.9 billion to $26.4 billion, representing 15%-17% growth from the $22.5 billion reported in Q2 2025 and exceeding the $22.38 billion posted in Q1 2026. Estimates for non-GAAP earnings per share range from $0.27 to $0.74, with a consensus around $0.53.

"Automotive gross margin excluding regulatory credits was about 12.5% in Q1," a Tesla spokesperson said, noting that the margin level will be a key indicator of profitability at the higher delivery volume.

Regulatory-credit revenue has been declining, with $439 million booked in Q2 2025, more than half of the prior year’s amount, and the federal EV tax credit expiring on September 30, 2025. Options traders are pricing in a potential 7.6% move in either direction after the report.

Shareholder questions submitted through Say Technologies highlighted interest in the status of Optimus Gen 3 production and constraints on expanding robotaxi operations, while the most-upvoted question concerned delays in meeting short-term robotaxi earnings targets.

The upcoming report will reveal whether the record delivery numbers translated into sustained automotive margins, a factor that analysts view as critical given the diminishing regulatory-credit cushion.