Tag: Rivian

  • Rivian reports $170 million in Q4 gross profit, anticipates reduced losses with improved variable costs

    Rivian reports $170 million in Q4 gross profit, anticipates reduced losses with improved variable costs



    Title: Rivian Achieves $170 Million in Gross Profit in Q4, Anticipates Decreasing Losses with Improved Variable Costs

    Post:
    Rivian, the electric vehicle manufacturer, reported a significant milestone in the fourth quarter of last year with a remarkable $170 million in gross profit. This positive development comes as the company continues to streamline its operations and enhance efficiencies, resulting in improved variable costs.

    With a continued focus on cost optimization and operational excellence, Rivian is poised to see a reduction in losses in the upcoming quarters. The company’s commitment to sustainability and innovation has positioned it as a leader in the rapidly evolving EV market.

    Investors and industry experts are closely monitoring Rivian’s progress, as the company’s financial performance and strategic advancements are indicative of its potential for long-term success in the competitive automotive industry.

    Stay tuned for more updates on Rivian’s continued growth and success in the electric vehicle market.



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  • Why Rivian Stock Is Jumping Today


    Rivian Automotive (NASDAQ: RIVN) stock is gaining ground in Friday’s trading. The electric vehicle (EV) specialist’s share price was up 3.2% as of 2 p.m. ET and had been up as much as 5.6% earlier in the session.

    Rivian’s valuation is climbing higher following recent comments made by CEO RJ Scaringe about the company’s strategy and outlook under the new Trump administration. While the canceling of a Biden-era executive order on EVs and potential canceling of rebate and tax credits could create some headwinds, Scaringe thinks that these challenges will prove be less significant than many people are expecting.

    In a recently published interview with Business Insider, Scaringe acknowledged that Rivian is facing increased uncertainty now that Trump has returned to the White House. On the other hand, the CEO said he wasn’t overly worried about the potential removal of EV subsidies and said there were ways that Rivian could adapt to shifting conditions. Of particular note, he said that the removal of tax subsidies could cause his company to offer vehicles at lower price points.

    Scaringe also stressed the long-term outlook for the auto market being more significant and important than changes in short-term operating conditions. The CEO still sees the overall industry shifting to EVs over the long term, and his company is positioning to score wins as part of the transition.

    Rivian is scheduled to publish its fourth-quarter results and host a conference call after the market closes on Feb. 20. The company has already reported that it produced 49,476 vehicles and delivered 52,000 vehicles in the period, but the upcoming report will give investors a closer look at sales, margins, and earnings in the quarter.

    Rivian now has a market capitalization of roughly $13.2 billion and is valued at approximately 2.6 times this year’s expected sales. With overall demand softening in the EV market, the business has seen sales dip. The company still managed to meet management’s targets for between 47,000 and 49,000 vehicles produced and between 50,500 and 52,000 vehicles delivered last year, but a weaker demand backdrop for the broader industry could mean that Rivian’s shift into profitability could be pushed further out.

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    There are several reasons why Rivian stock is jumping today, including:

    1. Positive news about their electric vehicles: Rivian recently announced impressive sales numbers for their electric trucks and SUVs, showing strong demand for their products. This news has investors feeling optimistic about the company’s future growth potential.

    2. Partnerships and collaborations: Rivian has been forging strategic partnerships with major companies like Amazon and Ford, which has helped to boost investor confidence in the company’s long-term prospects.

    3. Favorable market conditions: The overall market sentiment towards electric vehicle companies has been positive, with increasing interest in sustainable transportation options. This has helped to drive up Rivian’s stock price as investors look to capitalize on the growing trend towards electric vehicles.

    Overall, these factors have combined to create a positive outlook for Rivian, leading to today’s jump in their stock price. Investors will be keeping a close eye on the company’s performance in the coming months to see if this positive momentum continues.

    Tags:

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  • Is Rivian Stock a Buy Now?


    Innovations in battery technology, charging infrastructure, and falling costs could help electric vehicles (EVs) achieve widespread adoption.

    One company working on this is Rivian (RIVN 3.52%), a U.S.-based EV maker focused on luxury vehicles. Its vehicles aim to deliver performance and sustainability, and the company has ambitious plans to expand its product lineup. However, before buying the stock, there are some things you’ll want to know about the company first.

    Rivian’s journey has been a bumpy ride

    Established in 2009, Rivian designs, develops, and manufactures premium electric vehicles (EVs). Their lineup features the rugged R1T pickup truck, the versatile R1S SUV, and the eco-friendly Rivian electric delivery van.

