RIVN Earnings Prediction
The chart below shows how RIVN performed 10 days before and after its earnings report, based on data from the past quarters. Typically, RIVN sees a +5.52% change in stock price 10 days leading up to the earnings, and a -7.64% change 10 days following the report. On the earnings day itself, the stock moves by -1.19%. This data can give you a slight idea of what to expect for the next quarter's release.
RIVN Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
874.00M
-34.63%
-24.53%
Gross Margin
-54.35%
24.63%
14.86%
Operating Margin
-143.25%
23.89%
12.69%
Net Margin
-125.86%
23.10%
0.03%
EPS
-1.08
-25.00%
-30.32%
No Data Available
RIVN Earnings Analysis
Rivian Automotive, Inc. Class A Common Stock Corporation (RIVN.O) Earnings Conference Call
Positive
Vehicle Production and Revenue: During the third quarter of 2024, we produced 13,157 vehicles and delivered 10,018 vehicles, which represented the primary driver of the $874 million of revenue we generated.
Operating Expenses Decline: Our GAAP operating expenses in the third quarter were $777 million, which is the lowest level we've had in three years and a reflection of the cost savings initiatives we've put in place.
Production Guidance Reaffirmed: We are reaffirming our annual production guidance of 47,000 to 49,000 vehicles, indicating strong operational performance and growth expectations.
Regulatory Credits Sales Outlook: We expect to see a total of approximately $300 million of regulatory credits sales in 2024, which will contribute positively to our revenue.
Partnership Advancements in Technology: We are excited about our partnership with Volkswagen, which is expected to drive significant advancements in our technology and operational efficiency.
Negative
Negative Gross Profit: Total gross profit was negative $392 million.
Vehicle Delivery Loss Analysis: Gross loss per vehicle delivered was approximately $39,100, including $18,600 of depreciation and amortization expense.
Cost Efficiency Initiatives: We incurred approximately $3,700 per vehicle delivered related to our cost of revenue efficiency initiatives, which we do not anticipate being part of our long-term normalized cost structure.
R1 Vehicle Demand Decline: Demand for R1 vehicles was negatively impacted in the third quarter of 2024 by the production disruption and challenging consumer backdrop.
Modest Gross Profit Outlook: We expect to see a modest GAAP gross profit in the fourth quarter of 2024, supported by three key drivers, but overall, we are still facing challenges.
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RIVN Earning Call Sentiment
Rivian Automotive, Inc. (RIVN) Q3 2024 Earnings Call Transcript
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RIVN.O
0.63%Positive
The earnings call revealed a negative financial performance with a significant gross loss per vehicle and a revised adjusted EBITDA loss guidance, highlighting ongoing financial challenges. The absence of a shareholder return plan and concerns about joint venture risks further dampen sentiment. Although there are positive aspects like regulatory credit sales and cost reduction initiatives, the overall outlook remains negative due to the challenging consumer backdrop, production disruptions, and economic factors impacting demand.