2 Earnings Reports Elon Musk Is Watching Closely: Solar City And Tesla
Entrepreneur, innovator and magnate Elon Musk is the chairman of SolarCity Corp (NASDAQ: SCTY) and CEO of Tesla Motors Inc (NASDAQ: TSLA). As it turns out, both companies are set to report their latest quarterly earnings this week.
While Wall Street analysts are looking for strong top-line growth from both the solar power company and the electric vehicle maker, one is forecast to post a deeper net loss for the most recent quarter and the other to have swung into the black.
Below is a closer look at what is expected from the reports of SolarCity and Tesla. That is followed by a quick peek at some of the week's other most anticipated earnings.
SolarCity
When it reports Tuesday afternoon, this solar energy systems maker is expected to say that fourth-quarter earnings per share (EPS) came to -$2.59, according to 57 Estimize respondents and to 16 Wall Street analysts. That compares to the per-share net losses of $2.41 in the previous quarter and $1.33 in the fourth quarter of 2014.
The Estimize consensus sees revenue totaling $105.61 million for the three months that ended in December, about the same as Wall Street predicts. That would be up around 47 percent from a year ago. Top-line estimates from both have underestimated actual revenue in the past three quarters.
quarter.
See also: Cisco, Alcatel And Nokia: Who Can Beat Earnings Expectations?
Tesla
Wall Street's fourth-quarter forecast calls for EPS to have swung from -$0.13 in the year ago period to a profit of $0.09, though that estimate has ticked down a penny in the past 60 days. The consensus of 193 Estimize respondents sees EPS of only $0.04 for the three months that ended in December.
Revenue narrowly topped consensus estimates in the previous two periods. This time, Estimize is looking for about $1.79 billion, in line with what Wall Street expects. That would be more than 63 percent higher than year-ago revenue. Tesla is scheduled to report after Thursday's closing bell.
And Others
CBS, CVS Health, Goodyear Tire, Hasbro, Pandora Media, Tesla Motors, Time Warner and Walt Disney are among the companies that Wall Street analysts expect to show earnings growth this week.
Consensus forecasts have quarterly EPS from Twitter and Zynga the same as in the year-ago period.
Earnings declines are in the works for Activision Blizzard, Avon Products, Coca-Cola, Groupon, Kellogg, Molson Coors, PepsiCo, Pilgrim's Pride, Twenty-First Century Fox, Viacom and Whole Foods, if the consensus forecasts are correct.
At the time of this writing, the author had no position in the mentioned equities.
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