2024-07-17 15:47:50 ET
Summary
- Tesla, Inc. is scheduled to report its 2024 Q2 earnings on July 23.
- Its inventory buildup remains a key concern despite Q2's consensus-beating delivery data.
- Uncertainties around lease accounting further cloud the signal from the delivery data.
- I urge you to pay close attention to additional information that can provide clarity in its Q2 earnings report.
- Until then, I consider the stock as a HOLD.
TSLA stock: Q2 earnings scheduled on July 23
I last wrote on Tesla, Inc. ( TSLA ) with a HOLD thesis more than a month ago (on June 12, 2024, to be exact). That article, entitled " Tesla: Inventory Does Not Lie ", cautioned investors about the inventory buildup. Quote:
I see a mixed picture facing TSLA stock and thus rate it as a HOLD under current conditions. To reiterate, TSLA is still the leader in the EV space, a sector I anticipate enjoying secular growth for years or even decades to come. However, over the next 1~2 years, I see strong growth headwinds and I see its current inventory buildup as a clear reflection of these headwinds.
Read the full article on Seeking Alpha
For further details see:
Tesla Q2 Preview: Lease Accounting In Focus