Wall Street is looking for Rivian to hit $1 billion in quarterly revenue and keep a lid on costs.
Rivian Automotive Inc. is slated to report second-quarter earnings after the bell on Tuesday, with Wall Street expecting the EV maker’s revenue to hit $1 billion after blowout quarterly production and sales numbers.
Rivian RIVN last month surprised Wall Street by reporting second-quarter sales that were up about 60% quarter-on-quarter, and production about 50% higher as well, and crucially kept its 2023 production guidance of 50,000 vehicles. “Rivian’s losses have progressively dropped and their losses on net income will need to be under $1 billion in the quarter to keep investors happy,” Fiorani said.Earnings: Analysts polled by FactSet expect Rivian to report an adjusted loss $1.43 a share, which would be narrower than the loss of $1.62 a share in the second quarter of 2022.
That outperformance holds so far this year, albeit less so — the stock is up about 37% so far this year, and the S&P has gained around 17%. Investors also will be keen to see if Rivian continues to be on a road to recovery from supply-chain-related production problems earlier this year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ted Pick, the Wall Street trader likely to be Morgan Stanley's next CEOMeet Ted Pick, the hard-charging 'deal junkie' who looks poised to succeed James Gorman as CEO of Morgan Stanley
Read more »
The Wolf Of Wall Street's Lamborghini Countach To Be Sold In December | CarscoopsFortunately, this Lamborghini Countach 25th Anniversary edition isn't the one that was crashed in the film car auto cars
Read more »
Stock futures are little changed as Wall Street comes off a losing week: Live updatesLast week was the worst for the S&P 500 and Nasdaq Composite since March.
Read more »
These 'best-in-class' stocks could bolster your portfolio as market unease resurfaces, analysts sayWall Street analysts say investors should buy these stocks.
Read more »
Analysts are getting bullish on these companies reporting earnings this weekWall Street analysts forecast these companies seeing upsides following their quarterly earnings announcements.
Read more »