Rivian's Q4 and Full-Year Results: Anticipating Growth and Recovery
Key Metrics:
* Revenue: Estimated $1.386 billion, a 5.4% increase year-over-year
* Adjusted EPS: Expected loss of $0.65
* Adjusted EBITDA: Projected loss of $399.8 million
Production and Delivery:
* Produced 49,476 vehicles in FY2023
* Delivered 51,579 vehicles in FY2023
* Produced 12,727 vehicles in Q4
* Delivered 14,183 vehicles in Q4
Partnership and Financing:
* Expanded partnership with Volkswagen (VWAGY) for midsize R2 SUV launch
* Secured $6.6 billion conditional loan commitment from the Department of Energy (DOE)
* Potential scrutiny of DOE loan by the Trump White House and Department of Government Efficiency (DOGE)
Regulatory Environment:
* Uncertain status of federal EV tax credit, which could impact pure-play automakers like Rivian
Analyst Outlook:
* Truist analyst Jordan Levy maintains a Hold rating and $14 price target
* Anticipating updates on future demand expectations, factory loan status, and EDV commercialization during earnings call