Rivian Beats Third-Quarter Earnings Estimates Driven by R2 SUV Production
Rivian Automotive (RIVN) outperformed Wall Street expectations for the third quarter, reporting an adjusted loss per share of 48 cents compared to an expected 62 cents. Revenue reached $2.16 billion, surpassing estimates of $1.99 billion. The company's growth was largely driven by its new R2 entry-level SUV, which has become its best-selling model and contributed significantly to a record delivery period between July and September. Looking ahead, Rivian revised its 2026 guidance upward, projecting improved vehicle deliveries and a $100 million improvement in pre-tax adjusted losses at the midpoint. While the company remains overall unprofitable, it reported narrowing net losses and significant gross profit growth. CEO RJ Scaringe noted that while the R2 is key to achieving per-unit profitability, scaling production beyond current plans will be essential for long-term financial stability.
Tickers: $RIVN
Topics: earnings beat electric vehicles guidance revision profitability revenue growth
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