Rivian Delivers Strong Q4 Results, Despite Economic Headwinds

Rivian (RIVN) reported solid fourth-quarter financial results, surpassing analysts' expectations in key metrics. Notably, the company achieved positive gross profit for the quarter.

Financial Highlights:

* Gross profit of $170 million, driven by cost improvements across the business.
* Revenue of $1.73 billion, exceeding consensus estimates and representing a 32% year-over-year increase.
* Adjusted loss per share of $0.46, beating forecasts.
* Adjusted EBITDA loss of $277 million, better than projected.

Production and Deliveries:

* Produced 12,727 vehicles and delivered 14,183 vehicles in Q4.
* For 2024, produced 49,476 vehicles and delivered 51,579 vehicles.

Outlook and Guidance:

* 2025 adjusted EBITDA loss projected between $1.7 billion and $1.9 billion.
* Vehicle deliveries expected to range from 46,000 to 51,000 units.
* Company anticipates lower deliveries in Q1 due to seasonality and wildfire impacts.

Investment and Partnerships:

* Expansion of partnership with Volkswagen, utilizing Rivian's electrical architecture for the upcoming R2 SUV.
* Conditional commitment for a $6.6 billion loan from the Department of Energy.
* Opening of orders for EDV commercial delivery van.

Analyst Commentary:

Analysts remain cautiously optimistic about Rivian's outlook, despite macro headwinds and uncertainties surrounding EV tax credits.

Additional Notes:

* Rivian Automotive is recalling 17,260 vehicles due to a headlight issue that affects visibility.
* This story has been updated to correct previous errors in financial figures.