Tesla is scheduled to report third-quarter results after the markets close Wednesday in what may be one of the most highly anticipated earnings reports this season.
Here's what Wall Street expects, based on average estimates of analysts polled by Refinitiv:
- Losses: 19 cents per share
- Revenue: $6.33 billion
It's been a tumultuous quarter for the electric car maker.
This is Tesla's first earnings report since the company and CEO Elon Musk agreed to pay a combined $40 million to settle civil fraud charges with the Securities and Exchange Commission over his Aug. 7 tweets about taking the company private at $420 a share. It will also be Musk's last report as chairman for at least three years. The agency is allowing him to stay on as CEO, but gave him 45 days to resign his role running the board as part of the settlement.
Shares of the company have been whipsawed over the last quarter with record trading volume and wild daily swings, depending on the news. The stock, which was trading around $296 a share Wednesday, is down less than 25 percent since Musk's now-infamous take-private tweets sent shares soaring to an intraday high of $387.46 a share on Aug. 7.
Investors are paying close attention to see how much cash Tesla is going through. It's been burning cash at a rate of almost $1 billion per quarter, and is expected to need more to proceed with its plans to build factories in China and Europe.
Musk has repeatedly said he expects the company to become sustainably profitable in the third quarter, having had just two profitable quarters prior to Wednesday's report since it went public in 2010.
Tesla's debt is rated at junk bond levels and is at risk for further downgrade by both S&P and Moody's Investors Service. Tesla has more than $1.3 billion in debt that matures over the next six months, meaning the company has to pay up or find a way to refinance. Its low ratings will make it all the more expensive as investors demand higher yields than what the company is already paying.
—CNBC's Lora Kolodny and Robert Ferris contributed to this article.
This story is developing. Check back for updates.
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