Rivian Q1 preview: Profit path, margins, and vehicle roadmap in focus [Yahoo! Finance]
Rivian Automotive, Inc. (RIVN)
Company Research
Source: Yahoo! Finance
In the first quarter Rivian revealed its upcoming R2 mid-size EV and strong Q1 sales , but also announced job cuts and a pause in the development of its Georgia plant. The company also received a financial boon from the state of Illinois: an $827 million incentive package to expand its facility in the city of Normal. Conserving cash while still developing its new vehicles (and retooling its existing Normal plant) is of paramount concern for investors as 2024 progresses. For the quarter, Rivian is expected to report revenue of $1.175 billion, a massive 78% jump from a year ago. The revenue bump will not translate into profit yet, with the company expected to report an adjusted loss of $1.15 per share, with an adjusted net income loss of $1.129 billion. Operating profit is expected to come in slightly worse, with a $1.299 billion loss, along with EBITDA of negative $856.6 million. Last month the company did, however, report first quarter R1T and R1S production of 13,980 and deliv
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News
- Troubled EV maker Fisker closing Manhattan Beach headquarters [Yahoo! Finance]Yahoo! Finance
- Mercedes-Benz workers in Alabama vote against unionizing in blow to big UAW push [Yahoo! Finance]Yahoo! Finance
- Troubled EV maker Fisker closing Manhattan Beach headquarters [Los Angeles Times (CA)]Los Angeles Times
- Investors in Rivian Automotive, Inc. Should Contact Levi & Korsinsky Before June 18, 2024 to Discuss Your Rights - RIVNAccesswire
- Investors who lost money on Rivian Automotive, Inc. (RIVN) should contact Levi & Korsinsky about pending Class Action - RIVNAccesswire
RIVN
Earnings
- 5/7/24 - Beat
RIVN
Sec Filings
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- RIVN's page on the SEC website