Rivian Automotive(US:RIVN) Yahoo Finance·2025-11-05 18:39Core Viewpoint - Rivian's stock surged after reporting third-quarter results that exceeded estimates, driven by a significant increase in revenue and vehicle deliveries despite challenges from the loss of federal electric vehicle tax credits [1][2]. Financial Performance - Rivian reported third-quarter revenue of $1.55 billion, surpassing the Bloomberg consensus estimate of $1.49 billion, marking a 78% increase year-over-year due to a pull-forward in deliveries [1]. - The company posted a loss per share of $0.65, better than the estimated loss of $0.71, while the adjusted EBITDA loss was $602 million, slightly worse than the estimated $570.7 million [2]. - Gross profit for the quarter was $24 million, recovering from a loss in the previous quarter, although the company maintained its full-year loss projection [3]. Production and Delivery - In Q3, Rivian produced 10,720 vehicles and delivered 13,201 vehicles, aligning with expectations for a strong quarter [4]. - The company reiterated its 2025 delivery guidance, narrowing the range to 41,500 to 43,500 vehicles from a previous range of 40,000 to 46,000 vehicles [4]. Strategic Initiatives - The development of the R2 midsize crossover is crucial for boosting sales, with production on track for release in the first half of 2026 [5]. - Rivian has completed the installation of equipment for the R2 body shop and expects to begin manufacturing validation builds by year-end, with paint shop upgrades increasing capacity to 215,000 units per year [5]. Market Outlook - Analysts remain optimistic about Rivian's long-term vision, highlighting the company's efforts to ramp up R2 and midsize platform supply chains while navigating macroeconomic challenges in the EV landscape [6].