Why is Rivian stock trending today?
Rivian's stock is trending because it reported third-quarter financial results that beat Wall Street estimates. The company also raised its full-year guidance for vehicle deliveries and expected losses, driven by strong sales of its R2 SUV.
What happened
- 30 Oct, 00:36 UTC
Rivian shares rose approximately 7% in afterhours trading following the release of its third-quarter earnings report [1].
- Earlier today
The stock reached a new 52-week low of $11.38 before closing at $11.45 [1].
What you need to know
The R2 entry-level SUV has become the company's top-selling model by volume [1, 2].
Rivian raised its 2026 delivery guidance to between 67,000 and 70,000 units [1].
The company expects the R2 to achieve a positive gross margin by the end of the year [1].
Rivian reported a third-quarter revenue of $2.155 billion, a 38% increase from last year [2].
It is not confirmed exactly how many R2 units were included in the total delivery count, as the company does not disclose specific model deliveries [1].
Background
Rivian is an electric vehicle manufacturer that recently saw its R2 model become a primary driver of growth. The company reported record deliveries of 19,248 units between July and September [1].
While the company remains unprofitable, it has been narrowing its losses. Its third-quarter net loss was $913 million, which is an improvement from the $1.17 billion loss reported in the same period last year [1].
The company's cash position remains strong, with $5.5 billion in cash, cash equivalents, and short-term investments at the end of the quarter [1, 2].
Questions people ask
Why did Rivian improve its financial guidance?
The company cited higher revenue from regulatory credit sales, a tariff refund, and an expected increase in vehicle deliveries [1].
Is Rivian making a profit?
No, the company is still unprofitable overall, but it is working toward positive gross margins on its R2 model [1].
Where this came from
Found through Google Trends and drafted with AI from at least two cited sources. Published automatically after passing our automated checks for sources, wording and safety. It may not have been reviewed by a person yet. Report a correction.