This was supposed to be the year that profit became the norm at Tesla. Then came the coronavirus crisis.
Tesla recorded its first annual profit in 2019, when results were adjusted to exclude special items. It said that it expected to be profitable going forward.The coronavirus shifted those plans. The company was soon dealing with a temporary shutdown of its new factory in Shanghai because of the outbreak of the virus in China. And by March it was forced to temporarily shut its plant in Fremont, California, which supplies US and European buyers.
Investors will be looking for guidance from Tesla about what's ahead in this new reality that has changed so much since early January.Analysts are now forecasting that Tesla will report a narrow loss in the first quarter, and a larger loss in the current second quarter, before returning to profitability in the second half of the year.
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