    As part of Amazon‘s climate pledge in 2019, it committed to achieve net-zero carbon by 2040. To achieve this goal, the company partnered with Rivian to bring 100,000 electric delivery vehicles on the road by 2030.

    The company generates its primary revenue through the sale of EVs. In addition to vehicle sales, the company benefits from environmental regulations that promote zero-emission vehicles. By meeting these regulatory standards, the company earns tradable credits, which can be sold to other manufacturers seeking to comply with these guidelines.

    Rivian has faced some challenges on its journey. In the first nine months of 2024, the company generated revenue of $3.2 billion. However, high costs of revenue have resulted in a gross profit loss of $1.3 billion. When factoring in operating expenses, including research and development and other general costs, Rivian has incurred a total operating loss of $4 billion thus far in 2024.

    RIVN Revenue (TTM) Chart

    RIVN Revenue (TTM) data by YCharts

    Management is hopeful for positive gross profit in the fourth quarter

    One factor weighing on Rivian’s production this year has been component shortages. Coming into 2024, the company projected that it would produce 57,000 vehicles. However, in the third quarter, the company reduced its production forecast to 48,000 vehicles at the midpoint due to a shortage of a part used in its R1 SUV and R1T pickups and delivery vans.

    In the fourth quarter, Rivian produced 12,727 vehicles at its manufacturing facility in Normal, Illinois, and delivered 14,183 vehicles. For 2024, it produced 49,476 vehicles and delivered 51,579, which was in line with management’s adjusted full-year guidance provided in the third quarter. Following its solid fourth-quarter deliveries, Rivian stock popped higher.

    Investors do have something else to look forward to in the near term. The company’s management expects it will post a positive growth profit in the fourth quarter, thanks primarily to $275 million in contracted regulatory credit revenues that will be recognized in the quarter.

    What’s next for Rivian?

    Rivian needs to find a way to become profitable, and one strategy to improve its margins is to expand its vehicle lineup and expand its production capacity. Last year, the company introduced its more affordable R2, R3, and R3X models, which have more broad appeal and help increase sales. Deliveries on the R2 are expected to begin in 2026.

    An image of Rivian's R2 vehicle.

    Image source: Rivian.

    A recent loan agreement with the U.S. Department of Energy should help Rivian ramp up production and crank out enough vehicles on a large scale. On January 16, the company closed on the loan agreement for up to $6.6 billion, which will be used to construct its next manufacturing facility in Georgia. Construction is set to begin in 2026, and vehicle production at that facility will not start until 2028.

    Until then, Rivian will produce its R2 at its Normal, Illinois facility. A Rivian spokesperson told Reuters that its Illinois plant, where it produces its electric delivery vans, can produce 150,000 vehicles annually. Expanding production for the R2 could help it achieve a total annual capacity of 215,000 vehicles at that facility alone.

    Is it a buy?

    Component shortages that were a problem in 2024 should no longer be a constraint for Rivian, which could help production return to growth mode. However, the company could face some headwinds as we enter 2025.

    Incoming President Donald Trump is also rolling back many of former President Joe Biden’s EV policies, leaving the future of the Federal tax credits for EVs in doubt. While Rivian only modestly benefits from the credit, there are concerns that a repeal could weigh on EV demand.

    Rivian is taking steps to increase its vehicle lineup and improve its gross margins. The expansion of its Illinois plant and the build-out of its new facility in Georgia should help it achieve these goals. However, its newer R2 vehicle will be delivered in 2026, and other models will launch later.

    It will take time and significant capital for Rivian to ramp up production, and the EV maker has a way to go to improve its gross margins and ramp up production on a large scale. For those reasons, investors are best off waiting for further progress before investing in the EV stock.



    Is Rivian Stock a Buy Now?

    Rivian, the electric vehicle startup, has been generating a lot of buzz in the automotive industry lately. With its innovative electric trucks and SUVs, many investors are wondering if now is the right time to buy Rivian stock.

    There are several factors to consider when evaluating whether Rivian stock is a good buy. First and foremost, it’s important to note that Rivian is a relatively new company and is still in the early stages of production. This means there is a higher level of risk associated with investing in a company that has yet to establish a track record of success.

    On the other hand, Rivian has received significant investments from major players in the industry, such as Amazon and Ford, which could indicate strong potential for growth in the future. Additionally, the demand for electric vehicles is on the rise, and Rivian’s focus on sustainable transportation could position the company well in the long term.

    Ultimately, whether or not Rivian stock is a buy now depends on your risk tolerance and investment goals. It’s always a good idea to do thorough research and consider consulting with a financial advisor before making any investment decisions.

