Rivian Q3 earnings preview: With EV tax credit expiring, focus turns to upcoming R2 midsize SUV

Core Viewpoint - Rivian is set to report its third quarter earnings, focusing on its path to profitability amidst challenges such as the loss of federal electric vehicle tax credits [1] Financial Performance - For the third quarter, Rivian is expected to report revenue of $1.49 billion, which is relatively unchanged from the previous year [2] - The company is projected to post an adjusted loss per share of $0.71 and an adjusted EBITDA loss of $570.7 million [2] - Last quarter, Rivian did not report a gross profit, marking a setback after two consecutive quarters of gross profit [3] - The full-year loss projection has been widened, with adjusted 2025 full-year EBITDA loss now estimated between $2 billion and $2.25 billion, up from a previous range of $1.7 billion to $1.9 billion [3] Production and Delivery - In Q3, Rivian produced 10,720 vehicles and delivered 13,201 vehicles, aligning with expectations for a strong quarter [3] - The delivery guidance for 2025 has been narrowed to a range of 41,500 to 43,500 vehicles, down from a prior range of 40,000 to 46,000 vehicles [3] - The original delivery target for 2025 was between 46,000 and 51,000 vehicles [3] Product Development - The upcoming R2 midsize crossover is crucial for boosting Rivian's sales, with a planned release in 2026 [4] Stock Performance - Rivian's stock has experienced volatility, currently down 4% year to date [5]