It’s no secret that Tesla has had a rough start to the year, but the company’s earnings report and presentation on Tuesday will offer a clearer picture of its financial performance.
There could also be some important announcements and updates to its product roadmap.
Ahead of the highly anticipated earnings release, Tesla fans have pointed to a shift in the company’s usual mention of the follow-up earnings call with analysts to discuss the earnings results. In this year’s press release, Tesla mentions there will be a “company update.” While it may turn out to be just another way to describe an earnings call, the wording change has sparked speculation that something bigger could be in the works.
Tesla has leaned into that mystery. When a prominent Tesla fan asked his followers for their thoughts on the wording, Tesla’s official X account replied that it “secretly” enjoyed “reading the theories y’all are coming up with.”
Either way, Tesla’s earnings presentation will be closely followed by Wall Street as it arrives at a turbulent time for Elon Musk and the automaker, which has some important launches planned for this year.
Here’s what Wall Street and Tesla fans will be keeping an eye out for.
1. The impact of the Elon Musk backlash on Tesla’s bottom line
We already know Tesla’s deliveries for the first quarter were worse than analysts anticipated — but Tuesday’s report will provide more detail.
Over the last few months, a growing Tesla boycott movement has sparked hundreds of protests across the country and applied pressure on owners to dump their vehicles and stock. It’s also led to a series of vandalism incidents involving arson, gunfire, and graffiti.
While some analysts initially said they didn’t see protests largely affecting buying decisions, Tesla’s global sales have declined since the start of the year in several markets, including in multiple European countries and China.
As the movement continues, investors and fans will listen for insight into how much it’s affecting its revenue and profit, and sales of products like the Cybertruck, which has become a frequent target of harassment and vandalism.
2. A possible end date for Elon Musk’s DOGE work
As the company continues to face backlash over Musk’s political work with the Trump administration, investors are increasingly putting pressure on the Tesla CEO to step down from his government role.
Wedbush Securities analyst and Tesla bull Dan Ives said in a note on Sunday that the EV giant faces a “code-red situation” if Musk continues his government work. Ives also raised concerns last month when Tesla’s stock price plunged following declining sales and a series of protests.
The temporary government effort had plans to complete its work by July 4, 2026, but Politico reported that Trump has told his close circle that Musk plans to leave his role shortly (the White House later denied the report).
While longtime Tesla investor Ross Gerber has said that “the damage is done” from Musk’s involvement with DOGE without a clear way to repair the brand’s perception, Barclays analyst Dan Levy wrote in a note on Thursday that Musk stepping away from DOGE would be a “key positive.”
“This is especially the case given the elevated importance of AI/
autonomous/bots to the Tesla thesis, with Elon Musk quite central to the narrative,” Levy said in the note.
3. An update on a ‘more affordable’ Tesla
Tesla’s highly anticipated lower-cost EV will be another hot topic to watch out for. Tesla previously said production of a “more affordable” vehicle, which reports have suggested could be a stripped-down Model Y, was on track to begin production in the first half of the year, which would mean the end of June at the latest. However, production of Tesla’s cheaper model is now being pushed back to 2026, Reuters reported on Friday.
The sub $30,000 vehicle would likely help drive sales for the automaker, which has faced pricing competition with rivals in China, and also seen the impacts of slowing EV adoption. Analysts have said the June deadline was a key one for Tesla to hit.
4. Robotaxi service rollout in Austin
Uncertainty surrounding Tesla’s lower-cost EV adds to the pressure of Tesla’s other big expected launch this year — the rollout of its robotaxi service, which also has a June deadline.
Musk said during Tesla’s fourth-quarter earnings call that the company had plans to launch a paid robotaxi service in Austin in June. Musk said that after testing the waters in Austin and making sure everything runs smoothly, the company has plans to launch in California by the end of the year, and “everywhere in North America next year.”
While the robotaxi rollout doesn’t help the company solve the issue of its aging car lineup, it’s an important step forward in the company’s push for an autonomous ride-hailing service, which is been a pillar of the company’s focus.
“Tesla’s planned launch of unsupervised/driverless FSD in Austin in June could drive incremental excitement, and we could see interest in Tesla building into the event — even if it’s unclear how Tesla will monetize on this front,” Barclays analyst Dan Levy wrote in a note on Thursday.
5. Optimus humanoid robot
Musk has said Tesla’s humanoid Optimus robots are the company’s most valuable asset. While Musk didn’t have certainty on a timeline for Optimus in the company’s fourth-quarter earnings call, he said during a surprise all-hands staff meeting last month that Tesla hopes to produce around 5,000 Optimus robots this year.
Musk added that Tesla is aiming to have enough parts to produce 10,000 or 12,000 robots. As a new product, he said he feels like it would be a success if Tesla could achieve half that number.
6. Impact of Trump tariffs
Tesla CFO Vaibhav Taneja said in the company’s last earnings call that, if implemented, tariffs would impact the automaker’s business and profitability. The CFO said that although the company has tried to localize its supply chain, it’s still “very reliant on parts from across the world” for all of its businesses.
While Tesla has global assembly plants, such as in Germany and China, its vehicles sold in the US are made in California and Texas. That places Tesla in a better position than rivals like Ford and GM.
That doesn’t mean Tesla is immune to tariff impacts, though. Wedbush analyst Ives said that the enactment of 25% auto tariffs is “delaying future lower cost models for Tesla.” Investors will be looking for more clarity on what that means for the company and its product line.
