Tesla reports third-quarter earnings after the stock market close Wednesday. Investors are quite interested in learning more about the teased Cybercab product, but CEO Elon Musk seems fully focused on his pay package and the upcoming Tesla shareholder meeting.
Analyst consensus pegs third-quarter EPS falling 24% to 55 cents vs. 72 cents in Q3 2024, according to FactSet. Revenue should climb about 4.6% to $26.33 billion. The closest Q3 2025 analyst estimate to Tesla's performance a year ago is 69 cents per share, according to FactSet.
Beyond the top and bottom line earnings numbers, analyst and investor attention during Wednesday's earnings release and conference call will be on Musk's projections for robotaxi scaling and autonomy.
Another major topic could be the Cybercab, which Tesla has said will begin production in 2026. Mirroring this interest, one of the top three questions, as voted for by retail investors, to be asked during the earnings call is: What are the plans for new car models? Will Tesla build compact car models leveraging the unboxed Cybercab platform? Will Tesla build a traditional SUV and pickup truck in the Cybertruck platform?
The Cybercab product was unveiled in 2024 during Tesla's "We, Robot" event, billed the company's completely autonomous two-seater — without a steering wheel, break or gas pedal — "robotaxi" vehicle. Observers have spotted the Cybercab this month driving on Tesla's Fremont Test Track as well as at the EV giant's Texas facility. The sightings seem to show the vehicle being manually driven, leading some observers to speculate that Tesla could release the vehicle in both forms — autonomous and manual.
Adding fuel to the fire, recent local reports out of China suggest Tesla and Musk are looking to restart its "low-cost" vehicle project, which was scrapped in 2024 in favor of robotaxi development.
The Cybercab is expected to use an "unboxed" manufacturing process. There are signs that Tesla has made progress on this new system, but investors will want to know if it's ready, and if it'll deliver tout savings.
Tesla: Musk Focuses On Pay Deal
However, while investor interest in the new product seems high, it is possible Musk will not give any details, as he often claims on earnings call that they are not "product launches."
Musk also seems much more interested in discussing his pay package. The board in early September proposed a new pay package for Musk worth nearly $1 trillion over the next decade if he and the EV giant hit a series of performance targets.
Why Tesla May Blow Out Third-Quarter Earnings Estimates
Tesla and Musk have been promoting the need to vote in favor of the proposal with statements on X and paid advertisements.
On Friday, proxy advisor Institutional Shareholder Services, ISS, recommended Tesla investors vote against Musk's pay package. Tesla's X account responded Friday, calling the recommendation "unfounded and nonsensical."
Meanwhile, Musk responded Sunday to a post on X about wanting Tesla to succeed but not to overpay its CEO.
"Tesla is worth more than all other automotive companies combined. Which of those CEOs would you like to run Tesla? It won't be Me," Musk warned.
Fellow proxy advisor Glass Lewis has also recommended investors oppose Musk's pay deal. Tesla's X account criticized the decision Monday.
Under the board's pay proposal, Musk must meet a series of goals to receive the full compensation package. The milestones include 20 million Tesla vehicles delivered, 10 million active full self-driving subscriptions, 1 million Optimus robots delivered and 1 million robotaxis in commercial operation all while growing the company's market capitalization by trillions of dollars.
Investors will vote on the pay package and other measures, including investment in Musk's xAI company, during the Nov. 6 annual shareholder meeting.
Tesla Stock Performance
TSLA rose around 1.9% to around 447.32 during Monday's stock market, making a move above an aggressive early entry.
Tesla stock jumped 6.2% to 439.31 in the past week, with all the trading within the prior week's downside reversal. Shares reclaimed the 21-day exponential moving average on Oct. 13, then were relatively calm.
The stock has a deep handle with a 470.75 buy point on a very deep base going back to late December, according to MarketSurge charts. The handle has had some big, high-volume tumbles, but is starting to tighten up.
Aggressive investors could use Friday's high of 441.46 as an early entry. However, the recent volatile market action and upcoming Tesla earnings raise the risks.
Tesla stock is on the IBD Leaderboard watchlist and was the IBD Stock Of The Day Friday.
Investors can keep tabs on the IBD 50 list of top growth stocks and IBD SwingTrader along with the IBD Sector Leaders list.
TSLA has a 78 Composite Rating out of a best-possible 99. The stock also has a 91 Relative Strength Rating and a 54 EPS Rating.
Please follow Kit Norton on X @KitNorton for more coverage.
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