Rivian Automobile Defeated Wall Street’s fourth-quarter earnings forecast and achieved its first quarterly profit – a target closely watched by investors – but forecasts lower sales in 2025.
The electric car maker reported gross profit, which included production and sales, without regard to other expenses, was $170 million in the last quarter of last year and plans to earn another “moderate gross profit” in 2025. The company hasn’t said when it expects to profit from the bottom line.
In 2025, Rivian also hopes to narrow the adjusted loss range to $1.7 billion to $1.9 billion, down from $2.69 billion in 2024. The company is expected to deliver 46,000 to 51,000 units in 2025, compared with 51,579 units delivered last year. .
“We believe external factors may impact our expectations in 2025, including changes in government policies and regulations and a challenging demand environment. Despite the persistence of uncertainty, we remain focused on the implementation of our key value drivers, And have the confidence to make the world full of electricity in the long run.,” Rivian said in a shareholder letter Thursday.
Rivian said capital expenditure is expected to be between $1.6 billion and $1.7 billion this year, up from $1.41 billion last year as it prepares to launch its new “R2” midsize vehicle in 2026.
This is the company’s performance in the fourth quarter, while the average estimate of the LSEG assembly:
- Loss per share: 46 cents vs. Expected loss of 65 cents
- income: $1.73 billion vs. $1.4 billion expected
Rivian’s quarterly gross profit and revenue received $299 million from the sale of regulatory credit and $214 million in software and services revenue. Rivian sells regulatory credits to other automakers to help them meet emission standards.
The company’s fourth-quarter net loss was $743 million, or 70 cents per share, compared with a loss of $1.52 billion, or 1.58 per share a year ago.
Over the entire year, Rivian lost $4.75 billion, or $4.69 per share.
Rivian’s revenue in 2024 was $4.97 billion, up about 12% from $4.43 billion in 2023. Revenue in the fourth quarter increased by more than 31% over the previous year.
This is a developing story. Please check it for additional updates.
