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Rivian Loses How Much? How to Evaluate EV Stocks.

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When looking at third-quarter earnings “beats” and “misses” don't forget to think about the bigger picture.

As third-quarter numbers start to roll in, investors should be asking themselves whether electric vehicle profits and losses make sense.

Take Rivian Automotive . Wall Street expects an operating loss of about $1.4 billion in the third quarter, but the losses shouldn’t surprise anyone. The car business is a scale business. Tesla wasn’t consistently profitable until it was selling roughly 100,000 units per quarter. Ford Motor , one of the only traditional auto makers that discloses profits and losses by vehicle type, reported an operating loss of about $32,000 per car in its EV business in the second quarter. It sold about 34,000 all-electric vehicles and hybrids in the quarter.

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