Rivian takes revenue hit as supplier problem persists
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Rivian reported third-quarter revenue of $874 million, which is over 12% lower than analysts' estimates due to a component shortage affecting production of its R1S and R1T vehicles.
November 07, 2024 | 9:30 pm
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NEGATIVE IMPACT
Rivian's Q3 revenue fell short of expectations by over 12% due to a component shortage affecting production of its R1S and R1T vehicles.
The revenue miss is significant as it highlights ongoing supply chain issues that are directly impacting Rivian's ability to meet production targets for its key products, the R1S and R1T. This is likely to negatively affect investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100