Rivian Automotive (RIVN) Tops Q1 EPS by 36c

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May 9, 2023 4:13 PM EDT

Rivian Automotive (NASDAQ: RIVN) reported Q1 EPS of ($1.25), $0.36 better than the analyst estimate of ($1.61). Revenue for the quarter came in at $661 million versus the consensus estimate of $655.51 million.

Outlook:

We remain focused on ramping production and implementing core technologies designed to drive cost down and improve the customer offering. Based on our latest understanding of the supply chain environment, we reaffirm the annual guidance provided during our fourth quarter and fiscal year 2022 earnings call of 50,000 total units of production, $(4,300) million in adjusted EBITDA, and $2,000 million in capital expenditures.

We continue to believe the supply chain will continue to be the main limiting factor of our Normal facility output. Our team continues to work on the introduction of new engineering design changes and key technologies which will take effect during the second half of 2023 to help mitigate anticipated supply chain constraints

For earnings history and earnings-related data on Rivian Automotive (RIVN) click here.


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