Rivian Automotive beat Wall Avenue’s fourth-quarter earnings expectations and achieved its first gross quarterly revenue – a goal intently watched by buyers – however is forecasting decrease gross sales in 2025.
The electrical automobile maker reported a gross revenue, which incorporates manufacturing and gross sales however doesn’t think about different bills, of $170 million through the last quarter of final yr. Rivian mentioned it plans to realize one other “modest gross revenue” in 2025. It has not mentioned when it expects to be worthwhile on a bottom-line foundation.
For 2025, Rivian additionally expects to slender its adjusted losses to a spread of $1.7 billion to $1.9 billion – down from a lack of $2.69 billion in 2024. The corporate forecasted deliveries of 46,000 to 51,000 items for 2025, in contrast with 51,579 automobiles delivered final yr.
Shares of Rivian had been up about 7% throughout afterhours buying and selling Thursday. The inventory closed at $13.61 a share, down 2.3%.
Rivian CEO RJ Scaringe instructed CNBC that there is “loads of uncertainty” surrounding the automotive business, particularly the potential elimination of federal incentives for EVs and tariff insurance policies that would influence the corporate.
Shares of Rivian, Tesla and Lucid in 2025.
“We consider exterior components might influence our 2025 expectations, together with modifications to authorities insurance policies and rules, and a difficult demand surroundings. Whereas uncertainties persist, we stay centered on executing towards our key worth drivers and are assured in electrifying the world in the long run,” Rivian mentioned Thursday in a shareholder letter.
Rivian mentioned it expects capital expenditures this yr to be between $1.6 billion and $1.7 billion, up from $1.41 billion final yr because it prepares to launch its new “R2” midsize automobiles in 2026.
Here is how the corporate carried out within the fourth quarter, in contrast with common estimates compiled by LSEG:
- Loss per share: 46 cents vs. a lack of 65 cents anticipated
- Income: $1.73 billion vs. $1.4 billion anticipated
Rivian’s quarterly gross revenue and income had been helped by $299 million from the sale of regulatory credit in addition to $214 million in software program and companies income. Rivian sells regulatory credit to different automakers to assist them meet emissions requirements, nonetheless future gross sales might be impacted by modifications to such rules by the Trump administration.
The corporate’s web loss for the fourth quarter was $743 million, or 70 cents per share, in comparison with a lack of $1.52 billion, or $1.58 per share, throughout the identical interval a yr earlier.
For the complete yr, Rivian misplaced $4.75 billion, or $4.69 per share.
Rivian’s 2024 income was $4.97 billion, up roughly 12% from $4.43 billion in 2023. Fourth-quarter income was up greater than 31% from the prior-year interval.
