Elon Musk, chief executive officer of Tesla Inc., arrives at federal court in New York, U.S. (Photographer: Natan Dvir/Bloomberg)

Tesla to Talk Up Future Potential as Market Awaits Report Card

(Bloomberg) -- Tesla Inc. investors might be eagerly awaiting the company’s first-quarter results, but the electric-vehicle maker is looking further into the future.

The company is hosting an investor day on Monday, expected to focus on the progress of its technology for self-driven vehicles. Later in the week, Tesla will report quarterly earnings, estimates for which have been pared back significantly. After Tesla reported disappointing delivery figures earlier this month, the average analyst estimate has fallen to a loss of 90 cents a share from an estimated profit of 37 cents a share a month ago, according to Bloomberg data. Shares are down more than 2 percent in pre-market trading.

Tesla to Talk Up Future Potential as Market Awaits Report Card

“Expectations for the Autonomy investor day are low, though we think the event could increase investor focus on the technology,” Robert W Baird analyst Ben Kallo wrote in a note to clients on April 17. “Our valuation framework does not include any value from the Tesla Network, which we think could become an area of focus as the company continues to develop the technology.”

The Tesla Network, as envisioned by Elon Musk, is a shared fleet of self-driven cars that would allow owners to put their cars to work when they are not using them.

While details are still fairly sketchy, some analysts are more enthusiastic about the opportunity than others. “Tesla’s ability to aggregate data from its growing fleet, as well as the potential of the ‘Tesla Network,’ is generally underappreciated,” Consumer Edge analyst Derek Glynn wrote in a note April 4.

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