Rivian Automotive, Inc. (NASDAQ:RIVN) Q2 2024 Earnings Call Transcript August 6, 2024 5:00 PM ET Company Participants Tim Bei - VP, IR RJ Scaringe - Founder and CEO Claire McDonough - CFO Wassym Bensaid - Chief Software Officer Conference Call Participants George Gianarikas - Canaccord Genuity Mark Delaney - Goldman Sachs Philippe Houchois - Jefferies Dan Levy - Barclays Joseph Spak - UBS Alex Potter - Piper Sandler Ben Kallo - Baird Shreyas Patil - Wolfe Research Ron Jewsikow - Guggenheim Securities Stephe ...

Rivian Automotive (RIVN) came out with a quarterly loss of $1.21 per share versus the Zacks Consensus Estimate of a loss of $1.09. This compares to loss of $1.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -11.01%. A quarter ago, it was expected that this a manufacturer of motor vehicles and passenger cars would post a loss of $1.13 per share when it actually produced a loss of $1.19, delivering a surprise of -5.31%.Over t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, $0.001 par value per share RIVN The Nasdaq Stock Market For the transition period from _ ...

Rivian’s financial losses have crept up as it pushed out the last of its first-generation R1 trucks and SUVs in favor of newer, more cost efficient versions — a sign of just how much the company could use the $5 billion that could come its way as part of a recently announced deal with Volkswagen Group.The company announced Tuesday that it lost $1.46 billion in the second quarter of 2024, up from a first-quarter loss of $1.45 billion. The loss was nearly $300 million worse than the second quarter last year. ...

Rivian Automotive beat Wall Street's top- and bottom-line expectations for the second quarter as the electric vehicle maker continues to take costs out of its business.Here is how the company did, compared to estimates from analysts polled by LSEG:Earnings per share: Loss of $1.13 adjusted vs. loss of $1.21 expectedAutomotive revenue: $1.16 billion vs. $1.14 billion expectedThe company's adjusted net losses widened during the second quarter to $1.46 billion, or a loss of $1.46 per share, compared with a yea ...

Q2 2024 Shareholder Letter © 2024 Rivian. All rights reserved. 2 During the second quarter of 2024, we made significant progress driving greater cost efficiency, enhancing our products, further strengthening our balance sheet, validating the differentiated nature of our technology stack, and establishing new business opportunities. We believe the introduction of the second generation R1 and expected partnership with Volkswagen Group will fundamentally improve Rivian's long-term profit trajectory and growth ...

Rivian Automotive (NASDAQ:RIVN) is a U.S.-based electric vehicle producer gearing up to release its second-quarter 2024 earnings after the bell on August 6. Based on its key financial and operational indicators, Rivian stock is a ‘Hold’ going into the upcoming earnings report. Production and delivery figures have met expectations, yet profitability still needs to be achieved. Additionally, the broader EV market is competitive and unstable at the micro-level. While there are positive trends among analysts’ t ...

Rivian Automotive (NASDAQ:RIVN) is among the top U.S. EV stocks that have underperformed in recent years. Since its IPO, RIVN stock has lost more than 90% of its value. To be fair, many companies in this sector have seen similar fates, or even worse. But for Rivian, a company with an excellent brand and growing market share in the EV space, the future outlook may be brighter than many peers. The company has raised a $5 billion investment from Volkswagen (OTCMKTS:VWAGY), is launching new models, and appears ...

The Biden administration’s EV initiatives have boosted domestic production, positioning EV stocks for growth under a potential Harris presidency. Rivian (NASDAQ:RIVN) could lead this growth, giving Rivian Stock a better profile. Automakers may benefit further if Pete Buttigieg, an EV advocate as Secretary of Transportation, joins Harris as her running mate, likely prioritizing supportive policies for U.S.-based EV producers.A notable Tesla (NASDAQ:TSLA) competitor, Rivian faces significant challenges on the ...

Rivian (NASDAQ:RIVN) stock is in the red today despite a positive note from Truist Securities. The fall is based on macroeconomic factors rather than company-specific factors, as the S&P 500 is down by about 2% today.Truist analyst Jordan Levy raised his RIVN stock price target to $16 from $13 while reiterating a “hold” rating. Levy’s price target was as high as $65 back in September 2022.Levy applauded Rivian’s efforts to adjust its growth plans in order to save on costs. He’s likely referring to the compa ...