The earnings call presented a mix of significant achievements in cost reductions and strategic partnerships, but also highlighted challenges in supply chain management and financial losses. While there is optimism about future profitability and product launches, the current financial performance remains challenging.

Company Guidance

In the third quarter of 2024, Rivian faced several challenges but made notable progress in cost efficiency and technological advancements. The company produced 13,157 vehicles and delivered 10,018, generating $874 million in revenue. Despite a negative gross profit of $392 million, improvements in material costs and efficiency are projected to enable a 20% material cost reduction by Q4 2024. Rivian maintains its annual production guidance of 47,000 to 49,000 vehicles and projects a positive gross profit for Q4 2024. The company anticipates $300 million in regulatory credit sales for the year and remains focused on launching its R2 program, with 85% of its bill of materials sourced, targeting a starting price of $45,000. Rivian also continues to develop its joint venture with Volkswagen, promising further growth and efficiency improvements.

Gen 2 R1 Material Cost Reduction

Achieved a meaningful reduction in second-generation R1 material cost compared to the first generation, aligning with the target of a 20% material cost reduction from Q1 2024 to Q4 2024.

R2 Program Progress

Sourced 85% of the bill of materials for the R2 program, with costs within aggressive targets, expecting a 45% reduction relative to R1 on a like-for-like basis.

Positive Steps Toward Gross Profitability

Guiding towards a modest GAAP gross profit in Q4 2024, driven by increased non-vehicle revenues and material cost improvements.

Volkswagen Joint Venture

Continued progress with the joint venture with Volkswagen, providing important funding for Rivian's growth and expansion plans.

Cost Efficiency Initiatives

Reported the lowest GAAP operating expenses in three years at $777 million for Q3 2024.

Regulatory Credit Sales

Anticipates $300 million in regulatory credit sales in 2024, providing significant revenue boost.

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Rivian Automotive, Inc. (DE:99U) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:99U Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 16, 2021	2021 (Q3)	-1.29 / -7.45	-0.31	-2300.94% (-7.14)	―	―
Mar 10, 2022	2021 (Q4)	-1.82 / -2.36	-0.38	-519.90% (-1.98)	―	―
May 11, 2022	2022 (Q1)	-1.44 / -1.37	-0.446	-208.26% (-0.93)	―	―
Aug 11, 2022	2022 (Q2)	-1.58 / -1.57	-0.64	-145.45% (-0.93)	―	―
Nov 09, 2022	2022 (Q3)	-1.74 / -1.52	-7.448	79.57% (+5.93)	―
Feb 28, 2023	2022 (Q4)	-1.90 / -1.68	-2.356	28.81% (+0.68)	―
May 09, 2023	2023 (Q1)	-1.57 / -1.21	-1.375	11.85% (+0.16)	―
Aug 08, 2023	2023 (Q2)	-1.38 / -1.05	-1.571	33.33% (+0.52)	―
Nov 07, 2023	2023 (Q3)	-1.30 / -1.15	-1.522	24.20% (+0.37)	―
Feb 21, 2024	2023 (Q4)	-1.31 / -1.32	-1.677	21.39% (+0.36)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:99U Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	€9.40	€9.50	+1.06%
Aug 06, 2024	€13.70	€12.60	-8.03%
May 07, 2024	€9.80	€8.75	-10.71%
Feb 21, 2024	€13.98	€10.68	-23.61%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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