Rivian (RIVN) Q3 2024 earnings results miss revenue expectations on larger than expected loss
The Rivian company failed to beat analyst expectations on key metrics in its latest quarter.
As one of the other notable electrical vehicle companies in the market right now, Rivian is an interesting company to watch. Unfortunately, it’s still having trouble keeping its legs under it in its latest fiscal quarter. For Q3 2024, Rivian reported lower revenue than expected, and it posted larger-than-expected losses on earnings-per-share (EPS).
Rivian released its Q3 2024 earnings results on its investor relations website this week. For revenue, Rivian posted a bottom line of $874 million. That was quite a bit lower than the $990 million that was expected by Wall Street analysts. On the EPS side, Rivian’s bottom line was a loss of $0.99 per share. The actual outcome was a bit worse than the expectation that was set at $0.92 per share.
Source: Google
This is far from the first quarter where Rivian has posted a loss on EPS, but the company usually finds its way to a win on revenue versus expectations form quarter to quarter. This is one of the first times the company has missed revenue estimates since Q3 2022. Other than that, the company has been able to stay ahead of expectations quarter to quarter for quite a long time.
Rivian also continues to be one of the few stand-out electric vehicle companies operating in the field. With that in mind, stay tuned for more electric vehicle news and coverage on Rivian and more as it drops.
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replyTJ Denzer posted a new article, Rivian (RIVN) Q3 2024 earnings results miss revenue expectations on larger than expected loss
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/{Rivian also continues to be one of the few stand-out electric vehicle companies operating in the field}/
Stand out at what, burning money? they have lost billions and still can only produce 50,000 vehicles a year.
I will be shocked if the survive another 2 years in the consumer market.
I think Amazon will just eat the losses and let them keep making the electric vans.-
Rivian makes a decent enough product. They don’t do it at a profit. Which is a huge problem and why I don’t own the stock. I do think the United States needs an EV alternative to Tesla.
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I just leased a R1S. The sound system is fucking garbage (i have the "premium" upgrade), but everything else is really nice compared to my old Model Y.
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Probably smart to lease the thing.
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Tesla lost money as well?
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Absolutely. And they diluted shareholders with capital raises to survive. Which is why I don't own RIVN right now, but I would if I feel the cash flow statement is in better shape.
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