Rivian Q3 2024 Earnings Report
Summary
Rivian Automotive reported better-than-expected third-quarter results, achieving its second quarterly gross profit of the year. This was driven by a joint venture with Volkswagen and its software/services business, offsetting losses in its core automotive operations.
Key Points
- Earnings & Revenue: Adjusted loss per share of 65 cents, beating the expected 72 cent loss. Revenue was $1.56 billion, surpassing the $1.5 billion estimate.
- Gross Profit: Reported $24 million, a significant beat versus an expected $38.6 million loss. This included a $130M automotive loss offset by $154M from the VW JV and software/services.
- Stock Performance: Shares rose over 3% in after-hours trading.
- 2025 Guidance: Maintained its outlook: an adjusted EBITDA loss of $2B-$2.25B, capital expenditures of $1.8B-$1.9B, and vehicle deliveries of 41,500-43,500 units. It now expects gross profit to be around breakeven.
- Financial Health: Ended the quarter with $7.7 billion in total liquidity, providing a strong position for the upcoming R2 vehicle launch.
- R2 Production: Reaffirmed production timing for the first half of next year in Illinois. Supply chain issues regarding Chinese minerals or Nexperia chips are not expected to cause delays.
- Tariff Impact: Lowered its expected tariff cost per vehicle from “a couple thousand dollars” to “hundreds of dollars” due to recent policy changes.
Rivian 2024年第三季度财报
总结
Rivian Automotive公布的第三季度业绩超出预期，并实现了今年第二个季度的毛利润。这主要得益于与大众汽车的合资企业及其软件/服务业务，抵消了其核心汽车业务的亏损。
关键点
- 盈利与收入：调整后每股亏损65美分，优于预期的72美分亏损。收入为15.6亿美元，超过15亿美元的预期。
- 毛利润：报告为2400万美元，远超预期的3860万美元亏损。其中包括1.3亿美元的汽车业务亏损，但被来自大众合资公司及软件/服务的1.54亿美元所抵消。
- 股票表现：盘后交易中股价上涨超过3%。
- 2025年展望：维持其指引：调整后EBITDA亏损20-22.5亿美元，资本支出18-19亿美元，车辆交付量41,500至43,500辆。目前预计毛利润约为盈亏平衡。
- 财务健康：季度末总流动性为77亿美元，为即将推出的R2车型提供了强劲的资金支持。
- R2生产：重申了明年上半年在伊利诺伊州工厂开始生产的时间表。预计中国的稀土矿物或Nexperia芯片的供应链问题不会造成生产延迟。
- 关税影响：由于近期政策变化，将每辆新车的预期关税成本从”每单位数千美元”下调至”每单位数百美元”。
Original Article Link: https://www.cnbc.com/2025/11/04/rivian-rivn-earnings-q3-2025.html