Tesla (TSLA) will report second quarter results after the closing bell on Wednesday, with the car business no longer the problem but increased cash burn a concern. Tesla is expected to report Q2 revenue of $26.21 billion, up 16% from a year ago, per Bloomberg consensus, with adjusted earnings per share estimated at $0.50 and adjusted EBITDA of $4.00 billion. The revenue jump follows a blowout delivery quarter of 480,126 units, up 25% year over year. Energy storage deployments came in at 13.5 GWh, more than 50% above the first quarter's 8.8 GWh. Catalysts include the fully ramped new Model Y, aggressive pricing, and the end of CEO Elon Musk's DOGE initiative. In the US, the expiration of the federal EV tax credit has hit hard, with Cox Automotive seeing US sales down 20%. Europe saw Greater Europe registrations up nearly 108% in May and EU registrations more than doubling. Tesla announced it would boost production at Giga Berlin, forecasting a significantly higher production volume for the 2026 financial year. However, free cash flow (FCF) is expected to be deeply negative at -$3.254 billion as capital expenditures jump to $6.7 billion for the quarter, driven by spending on Optimus humanoid robot production, AI data center build-out, and Cybercab.