Tesla Sets 2026 Capex Outlook at $20 Billion After Q3 Cash Flow Beat

Tesla posted third-quarter free cash flow of $1.5 billion, significantly beating analyst expectations of a $3.8 billion cash outflow. Quarterly capital expenditures came in at $4.7 billion against a projected $7.9 billion, prompting management to set full-year 2026 capex guidance at approximately $20 billion, down from an earlier projection exceeding $25 billion. For the quarter, Tesla generated $28.05 billion in revenue and adjusted earnings per share of $0.48. The company maintains nearly $36 billion in net cash alongside $30 billion in secured borrowing capacity to support its autonomy, compute, and robotics initiatives.