Rivian (RIVN) stock surged after it reported third quarter results that beat estimates after the bell on Tuesday, as the pure-play electric vehicle maker navigates the loss of federal electric vehicle tax credits and builds toward its future with its midsize SUV.
For the quarter, Rivian reported revenue of $1.55 billion vs. $1.49 billion, per Bloomberg consensus estimates, representing a 78% increase compared to the same period a year ago, as a pull-forward in deliveries boosted sales.
Rivian stock spiked 14% in early trading on Wednesday.
Rivian posted a loss per share of $0.65 vs. $0.71 estimated, with an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of $602 million, vs. $570.7 million estimated.
Rivian also reported gross profit of $24 million, snapping last quarter’s loss after two consecutive quarters of gross profit for the automaker.
The company also maintained its full-year loss projection, as trade wars and the loss of EV tax credits continued to be complicating factors. Rivian reiterated an adjusted 2025 full-year EBITDA loss in a range of $2 billion to $2.25 billion, with capital expenditures of $1.8 billion to $1.9 billion.
“In Q3, we continued to make significant progress across our strategic priorities which includes R2 and our technology roadmap,” CEO RJ Scaringe said in a statement. “We continue to believe that Rivian’s vertically integrated technologies and direct-to-customer ownership experience position our company to build a category-defining brand with a strong product portfolio for the U.S. and European markets.”
Earlier this month, Rivian said it produced 10,720 vehicles and delivered 13,201 vehicles in Q3, in line with what was expected to be a strong quarter. Rivian maintained its 2025 delivery guidance range of 41,500 to 43,500 vehicles, which was narrowed from a prior range of 40,000 to 46,000 vehicles. Rivian’s original 2025 delivery target was between 46,000 and 51,000.
Key to boosting Rivian’s sales is the development of the company’s upcoming R2 midsize crossover, which the company says is on track for release in the first half of 2026.
“All shops have started equipment bring-up with all lines of the R2 body shop fully installed and powered on for robot commissioning. Rivian expects to begin manufacturing validation builds at year end,” the company said, adding that its paint shop upgrades enabled an increase in capacity to 215,000 units a year.
Analysts welcomed the news on R2 development.
“We remain positive in the long-term RIVN vision that is amid a massive transformation by preparing to ramp its R2 and midsize platform supply chains with improving autonomous capabilities which is gaining traction across its customer base while navigating significant macro headwinds impacting the EV landscape,” Wedbush’s Dan Ives said in a note to clients.
finance.yahoo.com
#Rivian #stock #surges #beat #midsize #SUV #track
