Tesla reports third-quarter earnings after the bell on Wednesday.
The electric vehicle maker’s revenue is projected to grow from the third quarter of 2022. Net income, however, is expected to take a hit, according to analysts surveyed by FactSet.
During the third quarter, Tesla’s global deliveries increased 26.5% year-over-year. Meanwhile, the company reported below-expectation quarterly sales numbers earlier this month. Tesla said earlier this month that it was still expecting 1.8 million vehicle deliveries for the full year in 2023.
Continued price cuts for the company’s Model 3 and Model Y vehicles and the Cybertruck are expected to be of particular interest during the call with investors and analysts on Wednesday.
Tesla’s stock has surged around 125% year to date after falling sharply in 2022 alongside other growth stocks.
Get Tesla Exposure in an Electric Vehicles ETF
Investors looking to gain exposure to Tesla and other companies engaged in the production of electric vehicles and their components may consider the (KARS ).
KARS is benchmarked to the Bloomberg Electric Vehicles Index. The index includes issuers engaged in the electric vehicle production, autonomous driving, shared mobility, lithium and/or copper production, lithium-ion/lead acid batteries, hydrogen fuel cell manufacturing, and electric infrastructure businesses.
The fund invests globally, holding companies based in China, the U.S., South Korea, Australia, Japan, and Germany, among others. The fund tilts toward large caps (61%). However, it does offer exposure across the cap spectrum. Mid-cap and small-cap companies make up 35% and 3% of the fund by weight, respectively, according to ETF Database.
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