Rivian (RIVN) Income Q4 2024
Rivian Automotive Beat Wall Street's winning expectations in the fourth quarter and achieved his first gross quarter-year profit-a goal that investors were observed-but predicted lower sales in 2025.
The electric vehicle manufacturer reported a gross profit that comprises production and sales, but took no other spending of $ 170 million in the last quarter of last year. Rivian said it planned to achieve another “modest gross profit” in 2025. It was not said when it was expected that it is profitable on the basis of.
For 2025, Rivian also expects this from the year.
Rivian's shares rose by about 7%on Thursday after trading after trading before they were rejected during the company's quarterly profit. The share closed at $ 13.61 per share, by 2.3%.
Rivian CEO RJ Scaringe told CNBC that the automotive industry “has a lot of uncertainty” in relation to the automotive industry, in particular the potential removal of federal incentives for electrical and customs guidelines that could affect the company.
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Shares of Rivian, Tesla and Lucid in 2025.
“We believe” Rivian said in a shareholder on Thursday.
For his guidelines from 2025, Claire McDonough, Chief Financial Officer from Rivian, took into account the company in the expected goals to its EBITDA due to less sales due to the expected removal of tax credits “hundreds of millions”.
Rivian said that investments this year expect between 1.41 billion US dollars between 1.41 billion US normal, Illinois, in the second half of the year to implement the new vehicles.
“We believe that R2 will be really transformative for our growth and profitability,” McDonough told investors during the profit.
The company carried out in the fourth quarter compared to average estimates that were put together by LSEG:
- Loss per share: 46 cents expected compared to a loss of 65 cents
- Revenue: 1.73 billion US dollars expected compared to 1.4 billion US dollars
From this quarterly report, Rivian is expanding its units “automobiles” and “software and services” for additional transparency for investors. The car manufacturer plans to further expand its software business, including a new joint venture with German car manufacturer Volkswagen.
The quarterly gross profit and sales of Rivian were supported by 299 million US dollars from the sale of regulatory loans as well as software and service income of $ 214 million. Rivian sells regulatory loans to other car manufacturers to help them meet the emission standards. However, future sales could be influenced by changing such regulations by the Trump management.
The company's net loss in the fourth quarter was $ 743 million or 70 cents per share compared to a loss of 1.52 billion US dollars or $ 1.58 per share in the same period in the previous year.
Rivian lost 4.75 billion US dollars or $ 4.69 per share for the whole year.
The turnover of Rivians 2024 was $ 4.97 billion, which rose in sales of around 12% compared to $ 4.43 billion in 2023. Sales with the fourth quarter rose by more than 31%compared to the same period in the previous year.
