Tesla reports its third-quarter 2026 financial results tomorrow, October 21, after the market closes. The earnings call follows at 5:30 p.m. ET.

Wall Street expects revenue to come in flat and earnings per share to drop 10% from a year ago, even though Tesla just beat its own delivery consensus by more than 24,000 vehicles.

Tesla Q3 2026 deliveries and energy deployment

We already have the volume numbers. Tesla delivered 486,532 vehicles in Q3 , down 2.1% from its all-time record of 497,099 in Q3 2025, but well above the 461,974 consensus Tesla compiled from 24 analysts.

It built only 464,391 vehicles during the quarter. So Tesla delivered 22,141 more cars than it produced, the second quarter in a row it has worked down inventory after building roughly 50,000 excess vehicles in Q1.

It’s still a two-car company.…