Tesla deliveries report preview: Shanghai shutdown hangs heavy, watch for 250K
Justin Sullivan/Getty Images News

Tesla (NASDAQ:TSLA) could announce its Q2 deliveries tally on Friday or sometime during the weekend.
The report is not expected to stun due to the impact of the Gigafactory Shanghai shutdown. Wedbush Securities said the line in the sand for deliveries is roughly 250K globally with anything above 260K viewed positively by the Street. Citi came in yesterday with an updated estimate of 258.5K deliveries for the quarter, while Deutsche Bank only expects 245K deliveries and Mizuho Securities sees 232K. All the forecasts are for Tesla (TSLA) to go in reverse after delivering a record 310K vehicles in Q1.
If Tesla (TSLA) can top the 250K deliveries mark, investors may turn positive again. Shares of TSLA have outperformed the market following the deliveries release until earnings were reported in seven of the past ten quarters that Tesla beat expectations.
The major focus from investors may be on the pace of production coming out of Q2 and the implications for the second half.
"When factoring in this shutdown dynamic and the Rubik's Cube logistical dynamics of getting Model Ys to customers in China/Europe, we believe the Street will be laser focused on the month of June trajectory globally and what that could mean for 2H numbers," noted analyst Dan Ives (Outperform rating, price target $1,000).
At the beginning of the year, some analysts thought Tesla (TSLA) could deliver 1.7M vehicles in 2022, but those expectations have been reeled back to around 1.4M due to the Shanghai COVID overhang and the first worries of a recession effect. Mizuho Securities recently lowered its 2022 deliveries estimate to 1.25M.
Shares of Tesla (TSLA) fell 2.29% premarket to $669.25.
Dig into the quant metrics on Tesla.