Current: Tesla falls short of expected Q3 sales record, EPS slightly above forecast
Image: Tesla (symbolic photo)
Following better-than-expected electric vehicle deliveries in Q3 2026, Tesla slightly missed its sales forecast for the quarter: Analysts had predicted an average of $28.34 billion in Tesla’s highest sales ever, but after the market closed on Wednesday, the actual figure was $28.05 billion, slightly lower than a year earlier. The adjusted earnings per share were slightly higher than expected at $0.48.
Tesla reports strong performance in Q3
Analysts had predicted an average adjusted earnings per Tesla share of $0.45. This figure was about 7 percent higher than that in Q3 2025, when Tesla reported its highest sales figure to date at $28.1 billion. That record was further surpassed in Q2 of this year, with total sales across all Tesla segments reaching $28.24 billion.
In a summary, Tesla highlights “strong momentum” in many projects related to AI (referred to by CEO Elon Musk as superintelligence or SI), robotics, and renewable energy. These are deemed crucial for creating a future of “amazing abundance,” which Tesla has set as its latest mission. Meanwhile, its core electric vehicle business is performing well: order backlog at the end of Q3 was the highest it has been in four years.
German Gigafactory Sets Record
Tesla states that a new production record was achieved in the German Gigafactory during the third quarter. As previously announced, it is estimated to be 7,500 Model Y vehicles per week, corresponding to the currently installed capacity of 375,000 units per year according to the report. In Q3, battery availability was a limiting factor for increasing car production. However, progress has been made, and efforts are underway to maximize utilization of the factories.
The slight sales disappointment in Q3 can be attributed, according to the data, to the energy segment, which contributed only $2.9 billion instead of the expected $3.7 billion. However, Tesla now reported the highest order rate and largest order backlog in history for stationary storage. Demand here is rising alongside that for solar infrastructure; constraints on power grids and availability have created new opportunities for its own Megapacks.
Tesla’s Fusion with SpaceX Under Consideration
In a phone conference with investors scheduled for 11:30 PM German time on Wednesday, Tesla is expected to provide further details on the quarter and future projects. Investors have recently been most interested in the Cybercab, which officially launched its robotaxi service in Q3, and the Optimus robot, whose production in Fremont has reportedly begun now. However, this topic has come to the forefront since CEO Musk confirmed the consideration of a merger with Tesla at a SpaceX conference the previous day.