3 Rivian Analysts On Q2 Earnings: EV Production, Margins Shine, But Is 'Cash Burn' Ahead?
Portfolio Pulse from AJ Fabino
Rivian Automotive Inc (NASDAQ:RIVN) reported Q2 earnings with revenue of $1.12 billion, beating the consensus estimate of $978.9 million. The company's operating expenses decreased from $1 billion YoY to $873 million. Rivian produced 13,992 vehicles in Q2, with 12,640 successful deliveries. Analysts from BofA, Mizuho, and Cantor Fitzgerald reiterated their ratings on the stock, with BofA and Mizuho raising their price targets.
August 09, 2023 | 4:13 pm
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POSITIVE IMPACT
Rivian's Q2 earnings beat estimates, with increased production and decreased operating expenses. Analysts maintain positive outlook.
Rivian's better-than-expected Q2 earnings, increased production, and decreased operating expenses are positive indicators for the company's performance. This is likely to have a positive impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100