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Rivian Automotive | 10-Q: Q3 2024 Earnings Report

Rivian Automotive | 10-Q: Q3 2024 Earnings Report

Rivian Automotive | 10-Q:2024财年三季报
美股SEC公告 ·  2024/11/08 06:23

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Rivian Automotive reported Q3 2024 revenue of $874 million, down 35% year-over-year, as deliveries fell 36% to 10,018 vehicles due to production disruptions from component shortages in its Enduro motor system. The company produced 13,157 vehicles during the quarter, down 19% from the prior year. Net loss narrowed to $1.1 billion from $1.37 billion a year ago.Cost of revenues decreased to $1.27 billion from $1.81 billion, while gross loss improved to $392 million from $477 million. Operating expenses declined 19% to $777 million, driven by lower research and development costs. The company maintained strong liquidity with $6.74 billion in cash and investments as of quarter-end.Looking ahead, Rivian announced plans to launch R2 production at its Normal Factory in 2026 and expand annual production capacity to 215,000 units. The company expects to receive approximately $4 billion in additional funding from Volkswagen Group through equity investments and a joint venture, subject to certain conditions. Management continues to focus on reducing costs and improving manufacturing efficiency while facing near-term supply chain constraints.
Rivian Automotive reported Q3 2024 revenue of $874 million, down 35% year-over-year, as deliveries fell 36% to 10,018 vehicles due to production disruptions from component shortages in its Enduro motor system. The company produced 13,157 vehicles during the quarter, down 19% from the prior year. Net loss narrowed to $1.1 billion from $1.37 billion a year ago.Cost of revenues decreased to $1.27 billion from $1.81 billion, while gross loss improved to $392 million from $477 million. Operating expenses declined 19% to $777 million, driven by lower research and development costs. The company maintained strong liquidity with $6.74 billion in cash and investments as of quarter-end.Looking ahead, Rivian announced plans to launch R2 production at its Normal Factory in 2026 and expand annual production capacity to 215,000 units. The company expects to receive approximately $4 billion in additional funding from Volkswagen Group through equity investments and a joint venture, subject to certain conditions. Management continues to focus on reducing costs and improving manufacturing efficiency while facing near-term supply chain constraints.
Rivian汽车公司公布2024年第三季度营业收入为87400万,同比下降35%,由于其Enduro电动机系统的组件短缺导致交付量下降36%,总交付量为10,018辆。该公司在本季度生产了13,157辆汽车,较去年减少19%。净亏损从一年前的13.7亿缩小至11亿。营业收入成本从18.1亿降至12.7亿,而毛亏损从47700万改善至39200万。营业费用下降19%至77700万,主要受到研发成本降低的推动。截止季度末,该公司保持强劲的流动性,现金和投资达67.4亿。展望未来,Rivian宣布计划在2026年于其Normal工厂启动R2生产,并将年生产能力扩大至215,000辆。该公司预计将通过股权投资和合资企业从大众汽车集团获得约40亿的额外资金,具体取决于某些条件。管理层继续专注于降低成本和提高制造效率,同时面临近期的供应链限制。
Rivian汽车公司公布2024年第三季度营业收入为87400万,同比下降35%,由于其Enduro电动机系统的组件短缺导致交付量下降36%,总交付量为10,018辆。该公司在本季度生产了13,157辆汽车,较去年减少19%。净亏损从一年前的13.7亿缩小至11亿。营业收入成本从18.1亿降至12.7亿,而毛亏损从47700万改善至39200万。营业费用下降19%至77700万,主要受到研发成本降低的推动。截止季度末,该公司保持强劲的流动性,现金和投资达67.4亿。展望未来,Rivian宣布计划在2026年于其Normal工厂启动R2生产,并将年生产能力扩大至215,000辆。该公司预计将通过股权投资和合资企业从大众汽车集团获得约40亿的额外资金,具体取决于某些条件。管理层继续专注于降低成本和提高制造效率,同时面临近期的供应链限制。
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