Investor's Corner
Tesla increases Q2 production by 20% but falls short of deliveries
Tesla issued its Q2 production and delivery numbers, indicating that the company produced 20 percent more cars this quarter than the previous however fell short in delivering the vehicles to customers.
The Silicon Valley based electric car company reported 18,345 vehicles produced in Q2 or roughly just under 2,000 vehicles per week, and delivered 14,370 vehicles though guidance was set at 17,000 vehicles. Tesla attributed the fact that “Tesla Q2 deliveries were lower than anticipated” to having “5,150 customer-ordered vehicles [..] still in transit, a much higher number than the 2,615 vehicles in transit to customers at the end of Q1.”
Tesla added that half it saw a huge production ramp towards the end of Q2 resulting in half of the quarter’s production occurring in the final four weeks. Model S continues to lead in terms of deliveries consisting of 9,745 units delivered versus 4,625 Model X.
Tesla Q2 2016 Vehicle Production and Deliveries Release [Source: Tesla Investor Relations]
As far as total deliveries for the full year 2016, “Tesla expects to produce and deliver about 50,000 vehicles during the second half of 2016”, which means it will not be able to hit the low end of previous guidance of “80,000 to 90,000 new vehicles in 2016” as the projected 2016 yearly number for 2016 now stands at 79,000.
Tesla Market Action
During the past week $TSLA stock seems to have safely discarded the major bad news about the Model S driver killed while using Autopilot. While the press was flooded with negative articles about the accident (I counted an average of 2-4 articles per day in the Wall Street Journal and on Bloomberg), and the news ended up being reported 2 days in a row in the national news broadcast of all major networks, Wall Street traders shrugged the bad news off completely. While the stock had a temporary drop to 206 in after hours extended trading on Thursday when the news came up on the wire, $TSLA stock shot back with a vengeance to the $216 level on Friday, giving traders one of the best weeks of the year with a whopping 15% weekly gain.
What will $TSLA stock do when the market reopens on Tuesday after the 4th of July holiday? If we look at the response after the Q1 deliveries were reported on April 4, most news outlets reported that Tesla Missed Its Q1 Delivery Targets. Wall Street traders did not care much then, trading the stock up for 3 sessions to an all time high of $266 after the news. In that case, Tesla had reiterated the 80 to 90 thousand deliveries for the year, which may have softened the bad news of total quarterly deliveries.
This is a quick look to today’s headlines in response to the Q2 delivery numbers.
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- The Verge: Tesla falls short of delivery estimates in Q2 despite ramping production
- NBC News: Tesla cranks out 20% more cars in Q2, but struggles to deliver them
- USA Today: Tesla deliveries in Q2 fall short of estimates
- ABC News: Tesla Vehicle Deliveries Slip in Q2
Technical indicators were in a really good spot at market close on Friday: 4-days of positive Heikin Ashi charts, MACD positive, MACD averages “pinching”, indication the possible start of a longer breakout on the upside. But the possible bullish breakout could be stopped by the market reaction to what is effectively a “miss” of guidance for the year, more than the smaller numbers for the quarter.
Will Wall Street traders shrug off the Q2 negative results like they did with Q1?
Source: Wall Street I/O
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SpaceX (NASDAQ: SPCX) reported a beat in revenues and EBITDA in its first earnings call report while also minimizing losses as its business continues to gain momentum.
After its IPO in July, SpaceX saw some tough losses on Wall Street due to a major selloff after a delay in its 13th Starship test flight. The ship launched later that week and completed what was arguably the most successful IFT operation in the Starship program’s history.
Nevertheless, the company is continuing on and reported some encouraging financials while also promoting what appears to be a robust outlook moving forward in its Space, AI, and Connectivity divisions.
SpaceX to report first-ever earnings today: here’s what to expect
Earnings Results
- Revenues: $7.8 billion reported vs. $6.7 billion expected
- Adjusted EBITDA: $3.5 billion vs. $2 billion expected
- Net loss of $541 million, an improvement of $467 million from net loss of $1.0 billion
Additionally, CFO Bret Johnsen had these comments:
“2026 has been a momentous year so far, and the second quarter demonstrated the true power of SpaceX. Revenue growth accelerated across all our business segments and we delivered strong operating leverage, with significant margin expansion led by our new AI compute agreements. Our unparalleled leadership in launch, Starlink subscriber growth, new enterprise and government partnerships, and best-in-class AI infrastructure underscore our ability to drive meaningful scale and deliver attractive returns. As a newly public company, we are delighted to welcome our broad base of shareholders and bondholders. We ended the second quarter with $100 billion of cash, cash equivalents, and marketable securities, and $47.5 billion in backlog. This financial strength gives us substantial capacity to invest in Starship, Starlink Broadband and Mobile satellites, and our AI platform, while maintaining a disciplined long-term capital allocation framework.”
