Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessRivian’s Cost Cuts and Production Progress Outshine Q3 Revenue Miss

Rivian’s Cost Cuts and Production Progress Outshine Q3 Revenue Miss

Add to Favorite
Added to Favorite


Electric vehicle manufacturer Rivian Automotive (NASDAQ:RIVN) posted its third-quarter results that missed analyst revenue expectations but showcased significant strides in cost reduction and production targets.
The company reported revenue of $874 million, below the anticipated $1.01 billion, and posted an adjusted loss per share of -$1.08, wider than the forecasted -$0.95. Despite these shortfalls, Rivian delivered 10,018 vehicles and produced 13,157 at its Illinois facility in Q3, reflecting steady production momentum.
Investors appeared encouraged by Rivian’s focus on achieving positive gross profit in Q4 2024, citing progress in revenue per unit, variable cost reductions, and fixed-cost efficiency. The company reaffirmed its full-year delivery goal of 50,500 to 52,000 vehicles.
Rivian CEO RJ Scaringe highlighted advancements in reducing the Gen 2 R1 cost structure, supported by new vehicle technologies and an optimized manufacturing process. However, Rivian lowered its 2024 production outlook to 47,000-49,000 vehicles due to component shortages and adjusted its annual adjusted EBITDA loss forecast to between $2.825 billion and $2.875 billion.

Subscribe to get Latest News Updates

Latest News

You may like more
more

Ulta Beauty Boosts Full-Year Outlook, Stock Rises 9 percent

Ulta Beauty (NASDAQ:ULTA) raised its full-year 2024 outlook, capitalizing...

Samsara Surpasses Q3 Expectations but Slowing Revenue Growth Weighs on Shares

Samsara (NYSE:IOT) delivered third-quarter results that exceeded Wall Street's...

Hewlett Packard Enterprise Surpasses Q4 Expectations with Record Revenue, Shares Gain 9 percent

Hewlett Packard Enterprise (NYSE:HPE) saw its shares climb over...

GitLab Posts Strong Q3 Results, Upbeat Guidance, and Leadership Change

GitLab (NASDAQ:GTLB) delivered strong fiscal third-quarter results, issued optimistic...