Tesla's Earnings Setup Just Changed

The article argues Tesla’s earnings setup has improved materially ahead of the next report. It cites strong vehicle delivery momentum, with 480,126 deliveries beating consensus by 18% and running ahead of production, suggesting inventory is being reduced. The author says Tesla has also posted consecutive EPS and revenue surprises, including a 17.15% Q1 EPS beat, and that analysts have lifted estimates: Q2 EPS is up 8.89% and revenue expectations have risen 4.8% over the past month. Longer term, consensus still expects newer vehicle deliveries to expand sharply by FY30, helping Tesla shift to a higher-margin mix. However, the piece flags key risks, especially robotaxi execution, regulatory scrutiny, and a wide dispersion in earnings estimates, which could challenge Tesla’s valuation if momentum fades.