Tesla (TSLA) Q3 earnings preview: what to expect from its record quarter
Tesla (TSLA) will release its Q3 2025 financial results on Wednesday, October 22, after the market closes. As usual, a conference call and Q&A with Tesla’s management are scheduled after the results.
Here, we’ll look at what the street and retail investors expect for the quarterly results.
Tesla Q3 2025 deliveries and energy deployment
Even though CEO Elon Musk and his loyal shareholders like to claim that Tesla is now an AI/Robotics company, the reality is that Tesla mostly moves metals.
The company’s automotive business continues to drive the vast majority of its financial performance.
Tesla’s revenue remains tied mainly to the number of vehicles it delivers.
Earlier this month, Tesla disclosed its Q3 2025 vehicle production and deliveries:
| Production | Deliveries | Subject to operating lease accounting | |
| Model 3/Y | 435,826 | 481,166 | 2% |
| Other Models | 11,624 | 15,933 | 7% |
| Total | 447,450 | 497,099 | 2% |
That’s a record number of vehicles delivered.
Furthermore, Tesla confirmed that it deployed 12.5 GWh of energy storage capacity during the quarter.
Those two record numbers combined should result in Tesla reporting higher revenues.
Tesla Q3 2025 revenue
For revenue, analysts generally have a pretty good idea of what to expect, thanks to the delivery numbers and now the energy storage deployment data.
The Wall Street consensus for this quarter is $26.457 billion, and Estimize, the financial estimate crowdsourcing website, predicts a lower revenue of $26.266 billion.
Here are the predictions for Tesla’s revenue over the past two years, with Estimize predictions in blue, Wall Street consensus in gray, and actual results are in green:
If Tesla meets or beats expectations, it would report higher quarter revenue than ever before.
Tesla Q3 2025 earnings
Analysts are trying to estimate Tesla’s gross margin with a first positive reversal in deliveries this year.
For Q3 2025, the Wall Street consensus is a gain of $0.55 per share and Estimize’s crowdsourced prediction is a little higher at $0.57.
Here are the earnings per share over the last two years, where Estimize predictions are in blue, Wall Street consensus is in gray, and actual results are in green:
As you can see, Tesla’s estimated record revenue is not expected to translate into record earnings, as the company has reduced prices in response to increased competition.
Tesla reported earnings of $072 per share during the same period last year.
In short, analysts are expecting Tesla’s earnings downtrend to continue despite record revenues.
Other expectations for the TSLA shareholder’s letter, analyst call, and special ‘company update’
I think we should expect a very bullish management call in Q3. We have been reporting on this for a few months on Electrek, but Tesla pushed its shareholders meeting, which is generally held in the summer, to the first week of November for good reason.
Tesla knew that the end of the tax credit would result in demand being pulled forward into Q3, leading to a strong Q3. Even though it will mean a few very difficult quarters afterward, the company will take the time to boast about it just before shareholders vote on management through Musk’s compensation package and a few board seats in two weeks.
However, I would also expect Wall Street analysts to ask a few questions about how Tesla is expected to perform in the next few quarters, given the incentives and credits in the US.
Tesla will also take questions from retail shareholders based on the most popular ones on Say. Here are the top 5 questions and my thoughts on them:
- What are the latest Robotaxi metrics (fleet size, cumulative miles, rides completed, intervention rates), and when will safety drivers be removed? What are the obstacles still preventing unsupervised FSD from being deployed to customer vehicles?
- Musk has been wrong about self-driving timelines for a decade now, and he manages to get away with it thanks to a very lenient shareholder base that likes it when he pumps up the stock with hyperbole and crazy predictions.
However, the shorter the timeline, the harder it is to let this slide. Musk said that Tesla Robotaxi would cover half the US, and it would remove supervisors by the end of the year.
The only way this is possible is if “Robotaxi” is what Tesla launched in the Bay Area, meaning Tesla employees in the driver’s seat using FSD. If Tesla does remove the supervisor, I believe it will only be in Austin and with a lot of limitations and remote monitoring.
- Musk has been wrong about self-driving timelines for a decade now, and he manages to get away with it thanks to a very lenient shareholder base that likes it when he pumps up the stock with hyperbole and crazy predictions.
- What is demand / backlog for Megapack, Powerwall, Solar, or energy storage systems? With the current AI boom, is Tesla planning to supply power to other hyperscalers?
- I think people should expect Tesla’s growth in the energy sector to slow and stabilize at around 18 GWh next year, which is still impressive, by the way.
- What are the plans for new car models? Will Tesla build compact car models leveraging the unboxed Cybercab platform? Will Tesla build a traditional SUV and pickup truck in the Cybertruck platform?
- Generally, Tesla doesn’t answer those kind of questions during an earnings call, but I think management will try to pump the best they can ahead of the shareholders meeting.
Furthermore, after the flop that was the stripped-down Model Y and Model 3, I wouldn’t be shocked if Tesla revives plan for the compact car even though Musk poo-pooed it quite a bit over the last year.
- Generally, Tesla doesn’t answer those kind of questions during an earnings call, but I think management will try to pump the best they can ahead of the shareholders meeting.
- What are the present challenges in bringing Optimus to market considering app control software, engineering hardware, training general mobility models, training task specific models, training voice models, implementing manufacturing, and establishing supply chains?
