Rivian Automotive reported mixed first-quarter results, with a revenue of $1.204 billion, surpassing expectations of $1.175 billion, but faced a significant earnings miss with a net loss of $1.446 billion, wider than the anticipated $1.299 billion. The company also reported an earnings per share (EPS) loss of $1.45, against expectations of $1.15, and an adjusted EBITA loss of $798 million. Despite the financial setbacks, Rivian reaffirmed its production forecast of 57,000 vehicles for 2024 and announced a reduction in its capital expenditure forecast for the year from $1.7 billion to $1.2 billion. The automaker's cost-cutting measures and operational adjustments continue as it aims for improved financial health, although it lost $38,798 per vehicle built in Q1.
Q1 2024 Rivian average selling price: $88,607 Lucid average selling price: $87,798
Rivian's first-quarter deliveries and production saw significant increases, with plans to build 57,000 vehicles this year. https://t.co/ycau4A9jan
Rivian's stock falls after EV company reports wider-than-expected quarterly loss https://t.co/SLW1aOxEIw
$RIVN -1% after hours after posting a larger than exp FCF 1Q loss (-$1.5B vs -$1.0B est), but beating on 1Q ebitda (-$798M vs -$858M) and guiding to higher than expected FY’24 EBITDA of -$2.7B vs -$2.9B expected. Importantly, RIVN held its FY’24 guidance of 57K production and…
Rivian reports mixed Q1 results but trims capex forecast and sees Q4 'gross profit' https://t.co/FhYxVHOxG7 by @Pras_S
$RIVN | Rivian reaffirmed guidance of 57,000 total units of production for 2024. Read @chriskatje's article for a recap of Rivian's Q1 Earnings. https://t.co/PmZPK5jEcZ
Rivian doubled its revenue year over year, but still somehow lost more money than last year. $RIVN https://t.co/2cU6ufO8iT
Rivian Q1 Earnings Highlights: Revenue Beat, EPS Miss, Vehicle Guidance Reaffirmed $RIVN $AMZN https://t.co/G9TkJDeDRF via @Benzinga
Rivian’s negative gross profit is more than Tesla’s average COGS https://t.co/JcgPbZ8EX1
$RIVN +1% after hours after posting a larger than exp FCF 1Q loss (-$1.5B vs -$1.0B est), but beating on 1Q ebitda (-$798M vs -$858M) and guiding to higher than expected FY’24 EBITDA of -$2.7B vs -$2.9B expected. Importantly, RIVN held its FY’24 guidance of 57K production and…
Rivian's operating margin worsened in Q1 2024 to negative 123% (from negative 120% in Q4) https://t.co/JJPCkIW95L
Rivian has about 4 quarters of cash left. They will have to raise this year. $RIVN
Rivian sticks to annual production forecast, posts wider quarterly loss https://t.co/Xss7UUpMTx https://t.co/pCFuUXXe1g
Rivian loses $1.45 billion as cost-cutting measures continue: https://t.co/e7UzVVvp2X by TechCrunch #infosec #cybersecurity #technology #news
rough quarter at first glance from $RIVN @rivian operating loss increased to $1.484B for the quarter https://t.co/vJIolIRckj
Rivian now has $7.86 billion in cash, down -13% from $9B in Q4 2023. Rivian's net loss in Q1 was -$1.45B. https://t.co/DRF2qmKbAt
Rivian has $7.86 billion in cash and cash equivalents $RIVN
Rivian lost $1.45 billion in Q1 2024 $RIVN
Rivian's net loss in Q1 2024 was $1.45B (vs -$1.35B in Q1 2023). https://t.co/7tIUPtO1a6
Rivian lost -$38,798 for every vehicle that they delivered in Q1 2024 (vs -$43,272 in Q4 2023). Rivian lost -$124k per vehicle in Q4 2022. https://t.co/gXXDKofAfy
NEWS: Rivian Q1 2024 earnings have released: • Revenue: 1.204B • Net loss: -$1.446 billion • $5.979B in cash on hand • 57K production target reaffirmed • 13,980 vehicles produced, 13,588 delivered https://t.co/XfxS5955Lo
Rivian has reduced its 2024 capital expenditures guidance to $1.2 billon (from $1.7 billion). "We also expect savings from moving the R2 launch to Normal to impact 2025 and 2026." https://t.co/9nq36nGIDz
Rivian lost $1.45 billion in the first quarter, showing that its recent company-wide cost-cutting measures have a ways to go before it can approach profitability https://t.co/P0QtmNOGxT
Rivian loses $1.45 billion as cost-cutting measures continue https://t.co/P0QtmNO8Il
Rivian missed earnings expectations to start the year as the automaker works to revamp its manufacturing operations and boost EV output https://t.co/37eeh3nIom
$RIVN | Rivian Automotive Q1 Earnings: - EPS/Loss $1.48 (Est/Loss $1.25) 🔴 - Sales $1.204B (Est. $1.163B) 🟢
$RIVN Earnings: - Total revenues for the first quarter of 2024 were $1,204 million, primarily driven by the delivery of 13,588 vehicles. Total revenues from the sale of regulatory credits were de minimis for the quarter. - Net loss for the first quarter of 2024 was $(1,446)… https://t.co/aiOfpNz27V
Rivian revenue in line, wider-than-expected loss per share, reiterates production guidance (57k in 2024) and still sees “modest” gross profit as achievable in 4Q. I’ll speak to Rivian CEO @RJScaringe live with @kgreifeld tomorrow at 10amET/7amPT $RIVN
Rivian says that in the first quarter of 2024, they hosted over 28,000 demo drives, a 91% increase versus the fourth quarter of 2023. https://t.co/VGbqfc7tfe
Rivian: "Q1 gross profit per vehicle delivered was -$38,784, which includes $15,455 of depreciation and $1,693 of stock-based compensation expense. Our results were negatively impacted by $9,346 per unit delivered, primarily related to various supplier and other costs incurred in…
RIVIAN $RIVN JUST REPORTED EARNINGS EPS of -$1.24 missing expectations of -$1.16 Revenue of $1.2B beating expectations of $1.17B
Rivian (RIVN) Q1 results – revenue beat, earnings miss, slight margin increase https://t.co/w3091A6eV8
NEWS: Rivian just reported their Q1 earnings results. • EPS (Adj): -$1.24 vs. Est. -$1.17 • Rev: $1.20B vs $1.17B est • Adjusted EBITA loss: $798M • Rivian lost $38,798 per vehicle built in Q1 (vs $43k in Q4).
⚠️ RIVIAN POSTS QUARTERLY REVENUE BEAT, CUTS 2024 CAPITAL SPENDING FORECAST Full Story → https://t.co/7ox5iDgVcS Rivian Automotive on Tuesday reported first-quarter revenue that beat Wall Street expectations and reiterated its production forecast of 57,000 units this year,…
$RIVN reports mixed Q1 results, but trims capex forecast and sees Q4 'gross profit' https://t.co/HaZCfutNf8 💵 Revenue: $1.204 vs $1.175B expected 💲 Loss per share: $1.45 vs $1.15 expected 📉 Operating loss: $1.484B vs $1.299B expected
Rivian Q1 preview: Profit path, margins, and vehicle roadmap in focus https://t.co/Xmn9bD2yXY by @Pras_S
Rivian earnings today after the bell $RIVN
Rivian Automotive's earnings report after sales growth and cost cutting suggests financial challenges ahead. https://t.co/BbAFGAuuiH