Rivian (RIVN) earnings Q4 2021
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Rivian signage displayed at Nasdaq’s IPO day in New York, November 10, 20,21.
Rivian
Rivian AutomotiveAs the start-up of electric vehicles struggles with supply chain limitations and internal production issues, it expects to make 25,000 units this year.
According to the company’s fourth-quarter report, Thursday’s production increase will be offset by an operating loss in excess of $4.75 Billion and capital expenses of $2.6 Billion.
Below is a comparison of Rivian’s performance with analyst estimates, as collected by Refinitiv.
- Share loss adjusted:Expect $2.43 to $1.97 per share
- Revenue: $54 million vs. $60 million expected
Although financial results have been disappointing, the focus should be on company guidance and changes that may need to be made in light of problems with global supply chains. Russia’s invasion of Ukraine and significant cost increases in crucial raw materials for its EVs.
Refintiv consensus estimations for 2022 put Rivian’s full-year adjusted lost per share at 4.97, and its revenue at around $3.16billion.
Wall Street will be watching Rivian’s customer reservations as well as its progress in simultaneously producing three products at its Normal, Illinois plant. Customers will receive an electric pickup or SUV and an electric delivery vehicle. First orders go to Amazon, which owns a 20% interest in the EV-startup.
Rivian’s shares fell by 60% after it went public. missed production targetsFor 2021. Stock closed at $41.16 per share on Thursday, down 6.4% from its 52-week high.
This is important breaking news. Keep checking back for more updates.
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