Analyst Projections, R2 Revision, Critical Production Areas of Focus

Rivian Automotive (NASDAQ:RIVN) is gearing up to release its first-quarter financial results after the market closes on Tuesday, and investors are eagerly anticipating the numbers. Analysts are estimating that Rivian will report revenue of $1.16 billion for the quarter, a significant increase from the $661.0 million reported in the same quarter last year.

Despite facing some challenges in the past, Rivian has managed to beat revenue estimates from analysts in seven out of the last 10 quarters. Analysts are also expecting the company to report a loss of $1.17 per share for the first quarter, compared to a loss of $1.25 per share in the same quarter last year.

One of the key areas of focus for investors and analysts will be production and delivery updates. Rivian previously announced that it produced 13,980 vehicles and delivered 13,588 vehicles in the first quarter. The company’s full-year production guidance of 57,000 vehicles will also be closely watched.

Additionally, investors will be looking for updates on the recently unveiled R2 and R3 vehicles, as well as information on reservation numbers for the R2. The company’s focus on cost efficiency and gross profit per delivered vehicle will also be important metrics to monitor in the upcoming results.

Rivian shares are currently trading at $10.33, down 56% year-to-date in 2024. Analysts have mixed ratings on the stock, with price targets ranging from $9 to $23. Overall, the upcoming earnings report will provide valuable insights into Rivian’s performance and future prospects in the competitive electric vehicle market.