Rivian Q3 2024 Earnings Report
Summary
Rivian Automotive exceeded Wall Street expectations for Q3 2024, reporting its second quarterly gross profit of the year. This was driven by a joint venture with Volkswagen and strong performance in software and services, which offset losses in its core automotive operations.
Key Points
- Earnings & Revenue: Adjusted loss per share was 65 cents vs. 72 cents expected. Revenue was $1.56 billion vs. $1.5 billion expected.
- Gross Profit: Achieved $24 million, significantly beating estimates of a $38.6 million loss.
- Stock Performance: Stock rose over 3% in after-hours trading, though it is down ~6% year-to-date.
- Automotive Operations: Reported a $130 million loss, a $249 million improvement from the previous year.
- Profit Offsets: The automotive loss was offset by $154 million from the VW joint venture and software/services.
- 2025 Guidance: Maintained: Adjusted EBITDA loss of $2B-$2.25B; Capex of $1.8B-$1.9B; Vehicle deliveries of 41,500-43,500; Gross profit around breakeven.
- R2 Production: Reaffirmed for first half of 2025 at its Illinois plant.
- Financial Position: Ended Q3 with $7.7 billion in total liquidity.
- Supply Chain: Does not expect Chinese rare earth minerals or Nexperia chips to delay R2 launch.
- Tariff Impact: Lowered expected tariff cost per vehicle from “a couple thousand dollars” to “hundreds of dollars”.
Rivian 2024年第三季度财报
总结
Rivian Automotive 2024年第三季度业绩超出华尔街预期，并报告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以及软件和服务业务的强劲表现，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，预期为72美分。收入为15.6亿美元，预期为15亿美元。
- 毛利润：实现2400万美元，大幅超出预期（预期为亏损3860万美元）。
- 股票表现：盘后交易中股价上涨超3%，但年初至今下跌约6%。
- 汽车业务：报告亏损1.3亿美元，但较去年同期改善了2.49亿美元。
- 利润抵消：汽车业务亏损被来自大众合资企业及软件和服务的1.54亿美元收入所抵消。
- 2025年展望：维持不变：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41,500-43,500辆；毛利润大致持平。
- R2生产：重申于2025年上半年在其伊利诺伊州工厂生产。
- 财务状况：第三季度末总流动性为77亿美元。
- 供应链：预计中国的稀土矿物或Nexperia芯片不会延迟R2的发布。
- 关税影响：将每辆新车的预期关税成本从”数千美元”下调至”数百美元”。
Original Article Link: https://www.cnbc.com/2025/11/04/rivian-rivn-earnings-q3-2025.html