Tesla earnings date, guidance and results
Tesla plans to release Q3 results on October 21, 2026. Watch whether higher deliveries produce cash.
What has Tesla guided for 2026?
The current 2026 capex guide is more than $25 billion. The 2025 annual report had anticipated spending above $20 billion, so the programme expanded during the year. In Q2, operating cash flow was $4.697 billion. Capex was $5.789 billion, leaving negative free cash flow of $1.092 billion. Free cash flow therefore shows whether the business still has cash after operating costs and investment.
| the period guided | low | high | the date it was given | |
|---|---|---|---|---|
| capital expenditures | Year to Dec 2026 | 25 | Jul 23, 2026 |
Did Tesla keep its past promises?
Tesla certified all the milestones in Musk’s earlier award. But Musk forecast vehicle-sales growth of 20%–30% for 2025. Actual deliveries fell 8.6%. Earlier achievements deserve credit, while later promises still need to be tested against deadlines and commercial results.
What are Tesla's revenue and profit trends?
Q2 2026 showed a sales recovery, not yet an earnings recovery. Revenue rose 25.5% year over year, and vehicle deliveries reached 480,126.
Gross margin slipped to 16.8%, while operating income fell to $398 million. Gross margin is the share of revenue left after direct costs; operating income also subtracts ongoing expenses. Tesla sold more while retaining less operating profit.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 28,236 | 22,387 | 24,901 | 28,095 | 22,496 | 19,335 | 25,707 | 25,182 |
| Gross margin | 16.8% | 21.1% | 20.1% | 18.0% | 17.2% | 16.3% | 16.3% | 19.8% |
| Operating income | 398 | 941 | 1,409 | 1,624 | 923 | 399 | 1,583 | 2,717 |
| Net income | 1,114 | 477 | 840 | 1,373 | 1,172 | 409 | 2,128 | 2,173 |
| EPS, diluted | 0.32 | 0.13 | 0.24 | 0.39 | 0.33 | 0.12 | 0.60 | 0.62 |
What should I watch in Tesla's next results?
Tesla plans to release Q3 results on October 21, 2026. It reported 486,532 deliveries for the quarter. Deliveries can spread factory costs across more vehicles, but only if prices and costs leave enough money on each sale. Annual deliveries fell from 1,789,226 in 2024 to 1,636,129 in 2025, so the new figure is a signal, not proof of improved revenue, profit or cash conversion.