Rivian (RIVN) Q3 Earnings: What To Expect

Electric vehicle manufacturer Rivian (NASDAQ:RIVN) will be reporting earnings tomorrow after market hours. Here’s what to look for.

Rivian met analysts’ revenue expectations last quarter, reporting revenues of $1.16 billion, up 3.3% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ volume and operating margin estimates.

Is Rivian a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Rivian’s revenue to decline 25.9% year on year to $990.3 million, a reversal from the 149% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.89 per share.

Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 10 downward revisions over the last 30 days (we track 20 analysts). Rivian has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Rivian’s peers in the automobile manufacturers segment, some have already reported their Q3 results, giving us a hint as to what we can expect. General Motors delivered year-on-year revenue growth of 10.5%, beating analysts’ expectations by 9.9%, and Tesla reported revenues up 7.8%, falling short of estimates by 1%. General Motors traded up 8.2% following the results while Tesla was also up 22%.

Read our full analysis of General Motors’s results here and Tesla’s results here.

There has been positive sentiment among investors in the automobile manufacturers segment, with share prices up 2.7% on average over the last month. Rivian’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $16.42 (compared to the current share price of $10.57).

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