Financial News

Rivian (RIVN) Q3 Earnings: What To Expect

RIVN Cover Image

Electric vehicle manufacturer Rivian (NASDAQ: RIVN) will be reporting results this Tuesday after the bell. Here’s what investors should know.

Rivian beat analysts’ revenue expectations by 2% last quarter, reporting revenues of $1.30 billion, up 12.5% year on year. It was a softer quarter for the company, with full-year EBITDA guidance missing analysts’ expectations significantly and a significant miss of analysts’ adjusted operating income estimates.

Is Rivian a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Rivian’s revenue to grow 69.9% year on year to $1.49 billion, a reversal from the 34.6% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.71 per share.

Rivian Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Rivian has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Rivian’s peers in the automobile manufacturing segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Ford delivered year-on-year revenue growth of 9.4%, beating analysts’ expectations by 9.1%, and General Motors reported flat revenue, topping estimates by 7.9%. Ford traded up 12.4% following the results while General Motors was also up 16%.

Read our full analysis of Ford’s results here and General Motors’s results here.

Investors in the automobile manufacturing segment have had steady hands going into earnings, with share prices flat over the last month. Rivian’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $14.35 (compared to the current share price of $13.55).

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