Rivian Automotive exceeded market expectations in the first quarter of 2024 by delivering 13,588 vehicles, surpassing the estimated 11,893, despite missing initial production estimates due to a transition to new suppliers. The electric vehicle maker produced 13,980 vehicles, against an estimate of 13,800, during the period. These results were in line with Rivian's expectations, and the company has reaffirmed its guidance for an annual production target of 57,000 vehicles. Rivian's performance indicates a significant achievement, as it navigates through production challenges and supply chain adjustments, maintaining its FY’24 production guide despite a forecasted 10-15% QoQ decrease from 13,972 deliveries in 4Q. Rivian's stock was slightly down by 0.1% pre-announcement.
NEWS: Rivian announced today Q1 deliveries of 13,588 vehicles (vs estimate 11,893 set.), while production was 13,980.
$RIVN 1Q delivs 13,588 beat WS 1Q est of 11,900. RIVN 1Q Production of 13,980 vehicles vs 13,800 est. In Feb $RIVN had guided 1Q deliveries would be down 10-15% QoQ (delivs were 13,972 in 4Q). $RIVN maintained its FY’24 production guide of 57K. In 1Q of 2023, Rivian…
Rivian built and delivered more electric vehicles last quarter than Wall Street expected, giving the automaker a needed boost as it grapples with production hurdles and heavy costs. https://t.co/okqFXCeVKa
$RIVN 1Q delivs 13,588 beat WS 1Q est of 11,900. RIVN 1Q Production 13,980 vehicles vs 13,800 est. In Feb $RIVN had guided 1Q deliveries would be down 10-15% QoQ (delivs were 13,972 in 4Q). $RIVN maintained its FY’24 production guide of 57K.
Rivian Q1 deliveries total 13,588 vehicles to top consensus estimate https://t.co/M1WjiAbS3T
*RIVIAN 1Q VEHICLES DELIVERED 13,588, EST. 11,893
⚠️ RIVIAN MISSES PRODUCTION ESTIMATES AS EV MAKER SHIFTS TO NEW SUPPLY CHAIN Full Story → https://t.co/HJIhGMyGzz Rivian Automotive missed market estimates for quarterly production on Tuesday, impacted by the electric vehicle maker's move to transition to new suppliers for… https://t.co/zmzN7m1NMs
$RIVN | Rivian Q1 Production Figures: - Produced 13,980 Vehicles - Delivered 13,588 Vehicles - Production And Delivery Results During The First Quarter Of 2024 Were In Line With Rivian's Expectations - Management Is Reaffirming Guidance For Annual Production Of 57,000 Total…
$RIVN (-0.1% pre) Rivian Automotive (RIVN) delivered 13,588 vehicles in Q1, versus 11,893 expected - SI https://t.co/oZTqHjQHxf
BREAKING: $RIVN 1Q numbers •Vehicles Delivered 13,588, estimate 11,893 (Bloomberg Consensus) •Production 13,980 vehicles, estimate 13,817 Note: Rivian had guided deliveries would be down 10-15% QoQ (delivs were 13,972 in 4Q)