Tesla (NASDAQ: TSLA) Earnings Preview and SpaceX Merger Talks

• Tesla (NASDAQ: TSLA) will report its third-quarter 2026 results after the market closes on October 21.
• Analysts expect non-GAAP earnings of $0.45 per share and revenue of approximately $28.34 billion.
• Tesla and SpaceX have formed independent committees to consider a possible merger, although no terms or agreement have been reached.

Tesla (NASDAQ: TSLA), an electric-vehicle, energy-storage and artificial-intelligence company, is scheduled to release its results after Wednesday's market close. Its earnings webcast begins at 5:30 p.m. Eastern time.

Tesla's company-compiled analyst consensus forecasts GAAP earnings of $0.23 per share, non-GAAP earnings of $0.45 per share and revenue of $28.34 billion. Analysts also project a gross margin of 17.9% and an operating margin of 2.5%.

Free cash flow is expected to be negative $4.51 billion, reflecting projected capital expenditures of approximately $7.77 billion. Investors will therefore focus on whether Tesla's automotive and energy businesses can finance its expanding AI, robotics and manufacturing investments.

Tesla and SpaceX (NASDAQ: SPCX) have formed special committees of independent directors to explore a possible combination. Elon Musk supports the idea but is not participating in the committees because of his interests in both companies. No transaction terms have been agreed upon, and a merger is not guaranteed.

Tesla shares rose more than 3% ahead of the earnings release, with the merger discussions contributing to investor interest. However, the company's upcoming financial results remain an important potential driver of the stock.