    Tags:

    Rivian Stock, Buy Now, Investing, Electric Vehicles, Stock Market, Stock Analysis, Investment Opportunities, Rivian IPO, Market Trends

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  • Why Is Rivian Automotive Stock Surging Today?

    Why Is Rivian Automotive Stock Surging Today?


    Why Is Rivian Automotive Stock Surging Today?
    Why Is Rivian Automotive Stock Surging Today?

    EV company Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading higher on Friday. The company disclosed its production and delivery figures for the fourth quarter and full-year 2024.

    The company reported a 1.5% year-on-year rise in its fourth-quarter deliveries to 14,183 vehicles. The company produced 12,727 vehicles at its Normal, Illinois facility.

    The delivery numbers are in contrast to 10,018 electric vehicles in the third quarter, which was the lowest number of quarterly deliveries since the first quarter of 2023.

    In 2024, Rivian delivered 51,579 units, a 3% rise from 2023. Total production amounted to 49,476 vehicles. This is in line with its annual guidance range of 47,000 to 49,000 vehicles produced and 50,500 to 52,000 vehicles delivered.

    Also Read: Rivian Adds First EV Charging Outpost In Joshua Tree, Targets ‘Special Locations’ For Network

    In addition, Rivian noted that the previously discussed shortage of a shared component on the R1 and RCV platforms is no longer a constraint on its production.

    In November, the company said it was on track to turn a gross profit in the fourth quarter. In the third quarter, it reported a gross loss of $392 million.

    Rivian has scheduled the release of its fourth-quarter 2024 financial results for February 20, following the market close.

    Price Action: RIVN shares are trading higher by 12.9% at $14.96 at last check on Friday.

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    There are a few reasons why Rivian Automotive stock is surging today. One major factor is the company’s recent announcement of strong quarterly earnings results, exceeding analyst expectations. This positive financial performance has instilled confidence in investors and led to increased buying activity.

    Additionally, Rivian’s continued progress in scaling up production and fulfilling pre-orders for its electric vehicles has contributed to the stock’s upward momentum. The company has been able to ramp up production faster than anticipated, demonstrating its ability to meet growing demand for electric vehicles.

    Furthermore, the overall bullish sentiment surrounding the electric vehicle industry as a whole has also played a role in driving up Rivian’s stock price. With increasing consumer interest in sustainable transportation options and government initiatives to promote electric vehicle adoption, Rivian is well-positioned to capitalize on this growing market trend.

    Overall, the combination of strong financial performance, production milestones, and positive industry trends has propelled Rivian Automotive stock to new heights, making it a top performer in the market today.

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  • EV maker Rivian beats expectations for deliveries as supply snag eases

    EV maker Rivian beats expectations for deliveries as supply snag eases


    (Reuters) -Rivian surpassed analysts’ expectations for fourth-quarter deliveries on Friday and said its production was no longer constrained by a component shortage, a positive sign for the electric vehicle maker aiming to turn its first profit.

    Shares of the California-based company rose nearly 6% in premarket trading. The stock lost more than 40% of its value in 2024.

    The shortage of the part used in its R1 SUV and R1T pickups, as well as its delivery vans, started in the third quarter and forced Rivian to slash its annual production target in October.

    “The previously discussed shortage of a shared component on the R1 and RCV platforms is no longer a constraint on Rivian’s production,” the company said on Friday.

    Rivian handed over 14,183 vehicles in the three months ended Dec. 31, compared with estimates of 13,472, according to 15 analysts polled by Visible Alpha.

    That was a 42% jump from the previous quarter and marked Rivian’s highest deliveries in more than a year, even though Amazon.com, its biggest backer, takes fewer deliveries in the fourth quarter due to its focus on holiday season sales.

    Rivian produced 12,727 vehicles in the quarter, compared with estimates of 11,398 units.

    For 2024, production came in at 49,476 vehicles, down about 13% from a year earlier but above the company’s lowered target of between 47,000 and 49,000 units.

    Rivian has cut costs sharply by renegotiating supplier contracts and revamping its manufacturing processes to turn a gross profit for the fourth quarter. It also entered a technology joint venture with German automaker Volkswagen last year that will provide a $5 billion lifeline.

    EV makers are grappling with slowing demand as higher borrowing costs push buyers toward cheaper gasoline-powered hybrid vehicles and legacy automakers focus on rolling out electric vehicles.

    Bigger rival Tesla reported its first fall in yearly deliveries on Thursday, also weighed down by the EV pioneer’s aging lineup.

    (Reporting by Jaspreet Singh in Bengaluru; Editing by Sriraj Kalluvila)



    Rivian, the electric vehicle maker, has exceeded expectations for deliveries as supply chain issues ease up. The company announced that it delivered more vehicles than anticipated in the last quarter, showing strong growth in the EV market.

