Tesla is scheduled to report first-quarter earnings for 2023 after the shut of buying and selling on Wednesday.

Here is what analysts expect:

• Earnings per share: $0.85, based on the typical analyst estimate compiled by Refintiv
• Income: $23.21 billion, based on Refinitiv estimates

Tesla’s first-quarter earnings name will likely be livestreamed by way of Twitter Areas, a primary for the electrical automobile maker. CEO Elon Musk offered billions of {dollars} value of his Tesla holdings in 2022 to finance a $44 billion buyout of the social media firm, the place he’s now additionally CEO.

Analysts are carefully watching Tesla’s automotive gross margins after the corporate minimize costs on its automobiles on the finish of final 12 months and into the primary quarter of 2023, together with extra cuts Tuesday evening. On the similar time, Tesla is charting formidable plans for growth and elevated capital expenditures.

Income within the quarter possible elevated 24% from $18.76 billion a 12 months earlier, based on Refinitiv estimates.

Tesla at present sells 4 EV fashions, that are produced at two automobile meeting vegetation within the U.S., one in Shanghai and one other exterior of Berlin.

Shareholders who submitted questions forward of the earnings name for administration’s consideration had been looking for updates on the corporate’s trapezoidal, sci-fi impressed Cybertruck, the corporate’s power division, and the timing for a brand new mannequin automobile from Tesla.

In early April, Tesla reported automobile deliveries of 422,875 automobiles within the first quarter, the closest approximation of gross sales disclosed by the corporate. Manufacturing was barely greater than deliveries for the primary three months of 2023 at 440,808 automobiles.

A month earlier, Musk introduced plans to construct a Tesla manufacturing unit in Monterrey, Mexico, a day’s drive from a comparatively new manufacturing unit in Austin, Texas. And extra lately, Tesla stated it plans to arrange a manufacturing unit to make Megapacks, or giant lithium ion battery-based power storage methods, in Shanghai.

In keeping with a monetary submitting revealed in late January, Tesla anticipated to spend between $7 billion and $9 billion in 2024 and 2025, a rise in capital expenditures of about $1 billion within the subsequent two years.

Tesla shares have rebounded this 12 months from a dismal 2022, after they misplaced about two-thirds of their worth alongside a plunge in tech firms. The inventory is up 48% in 2023.

WATCH: CFRA’s Garrett Nelson bullish on long-term earnings development for Tesla