Rivian Narrows Earnings Guidance, Cuts Capital Spending Plans
Rivian Automotive reported second-quarter results with reduced capital spending plans for 2026 and a slight narrowing of its projected losses this year. The company now expects adjusted losses between $1.8 billion to $2 billion, down from previous guidance of $1.8 billion to $2.1 billion. Capital expenditures are also expected to be lower at $1.7 billion to $1.8 billion compared to the earlier range of $1.95 billion to $2.05 billion. Rivian reaffirmed its vehicle delivery target for 65,000 to 70,000 units in 2026 and noted improved performance from higher deliveries of electric vans and R1 vehicles during the second quarter. The company also began delivering its midsize R2 SUV and is scaling production at its Normal, Illinois plant. The reduction in capital spending was attributed to project efficiencies and timing adjustments rather than a slowdown in new technology investments such as hands-free driving systems.
Tickers: $RIVN
Topics: automotive capital expenditures electric vehicles (EVs) loss guidance