Rivian earnings, stock show they can be 'longstanding player' in EV space: Analyst
08/09/2023 04:36
Rivian (RIVN) shares dip after reporting narrower-than-expected losses in its second-quarter earnings. The EV maker slid past earnings expectations with revenue off $1.12 billion — against estimates of $1.01 billion — and losses of $1.08 per share — against estimated losses of $1.37 per share. Rivian raised its full-year production forecast to 52,000 EVs. Truist Securities Equity Research Analyst Jordan Levy states Rivian's ability to produce EVs, both efficiently and at a profit, remains "critical." Levy points out what investors should look out for in Rivian's earnings calls, explaining his own price target for the automaker.
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Barrons.com
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The EV start-up Rivian Automotive delivered second-quarter results that beat Wall Street estimates and raised its forecast for production for the full year. Tuesday evening, Rivian (ticker: RIVN) reported a per-share loss of $1.08 from sales of $1.1 billion, while Wall Street had been looking for a per-share loss of $1.43 from sales of $1.1 billion. A year ago, Rivian lost $1.62 a share from sales of just $95 million.