Rivian electrical pickup vehicles take a seat in a carpark at a Rivian provider heart on May 09, 2022 in South San Francisco, California.
Justin Sullivan | Getty Images
Electric car maker
But it trimmed its full-year monetary outlook, announcing that buyers will have to now be expecting a much wider loss and decrease capital expenditures than it had prior to now forecast.
Here are the important thing numbers from Rivian’s second-quarter document, when compared with reasonable Wall Street analyst expectancies as complied through Refinitiv:
- Revenue: $364 million as opposed to $337.5 million anticipated.
- Adjusted loss in keeping with proportion: $1.62 as opposed to an anticipated adjusted lack of $1.63 in keeping with proportion.
The inventory used to be down kind of 5% in prolonged hours after the report back to business beneath $38. It
Rivian stated that it had about 98,000 internet preorders for its R1-series truck and SUV as of June 30. It had “over 90,000” preorders as of May 11, when it reported its
Rivian showed on Thursday that it nonetheless expects to make about 25,000 cars in 2022, in keeping with the
It additionally stated it expects $2 billion in capital expenditures for the entire 12 months, down from $2.6 billion in its May steering.
Rivian had $14.9 billion in money and equivalents last as of June 30, down from $17 billion as of March 31.
Rivian stated on July 6 that it
This is a growing tale. Please test again for updates.
Source Link: https://www.cnbc.com/2022/08/11/rivian-rivn-earnings-q2-2022.html