Since the beginning of the year, Tesla stock chart has shown a downward trend. Even the redesigned Roadster’s SpaceX-developed thrusters and airborne capabilities, unveiled on Thursday, October 15, 2026, didn’t prevent the stock from falling further. On Friday, shares dropped by 2.1%, capping off their worst weekly performance in nearly a quarter with a loss of over 7%. The stock has since recovered some of that ground.
While the Roadster’s unveiling generated attention, its impact on short-term profits is likely to remain limited. Production is planned for 2028, and its broader role seems to be generating interest in other models while attracting engineering talent. The vehicle could become one of the most discussed in Tesla's lineup, with Musk reinforcing the narrative by claiming that it would be sentient and capable of autonomously performing complex stunts.
Against this backdrop, Tesla is set to report its Q3 results on Wednesday, October 21, 2026, after market close. The subsequent call with CEO Elon Musk is expected to take place at 5:30 p.m. ET.
During the last quarter, the company delivered over 486,000 vehicles and deployed 13.7 gigawatt-hours of energy storage, providing early indicators of demand across its core businesses. Beyond these figures, Tesla reported an eightfold increase in its Austin Cybercab fleet over a 30-day period, reflecting its ongoing robotaxi expansion.
Analysts expect revenue to stand at $27.8 billion, nearly flat compared with $28.24 billion in the second quarter. Meanwhile, EPS is projected to land between 43 and 45 cents, up from 33 cents in the previous quarter, which fell short of expectations. Capital expenditure is expected to reach roughly $7.5 billion, compared with $2.3 billion in the previous year. With spending on the rise, free cash flow will be a key indicator of the company’s ability to finance its expansion.
Meanwhile, speculation about a potential Tesla-SpaceX merger has resurfaced following the Roadster demonstration. Earlier this year, Musk combined two of his businesses when SpaceX acquired xAI, reinforcing the AI narrative ahead of SpaceX market debut. According to analysts’ estimates, a Tesla-SpaceX merger could create a company valued at over $3.5 trillion. Polymarket traders currently assign a 64% probability to a deal by year-end, with Tesla’s December 3 general meeting potentially offering further clues.
With ongoing expansion, rising capital expenditure, and merger speculation in focus, Tesla’s upcoming earnings could offer insight about the company’s financial position and future direction.
This article was written in cooperation with TradingView