Tesla Q1 2026 Earnings: Megapack Deployments Fall to 8.8 GWh on Quarterly Timing

Tesla reported Q1 2026 earnings on April 24, disclosing that energy storage deployments fell to 8.8 GWh — down approximately 35% from the 14+ GWh deployed in Q4 2025 — while still generating roughly $2.4 billion in revenue with approximately 40% gross margins in the energy division. Management attributed the decline to inherent quarterly timing variability ('clumpiness') in large utility-scale battery contracts and reaffirmed its full-year target would exceed 2025's total of 46.9 GWh. Tesla confirmed the Megapack 3 factory in Lathrop, Texas — producing larger ~5 MWh units at a nameplate 50 GWh/year — remains on track to open in 2026. The energy storage division's gross margin continues to outperform Tesla's automotive segment, representing a growing profit center independent of EV sales cycles.