Rivian Q1 Earnings Preview: Analyst Estimates, R2 Update, Key Production Focus Areas
Portfolio Pulse from Chris Katje
Rivian Automotive is set to report its Q1 financial results, with analysts expecting $1.16 billion in revenue and a loss of $1.17 per share. Despite a recent price target cut by Needham due to questions on long-term EV demand, Rivian's R1S model shows promising used vehicle pricing. The company's unveiling of the R2 and R3 models could expand its total addressable market, though the R2 is not seen as an immediate catalyst. Analyst ratings vary, with price targets ranging from $9 to $23. Key focuses include production/delivery updates and cost efficiency metrics. Rivian's stock is currently down 56% YTD.
May 06, 2024 | 9:32 pm
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NEUTRAL IMPACT
Rivian is anticipated to report Q1 earnings with expected revenue of $1.16 billion and a per-share loss of $1.17. Analyst sentiment is mixed, with recent price target adjustments reflecting concerns over long-term EV demand but acknowledging Rivian's potential in the EV market. The focus will be on production, delivery updates, and cost efficiency.
Rivian's Q1 earnings report is crucial for assessing its financial health and market position. Analysts' mixed sentiments and the recent price target adjustments reflect uncertainty and varied expectations. The focus on production and delivery updates, along with cost efficiency metrics, will be key for investors assessing Rivian's operational efficiency and growth trajectory. The anticipation of these results, coupled with the broader market's reaction to EV demand and Rivian's strategic moves, suggests a neutral short-term impact on RIVN's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100