Here’s what investors should look for in Rivian's quarterly results after the bell
Here’s more on the $Rivian Automotive (RIVN.US)$ ’s plans and what investors should know ahead of its fourth-quarter results Thursday after the bell:
Expect losses![]()
Rivian is expected to report a fourth-quarter adjusted loss per share of $1.97 on revenue of $60 million, according to estimates compiled by Refinitiv.For the third quarter, Rivian reported an operational loss of $776 million and a net loss of $1.23 billion.
Rivian is expected to report a fourth-quarter adjusted loss per share of $1.97 on revenue of $60 million, according to estimates compiled by Refinitiv.For the third quarter, Rivian reported an operational loss of $776 million and a net loss of $1.23 billion.
Outlook![]()
Rivian has said it plans to produce 150,000 EVs by 2023. That’s going to be a heavy task, given the company at the end of last year was averaging about 50 vehicles a week – an annual pace of 2,600 vehicles.The company last year said it expected capital expenditures to be approximately $8 billion through the end of 2023.
Rivian has said it plans to produce 150,000 EVs by 2023. That’s going to be a heavy task, given the company at the end of last year was averaging about 50 vehicles a week – an annual pace of 2,600 vehicles.The company last year said it expected capital expenditures to be approximately $8 billion through the end of 2023.
For 2022, Refintiv consensus estimates put Rivian’s full-year adjusted loss per share at $4.97 and revenue at about $3.16 billion.
Production snags![]()
Shares of Rivian nosedived in December after CEO Robert “R.J.” Scaringe disclosed the company would miss its 2021 production target due to supply chain issues as well as challenges ramping up production of the complex batteries that power the vehicles. The shares haven’t been able to recover, down 60% since then.
Shares of Rivian nosedived in December after CEO Robert “R.J.” Scaringe disclosed the company would miss its 2021 production target due to supply chain issues as well as challenges ramping up production of the complex batteries that power the vehicles. The shares haven’t been able to recover, down 60% since then.
Rivian paused production at its Illinois plant for 10 days for fixes and process improvements, Scaringe said last month during a Wolfe Research conference.
The company previously said it planned to add a second battery pack assembly line at its plant in early 2022.
Commodity costs![]()
The rapidly-rising costs of commodities such as nickel, a critical ingredient in most long-range EV batteries, is likely to be a key focus during Rivian’s earnings call. Russia is a major global supplier of nickel, and the price of the metal has surged as investors grapple with the implications of the heavy sanctions imposed in the wake of the country’s invasion of Ukraine.
The rapidly-rising costs of commodities such as nickel, a critical ingredient in most long-range EV batteries, is likely to be a key focus during Rivian’s earnings call. Russia is a major global supplier of nickel, and the price of the metal has surged as investors grapple with the implications of the heavy sanctions imposed in the wake of the country’s invasion of Ukraine.
Against that backdrop, Rivian last week announced steep price increases – about $12,000 – on higher-end “quad-motor” versions of its R1T pickup and R1S SUV, saying that rising costs made the move necessary.
Reservations![]()
Wall Street views vehicle reservations as an indicator of demand for new vehicles. It’s a recent process for the automotive industry, spurred by Tesla taking reservations for its vehicles.
Wall Street views vehicle reservations as an indicator of demand for new vehicles. It’s a recent process for the automotive industry, spurred by Tesla taking reservations for its vehicles.
As of Dec. 15, Rivian reported 71,000 reservations for its electric R1T pickup and R1S SUV, up by 28.2% from 55,400 units in November. The company previously said it planned to complete those orders by the end of 2023.
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JOHN AVATAR : RIVIAN still does not offer test drives to the public!!!!
Amazon is going to be SOOOOO pissed when they find out their new Rivian EVT's only have a 1/4 to 1/10th advertised range, when they actually carry a real load and they have to drive up and down lots of hills around town AND THEY CAN'T FIND A CHARGER AROUND TOWN THAT TAKES HOURS TO CHARGE THEIR RIVIAN EVT!!!!
I drive an EV (4+ years), I love it, but I work at home, no real driving, short grocery run trips, but yes, it takes HOURS to fully charge from a dead battery, not 3 minutes it takes to fill up a gas car!!!!
NO MATTER WHAT PEOPLE SAY, YOU CAN NOT FIND A CHARGER, unless you live in Malibu to Santa Monica where I live, but I still charge at home on 110V (I don't need a fast charger, I just don't drive that much). I bicycle on long rides around town.
JOHNAVATAR.com
efficentupup OP JOHN AVATAR : Earnings begins…
Lionnell : When crash?