Rivian Automotive Inc (RIVN) PT Lowered to $65 at RBC Capital
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EV Rivian (RIVN) Shares Fall Following Earnings, Analyst Concerned About Supply Chain Impact
March 11, 2022 8:23 AM ESTShares of Rivian (NASDAQ: RIVN) are trading 9% in the red in pre-open Friday after the company reported Q4 results.
RIVN reported an adjusted loss per share of $2.43 in the fourth quarter, compared to the estimated loss per share of $2.05. The company reported revenue of $54 million in the period, below the consensus estimates of $64 million.
Capital expenditure totaled $455 million in the period, while adjusted net loss came to $1.24 billion. Fourth-quarter EBITDA loss was reported at $1.11 billion, versus $341 million loss.
For the full fiscal 2022, Rivian said it expects an adjusted EBITDA loss of... More
