Rivian Reports Earnings Today. What to Expect.

Stock in electric vehicle start-up Rivian Automotive, and shares of peers, are tanking due to fears that EV revolution is more of a technological skirmish than a sea change.

A loss won’t surprise investors. But they will want to see improvement, especially with respect to cash flow. Rivain is expected to use about $1.1 billion in the quarter, down from $1.6 billion used in the second quarter of 2023. Wall Street projects cash use of about $1 billion to $1.4 billion for each of the next few quarters.

In August, management said it expected the company to produce some 52,000 units in 2023. Results from the first nine months of the year mean only about 12,300 are needed in the fourth quarter to hit that guidance. Through midday trading Monday, Rivian shares were down about 32% over the past three months while the S&P 500 and Nasdaq Composite were both off about 3%. Investors have been worried about slowing EV demand after weak earnings reported by Tesla on Oct. 18. That report was followed by Ford Motor and General Motors slowing EV-related spending and weak fourth-quarter sales guidance from EV supplier ON Semiconductor .

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