EV maker Rivian beats Q4 revenue estimates

Overview

• Electric vehicle maker's Q4 revenue beat analyst expectations

• Q4 automotive revenue fell 45% yr/yr due to lower deliveries and regulatory credit sales

• Software and services revenue more than doubled, driven by Volkswagen joint venture

Outlook

• Rivian expects to deliver 62,000 - 67,000 vehicles in 2026

• Company forecasts 2026 adj. EBITDA between $(2.10) bln and $(1.80) bln

• Rivian plans capital expenditures of $1.95 bln - $2.05 bln for 2026

• R2 VEHICLE PROGRESS - Successful pre-production of R2 vehicle with deliveries expected in Q2 2026

Result Drivers

• AUTOMOTIVE REVENUE DECLINE - Q4 automotive revenue fell 45% yr/yr due to lower deliveries and regulatory credit sales

• SOFTWARE AND SERVICES GROWTH - Software and services revenue more than doubled, driven by Volkswagen joint venture

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 11 "strong buy" or "buy", 12 "hold" and 6 "sell" or "strong sell"

• The average consensus recommendation for the auto & truck manufacturers peer group is "buy."

• Wall Street's median 12-month price target for Rivian Automotive Inc is $16.00, about 8.4% above its February 11 closing price of $14.76

Press Release: ID:nBw9FGJbTa

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