Tesla (TSLA) Q2 FY26 earnings call

Earnings call· Jun 2026 (Q2 FY26)· Consumer Discretionary· Jul 22, 2026

Source: earnings call transcript

Tesla delivered record Q2 results, driven by strong Model Y demand and increasing FSD adoption, leading to the largest order backlog since 2023. The company is in a massive investment cycle, significantly increasing CapEx for AI, robotics, and manufacturing expansion, which impacted free cash flow and margins. Management expressed high confidence in the long-term returns from these strategic bets, particularly in Optimus, Cybercab, and AI chip development, despite near-term supply chain and regulatory challenges.

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TSLA operating KPIs by quarter

TSLA operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Mar 2026 Q1 FY26	This call Jun 2026 Q2 FY26	Sep 2026 Q3 FY26	Change vs prior quarter
Energy storage deployed	8.8 GWh In Q1, we deployed 6 -- 8.8 gigawatt hour of energy storage, a 38% sequential decline. Source: earnings call transcript	13.5 GWh In Q2, we deployed 13.5 gigawatt hour of energy storage, a 53% sequential increase and the second largest quarter for energy business. Source: earnings call transcript	13.7 GWh On the energy business, we had our second best quarter of deployments of 13.7 gigawatt hour of energy storage. Source: earnings call transcript	+1.5%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.