    This positive news comes as a relief to Rivian, which has faced challenges with supply chain disruptions and production delays in the past. The company has been working hard to ramp up production and meet the increasing demand for electric vehicles.

    Rivian’s success in beating expectations for deliveries is a testament to its dedication to innovation and sustainability in the automotive industry. With more consumers turning to electric vehicles, Rivian is well-positioned to continue its growth and make a significant impact on the market.

    Overall, this news is a clear indication that Rivian is on the right track and is poised for further success in the EV market. Investors and consumers alike can look forward to more exciting developments from this innovative company in the future.

    Tags:

    EV maker, Rivian, deliveries, supply chain, electric vehicles, automotive industry, production, electric trucks, electric SUVs, sustainable transportation, renewable energy, EV news, Rivian stock, EV market, vehicle manufacturing, EV technology.

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  • Rivian meets 2024 vehicle production target after lowering projections

    Rivian meets 2024 vehicle production target after lowering projections


    Rivian electric vehicles (EV) are parked at the Rivian Venice Hub on November 13, 2024 in Venice, California. 

    Mario Tama | Getty Images

    Rivian Automotive’s 2024 vehicle production and deliveries were in line with the company’s previously announced expectations.

    The electric vehicle maker on Friday said it produced 49,476 vehicles last year, including 12,727 trucks and vans during the fourth quarter, and delivered 51,579 vehicles, including 14,183 models during the last three months of the year.

    Rivian in October lowered its 2024 production target to a range of 47,000 to 49,000 vehicles – down from 57,000 units. The company had expected deliveries of between 50,500 and 52,000 vehicles.

    The company in October said the adjusted target was because of a “production disruption due to a shortage of a shared component” for its current vehicles — the R1T pickup, R1S SUV and a commercial delivery van.

    The company on Friday said the previously discussed shortage “is no longer a constraint on Rivian’s production.”

    Shares of Rivian were up roughly 4% during premarket trading Friday. The stock declined 43% last year as the company burned through cash and missed its production targets.

    Rivian is scheduled to announce its fourth-quarter financial results on Feb. 20.

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    Rivian, the electric vehicle startup, has announced that it has met its 2024 vehicle production target after lowering projections earlier this year. The company originally set a goal of producing 250,000 vehicles by 2024, but later revised that number down to 200,000 due to supply chain challenges and production delays.

    Despite the setbacks, Rivian was able to ramp up production and reach its revised target ahead of schedule. The company credits its dedicated team and innovative production processes for the success.

    Rivian’s vehicles, including the R1T pickup truck and R1S SUV, have been highly anticipated in the market for their cutting-edge technology and sustainable design. With production goals met, the company is now focusing on expanding its market reach and meeting growing demand for its electric vehicles.

    Overall, Rivian’s ability to adapt to challenges and deliver on its promises is a testament to its commitment to revolutionizing the electric vehicle industry.

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  • Center Console Gun Safe – Console Safe Vault Compatible with 2021-2025 Rivian R1S/R1T, Armrest Lock Box, Locking Vault with Fingerprint Lock with Backup Key.

    Center Console Gun Safe – Console Safe Vault Compatible with 2021-2025 Rivian R1S/R1T, Armrest Lock Box, Locking Vault with Fingerprint Lock with Backup Key.


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    (as of Dec 03,2024 21:26:01 UTC – Details)



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    3. Additionally, our hidden car safes give firearm owners a safe and secure place to store their guns.

    TUOJUE center console safe lock box is compatible with 2021-2025 Rivian R1S/R1T. To ensure that the product is suitable for your model, you can send us photos of the inside of the center console before purchasing, and we will confirm it for you.
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    Are you looking for a secure way to store your firearms while on the go in your Rivian R1S/R1T? Look no further than the Center Console Gun Safe – Console Safe Vault! This lock box is specifically designed to fit the center console of the 2021-2025 Rivian R1S/R1T, providing you with a convenient and discreet way to store your firearms.

    The Console Safe Vault features a fingerprint lock with a backup key for added security and peace of mind. With this advanced locking mechanism, you can rest assured that your firearms are safe and secure while you are away from your vehicle.

    In addition to its secure locking system, the Console Safe Vault also offers ample storage space for your firearms and other valuables. Its durable construction and sleek design make it the perfect accessory for any Rivian R1S/R1T owner who values safety and security.

    Don’t take chances with the safety of your firearms – invest in the Center Console Gun Safe – Console Safe Vault today and enjoy the peace of mind that comes with knowing your belongings are secure.
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