SpaceX And Tesla Prepare Side By Side Earnings Reports Amid Merger Speculation

SpaceX And Tesla Prepare Side By Side Earnings Reports Amid Merger Speculation ©@Kmeel_com from pixabay via Canva, @3DSculptor from Getty Images via Canva
SpaceX And Tesla Prepare Side By Side Earnings Reports Amid Merger Speculation ©@Kmeel_com from pixabay via Canva, @3DSculptor from Getty Images via Canva

Key Stats for SpaceX Stock

  • Price change for SpaceX stock in last 1 month: -3%

  • $SPCX Stock Price as of Oct. 19: $148

  • 52-Week High: $226

  • $SPCX Stock Price Target: $223

What Happened?

SpaceX (SPCX:NASDAQ) reports Q3 results on Tuesday after markets close, and Tesla follows on Wednesday.

Investors get a rare side-by-side look at Elon Musk’s two most valuable companies, while merger talk is also growing.

Barclays said last week that a deal could come before Tesla’s annual meeting on December 3 and sees SpaceX as the more likely buyer.

Neither company nor Musk has committed to a deal. In an all-stock deal, Barclays estimates Musk would hold about 37% of the equity and 56% of the votes.

Tesla added fuel on Thursday as it unveiled a new Roadster that can jump and turn in mid-air using rocket technology at a SpaceX test site in Texas. One analyst called it a subtle argument for a merger.

For SpaceX, analysts expect revenue of about $12.74 billion, which compares with $7.8 billion in Q2. Investors want to see if heavy AI spending is turning into sales.

In Q2, AI capital spending was $15.8 billion, and Evercore ISI expects SpaceX to exit 2026 at an annualized revenue run-rate of about $104 billion. It sees capital spending of about $151 billion in 2027.

SPCX Stock Revenue, EBIT and Free Cash Flow Estimates in Billion USD (TIKR)
SPCX Stock Revenue, EBIT and Free Cash Flow Estimates in Billion USD (TIKR)

On October 8, SpaceX agreed to buy 800 MHz of spectrum from Grain Management for about $8 billion.

The deal needs FCC approval, and it supports the Starlink Mobile push.

What the Market Is Telling Us About SpaceX Stock

SpaceX stock sits above its IPO price but below its post-debut high, which tells us investors are interested but still waiting for proof.

Connectivity revenue, which includes Starlink, rose 66% to $4.3 billion in Q2.

The company added more than 1.7 million subscribers, and management also said it expects to reach $100 billion in annualized revenue by December.

The AI business is the bigger swing factor. AI revenue was $2.6 billion in Q2, and adjusted EBITDA for that segment turned positive.

Management says new compute spending pays back in less than a year. Still, SpaceX posted a net loss of $541 million in the quarter.

SPCX Stock Street Target (TIKR)
SPCX Stock Street Target (TIKR)

Tesla is expected to earn about 43 cents a share on $27.88 billion in revenue. A year ago it earned 50 cents. Its shares are down about 17% this year.

For SpaceX stock, Tuesday’s report is the next big test. Starlink growth and AI revenue will matter most. Anyone following SpaceX stock will also be watching for any hint on a Tesla deal.

So what is SpaceX stock actually worth?

TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what SPCX stock could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use.

Value SpaceX for free→

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