Overview

* Rivian Q3 revenue grows 78% yr/yr, beating analyst expectations

* Company reports $24 mln consolidated gross profit, a $416 mln improvement yr/yr

* Rivian prepares for R2 launch in 2026, expanding manufacturing capacity

Outlook

* Company expects 2025 vehicle deliveries between 41,500 and 43,500

* Rivian projects 2025 capital expenditures of $1,800 mln to $1,900 mln

* Company plans to launch R2 model in first half of 2026

Result Drivers

* AUTOMOTIVE REVENUE - Driven by increased vehicle deliveries and higher average selling prices

* SOFTWARE REVENUE - Surge due to new vehicle electrical architecture and software services

* R2 PROGRESS - On track for 2026 launch with new facilities and capacity expansion

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $1.55 $1.49

Revenue bln bln (22

Analysts

)

Q3 $1 bln

Operatin

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 11 "strong buy" or "buy", 15 "hold" and 3 "sell" or "strong sell"

* The average consensus recommendation for the auto & truck manufacturers peer group is "buy."

* Wall Street's median 12-month price target for Rivian Automotive Inc ( RIVN ) is $14.00, about 5.8% above its November 3 closing price of $13.19

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)