Space Business Highlights
SpaceX shared some of its biggest Space Business Highlights for Q2:
- Space revenues grew 55% sequentially and 29% year-over-year to $962 million, driven by a higher number of large customer launches and a favorable customer shift compared to the prior year
- Total costs and expenses for the Space segment were up by $389 million year-over-year, as we continued to accelerate R&D investments in our Starship program, which we believe will reduce the cost to orbit by 99% or more relative to the historical average, and unlock significant revenue potential across all business segments
- Leading launch provider for the world with 78 launches and 1,041 metric tons of mass to orbit deployed over the six months ended June 30, 2026, primarily allocated to Connectivity for the deployment of our Starlink constellation
- Starship V3 development continued to advance towards full and rapid reusability:
- Completed Starship V3’s first suborbital mission in May, Flight 12, which achieved a successful lift off from our new Starbase pad, a precision landing of Starship’s upper stage, and deployment of modified V2 Starlink satellites
- Subsequent to the second quarter, completed Starship Flight 13 in July, which achieved all flight objectives including deploying 20 production V3 satellites, demonstrating in-space relight of a Raptor engine, and executing the softest ever splashdown of Starship, providing critical views of an intact heatshield
SpaceX will report its earnings today at 4:30 P.M. EDT.
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Elon Musk issued a second pointed warning to SpaceX short sellers on Tuesday, just hours before the company was set to release its first quarterly earnings as a publicly traded firm. Responding to a report highlighting elevated short interest, Musk wrote on X: “I try to warn them, but they just double down …”
The comment came as data from S3 Partners showed roughly 95 percent of available SPCX shares to borrow were on loan, translating to about 34 percent short interest as a percentage of the float. The stock has traded under pressure since its record-breaking IPO in June 2026, declining significantly from early peaks.
I try to warn them, but they just double down … 🤷♂️
— Elon Musk (@elonmusk) August 4, 2026
This marks the second such message from Musk in under three weeks.
On July 17, amid post-IPO volatility, he stated: “The survival probability of firms who maintain a significant short position in SpaceX over time is very low.” At that time, SPCX had fallen roughly 30 percent from its peak above a $2.6 trillion valuation, with short sellers reportedly realizing gains of about $8.7 billion.
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Musk’s warning aligned with optimistic analyses projecting that Starship-driven cost reductions could enable a multi-trillion-dollar space economy through applications such as orbital solar power, asteroid mining, data centers, and Mars-related projects, positioning SpaceX as critical infrastructure.
SpaceX is scheduled to report second-quarter results after the market close later today, followed by a webcast. Analysts anticipate revenue near $6.9 billion, reflecting growth in Starlink, launch services, and AI-related segments. The earnings release precedes a major lockup expiration on August 6 that could free hundreds of millions of insider shares.
Musk has a long track record of confronting short sellers, particularly regarding Tesla, where he has argued that persistent bearish positions underestimate transformative technologies. Critics view his optimism as overly ambitious given near-term stock fluctuations, while supporters see temporary dips as opportunities in a longer-term expansion of the space economy.
As SpaceX opens its books to public scrutiny for the first time, the high short interest and Musk’s repeated cautions set the stage for heightened market attention on the results and management’s commentary.
Elon Musk’s space exploration company, SpaceX (NASDAQ: SPCX), is set to report its earnings for the second quarter today in what will be its first-ever earnings call since going public in July.
SpaceX is trading down roughly 25 percent from its IPO. These early stock signals are usually a bit tumultuous, and considering this is the first company actively launching rockets that is available on the stock exchange, investors might have a tendency to be a bit skittish.
However, there are going to be some details that investors will hear for the first time today on the earnings call. Here’s what to look for:
Wall Street Expectations
Revenue is expected to fall somewhere around $6.8 billion, and will be heavily driven by Starlink, which is SpaceX’s widely popular satellite internet platform that has been adopted by numerous airlines, cruise ships, and other maritime operations. It is also available for consumers at home or in their cars.
Earnings Per Share (EPS) expectations fall at a net loss of $0.23 per share. Wall Street sees this as a total net loss of roughly $1.9 billion.
EBITDA is expected to come in between $2 billion and $2.1 billion.
What Investors Want to Know
Tesla uses the Say platform to help work with both retail and institutional investors to answer relevant and quality questions that address concerns or questions that they might have.
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However, SpaceX is doing things differently, as the company launched its own Investor Relations website where these questions are being fielded. Just like the Tesla questions, they seem to be less focused on the operational tasks and overall progress of the company, and more novelty.
Here are the top five:
- Has the team thought about what possibilities there are with your mascot Asteroid? Whether it’s starting additional foundations for kids in its name, helping kids learn about space, etc. Kids are our future, and Asteroid would be a fun and easy way to help.
- Baby Asteroid is already making a difference through charity around the world. Could SpaceX take it even further with programs that inspire kids to explore space?
- SpaceX has some legendary vehicle names. Would you ever allow the public to name a Starship, even knowing there is a 99% chance it becomes Shipy McShipface?
- When can we expect to see more footage of the Human Landing System?
- Will Asteroid (your mascot) go to Mars?
SpaceX will report its earnings today, August 4, at 4:30 P.M. EDT.
SpaceX reports beat in first earnings while minimizing losses
Elon Musk sends second warning to SpaceX shorts ahead of first earnings