- As we have been reporting for the last few months, the Optimus program is in shambles. I expect Musk to confirm delays in the production ramp. He previously said that Tesla would build about 5,000 Optimus robots in 2025. I think he will delay that, but he will reiterate some ridiculous long-term goals.
- What is your projection for when FSD will allow for unsupervised driving?
- He literally said by the end of the year a few months ago. He said that every year for the last 6 years. I don’t know why anyone cares to have his opinion on it at this point.
As you can see, most questions from retail investors concern Tesla’s future products and Elon’s predictions about their impact.
Meanwhile, earnings are declining because Tesla’s once-incredible core business of selling cars is rapidly deteriorating.
Tune in with Electrek after market close today to get all the latest news from Tesla’s earnings, conference call, and now also an apparent “company update.”
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Electricity demand is surging in Texas, and solar, wind, and battery storage are meeting it.
According to new data from the US Energy Information Administration (EIA), electricity demand across the Texas grid managed by the Electric Reliability Council of Texas (ERCOT) hit record highs in the first nine months of 2025. ERCOT, which supplies power to about 90% of the state, saw demand jump 5% year-over-year to 372 terawatt hours (TWh) – a 23% increase since 2021. No other major US grid has grown faster over the past year.
Solar and wind keep ERCOT’s grid steady
The biggest growth story in Texas power generation is solar. Utility-scale solar plants produced 45 TWh from January through September, up 50% from 2024 and nearly four times what they generated in 2021 (11 TWh). Wind power also continued to climb, producing 87 TWh through September – a 4% increase from last year and 36% more than in 2021.
Together, wind and solar supplied 36% of ERCOT’s total electricity over those nine months. Solar, in particular, has transformed Texas’s daytime energy mix. From June to September, ERCOT solar farms generated an average of 24 gigawatts (GW) between noon and 1 pm – double the midday output from 2023. That growth has pushed down natural gas use at midday from 50% of the mix in 2023 to 37% this year.
Battery storage is filling in the gaps
Batteries charge during the day when wind and solar generation are the highest, and they produce electricity when generation from wind and solar slows down. ERCOT began reporting battery output separately in October 2024 in its hourly grid data, and it’s clear that batteries are now helping to smooth out evening peaks. This past summer, batteries supplied an average of 4 GW of power around 8 pm, right as solar production dropped off.
Natural gas is flatlining
Natural gas is still Texas’s dominant power source, but it isn’t growing like it used to. Between January and September, gas-fired plants generated 158 TWh of electricity, compared to 161 TWh in 2023. Gas comprised 43% of ERCOT’s generation mix during the first nine months of 2025, down from 47% in the first nine months of 2023 and 2024.
More demand growth ahead
The EIA expects Texas electricity demand to keep rising faster than any other grid in the US. In its latest Short-Term Energy Outlook, the EIA projects ERCOT’s demand will climb another 14% in the first nine months of 2026, reaching 425 TWh. That means Texas will need even more solar, wind, and battery storage to keep up with its breakneck growth.
Read more: This $900 million solar farm in Texas is going 100% to data centers
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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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GM is recalling nearly 23,000 Chevy Equinox EV and Cadillac Optiq models due to a defect where the tire tread could fall off.
GM is recalling more Chevy Equinox EV models
In a letter sent to the National Highway Traffic Safety Administration (NHTSA), GM said it has decided to issue a safety recall for certain Chevy Equinox EV and Cadillac Optiq models from model years 2025 to 2026.
This time, it isn’t necessarily GM’s fault. The vehicles may be equipped with 21″ all-season tires that Continental Tire is recalling.
According to Continental, the tires were produced during the week of October 6, 2024, and may have a defect where the tire tread could partially or fully detach. The records show the defect is due to a nonconforming tread base rubber compound.
Owners of affected vehicles may notice unusual tread wear or bulging, vibration while driving, or tire noises. GM is unaware of any incidents related to the defect, but is issuing the recall out of an abundance of caution.
On September 18, 2025, GM inspected the assembly plant and confirmed there were no suspect tires in stock. The 21″ tires come standard on RS trims and are optional on LT1 and LT2 grades.
Although GM is recalling 22,914 Chevy Equinox EVs and Cadillac Optiqs, it estimates that only about 1% of them have the defect.
The recall includes:
- 2026 Cadillac Optiq: 214
- 2026 Chevy Equinox EV: 1,832
- 2025 Cadillac Optiq: 3,468
- 2025 Chevy Equinox EV: 17,400
GM dealers will check all four tires and replace them if needed, free of charge. Dealers were notified on October 16. Owner notification letters are expected to be mailed out on December 1, 2025.
You can contact Chevrolet’s customer service number at 1-800-222-1020 or Cadillac’s at 1-800-333-4223. GM’s recall number is N252525030. Owners can also call the NHTSA hotline at 1-888-327-4236 or visit the nhtsa.gov website for more information.
The Chevy Equinox EV is now the third best-selling EV in the US, trailing only the Tesla Model Y and Model 3. Meanwhile, Cadillac’s entry-level Optiq SUV is the fifth-most-popular luxury EV. The recall is minor and only affects a small percentage of models, so it’s not expected to have a major impact.
If you want to test one of them for yourself, we can help you get started. Check out our links below to find available Chevy Equinox EV and Cadillac Optiq models near you.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Tesla’s earnings madness, Rivian layoffs, Ford pausing F-150 Lightning, and more.
The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:
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