It seems Tesla CEO Elon Musk is again to grinding at work.
The electrical car maker’s buyers shall be glad to listen to it. They are going to be seeking to hear extra from Musk this coming week, when Tesla reviews second-quarter outcomes on July 23.
“Again to working 7 days per week and sleeping within the workplace if my little youngsters are away,” tweeted Musk on Saturday.
The previous few months have been a whirlwind for Musk, who went from publicly endorsing President Donald Trump’s candidacy, to working for the president in a controversial job slashing the federal authorities, to leaving that put up and feuding publicly with Trump on social media.
(Musk has additionally threatened to kind a brand new political social gathering.)
Tesla inventory was about $250 a share when Musk endorsed Trump in July 2024. Shares hit a document excessive of $488.54 shortly after the inauguration, with buyers euphoric that the Trump-Musk relationship would profit Musk’s firms. However then issues reversed. Tesla inventory traded under $215 in April amid peak-tariff fears and falling gross sales for Tesla.
Tesla bought simply 721,000 automobiles within the first half of the 12 months, down 13% from the identical time a 12 months in the past, stirring fears that Musk’s politics have been turning off core Tesla patrons—politically left-leaning individuals seeking to go inexperienced. In the beginning of 2025, Wall Road anticipated car gross sales of nearer to 970,000 within the first half, based on FactSet.
For the second quarter, Tesla bought about 384,000 automobiles, consistent with decreased expectations. Wall Road is now on the lookout for earnings of about 40 cents a share, down from about 50 cents within the second quarter of 2024.
If earnings fall once more, it will likely be the sixth quarterly decline prior to now eight quarters. Nonetheless, Tesla inventory trades for nearly 180 occasions estimated 2025 earnings.
A lot of that a number of comes right down to Musk. Traders imagine he’ll usher in a brand new wave of earnings progress via innovation in synthetic intelligence. Tesla launched its AI-trained robo-taxis in Austin, Texas in June.
On Wednesday, buyers shall be on the lookout for an replace about robo-taxis and AI-trained robots, which Tesla intends to start out promoting in important volumes in 2026.
Traders will even be on the lookout for plans to show round automobile gross sales, which may embody a promised lower-priced mannequin, which has been coming for some time. Tesla administration reiterated their dedication to lower-priced automobiles on the primary quarter convention name, however nobody has seen the car but.
Most vital, buyers need to hear that Musk is totally engaged at Tesla and can keep that means for the foreseeable future.
Coming into Monday buying and selling, Tesla inventory was down about 18% up to now this 12 months, however up about 38% over the previous 12 months.
Write to Al Root at allen.root@dowjones.com