Investor Relations

The upcoming earnings release of Rivian Automotive will be of great interest to investors. The company’s earnings report is expected on February 21, 2024. The company’s upcoming EPS is projected at -$1.39, signifying a 19.65% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.29 billion, showing a 94.13% escalation compared to the year-ago quarter. Rivian is targeting a lucrative market with its R1T pickup, and the truck’s impressive features could speed up sales.

1. 22 equities research analysts have issued 12 month target prices for Rivian Automotive’s stock.
2. New legislation awaiting President Joe Biden’s signature will provide $7.5 billion in federal grants to build a national network of electric vehicle charging stations, and Rivian could stand to benefit.
3. You could buy a few shares for $30 each, but if the stock jumps to $150, you couldn’t buy any.
4. Its last market close was $15.31 – a decrease of 2.23% over the previous day.
5. That’s because the company is aiming to be gross profit positive in 2024, which means production needs to accelerate, perhaps even double during 2024.

For example, it may not be worth the risk if you think you will need that money in less than five years. The company is seeking to raise https://traderoom.info/ $1.3bn even as it ended 2022 with $12bn on its balance sheet. Rivian’s independent registered public accounting firm is KPMG LLP.

While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.

Dozens of hires from Ford, Tesla, and U.K.-based McLaren Automotive Ltd., plus about 50 from a struggling California-based rival, Faraday Future, filled key positions. Longtime Apple Inc. (AAPL) VP Mike Bell, who played a leading role in launching the iPhone, became Rivian’s first chief technology officer (CTO). Head of design Jeff Hammoud previously held the same position at Jeep, the Times notes. « Putting the right team of people together [is the] absolute core of our business, » Scaringe told The Verge in 2018. « As an organization, I spent a huge amount of my time thinking about the way we operate, the way we make decisions,” he added.

Besides its fleet business, Rivian beat Tesla, GM and Ford to the market with a fully electric pickup, the R1T. It plans to launch a seven-passenger battery-electric SUV, the R1S, in December, according to an October prospectus. If you have an IRA chock-full of technology stocks, adding Rivian may overbalance that sector. On the other hand, it might be something to consider if you have a well-diversified portfolio and want to put a small amount of money into Rivian after reviewing the company’s financial information. Look at competitors, car reviews for the emerging EV models, and company health indicators, such as debt and revenue. You’ll need to add money to the account and then search for « RIVN » within the brokerage’s platform.

Read more about electric vehicles, batteries and chips from CNBC Pro

The size of the IPO and the rapid rise in Rivian’s stock price reflects investors’ excitement about the EV market, especially for startups seeking to develop EVs that compete with traditional automakers. Rivian’s IPO is one of the largest in history, despite only having produced a few hundred electric vehicles since the start of production in mid-September. It’s an indication of how investors are, in general, valuing EVs—widely perceived to be the future of transportation. “Rivian’s products are not really meant to be work trucks,” counters Stephanie Brinley, principal automotive analyst with IHS Markit, per the Times. “They aim to be lifestyle products, capable but meant for recreational use,” she elaborated.

Rivian Releases Fourth Quarter and Full Year 2022 Financial Results

Scaringe said he started the company 12 years ago by himself. Now Rivian has 9,500 employees, including over 3,400 in Normal. Five years after first appearing in Normal as a mysterious startup, the electric automaker Rivian on Wednesday started a new chapter as a publicly traded company.

Rivian Sets Date for Release of Fourth Quarter and Full Year 2022 Results

And by offering products and services that inspire people to explore and enjoy our world, we hope to also inspire them to want to protect it. After building 16,304 vehicles in the third quarter, Rivian raised its 2023 production guidance to 54,000. There’s a substantial federal tax break for American EVs, with some buyers eligible for $7,500 in credit. But many EVs are too expensive to qualify for the full benefit, with the price cap falling at $55,000 for cars and $80,000 for trucks.

Additionally, the R1T has a headstart, considering that Ford’s F-150 Lightning and Tesla’s Cybertruck aren’t expected to hit the market until next year. The global market for pickup trucks is on course to surpass $207 billion by 2026 from $166 billion in 2019. Rivian will make its electric vans, trucks and SUVs in Normal. It’s become one of McLean County’s Top 3 largest employers almost overnight. Samsung, which is Rivian’s battery supplier, is reportedly considering building a battery plant in Normal too.

Consider that in 2020 United Parcel Service ordered 10,000 electric delivery vans from Arrival, with the latter struggling enough for UPS to consider new electric van sources. Rivian stock will start trading on Nov. 10, but the exact time hasn’t been revealed yet. The company reserved 7 percent of its IPO shares for customers who have preordered its R1T pickup or R1S SUV. It also reserved 0.4 percent of the IPO shares for retail investors through online broker SoFi.

Vehicle sales

Rivian and Tesla are driving up demand with unique products offered at a value to the customer. With new affordable electric models hitting the market next year, including the Volvo EX30 (see our review), expect EV demand to continue climbing even higher. Other automakers, including Ford and GM, have delayed investments, but Rivian’s vehicles are unique.

That’s because the company is aiming to be gross profit positive in 2024, which means production needs to accelerate, perhaps even double during 2024. As of December 2021, Rivian is a public company trading ig forex broker review under the symbol RIVN on the Nasdaq stock exchange. As of December 2021, Rivian reported that it has over 71,000 pre-orders for its R1 models.[40] They produced a total of 24,337 cars in 2022.

At close to $70 billion, Rivian’s market capitalization would approach that of Ford Motor, which is valued at $80 billion and sold more than four million vehicles worldwide last year. An investment or brokerage account is where you’ll invest and hold your assets. The process takes about 15 minutes, and once your account is open and funded, you’ll be ready to buy stocks, funds and other investments. The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Rivian’s total book value, the difference between its assets and liabilities, was $5.5 billion as of June 30, 2021.

He also has valuation concerns, and thinks investors may be better off getting exposure to Rivian through Ford instead of owning Rivian stock directly. The initial public offering (IPO) will raise $11.9 billion in funding for the company, which is in the middle of an expensive production ramp-up in Normal. While Tesla CEO Elon Musk is noted for making, and missing, bold production and sales forecasts, Scaringe is more conservative.

As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability. Rivian (RIVN 1.44%) is a young automaker in the midst of a slowdown in EV growth in the U.S. market. Because of that, investor focus on the company’s production, deliveries, and cash burn has been magnified — and rightfully so. One of the most anticipated initial public offerings of the year takes place today as Rivian Automotive makes its market debut. In the period from 2018 to 2019, Rivian more than doubled its workforce to 750, according to The Verge.