Rivian Automotive Inc. is slated to report first-quarter results after the bell on Tuesday, with investors expecting a wider quarterly loss for electric-vehicle maker as it continues to struggle with its production ramp and has yet to unveil a newer, cheaper EV.
The main worry about Rivian RIVN is that, near term, there’s little to boost the stock, and plenty to give investors pause. “The key question is whether Rivian’s 2023 production guidance of 50,000 units is achievable,” Nelson said. Revenue: The analysts surveyed by FactSet are calling for sales of $657 million for Rivian, which would compare with $95 million in the first quarter of 2022. Estimize sees Rivian posting slightly higher revenue, at $671 million.
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