Rivian (RIVN) to Report Q4 and Full-Year Results
Rivian (RIVN) will release its fourth quarter and full-year financial results after the market close on Thursday. Investors will scrutinize the report for indicators of the adventure EV maker's ability to reduce losses and achieve a "modest gross profit" in the quarter.
Q4 Expectations
Analysts anticipate Rivian to report:
* Revenue: $1.386 billion (up 5.4% YoY)
* Adjusted EPS Loss: $0.65
* Adjusted EBITDA Loss: $399.8 million
Full-Year Outlook
Despite widening its adjusted EBITDA loss forecast for the full year, Rivian maintains its annual production target of 47,000 to 49,000 units. It has produced 49,476 vehicles and delivered 51,579 units, with 12,727 vehicles produced and 14,183 delivered in Q4.
Key Developments in Q4
* Expanded partnership with Volkswagen (VWAGY)
* $6.6 billion conditional loan commitment from the Department of Energy
* Opened up orders for EDV commercial delivery van
Industry Dynamics
Rivian faces several regulatory uncertainties:
* Potential repeal of the federal EV tax credit
* Scrutiny of DOE loan deal by the Biden administration
Analyst Sentiment
Truist analyst Jordan Levy maintains a Hold rating with a $14 price target, highlighting expectations for increased demand growth and updates on the GA plant loan and EDV commercialization.