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 .

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Disney earnings: What to expect when the Magic Kingdom reportsJon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter jswartz.
Source: MarketWatch - 🏆 3. / 97 Read more »

Earnings playbook: How to trade the biggest reports this week, including DisneyMore than 45 S&P 500 names are slated to report this week, including Disney, Biogen and D.R. Horton.
Source: CNBC - 🏆 12. / 72 Read more »

Horrid Q3 earnings report could hasten a bankruptcy filing from Dish says analystAlan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 11 Pro Max, he has seen smartphones evolve into a global phenomenon.
Source: PhoneArena - 🏆 322. / 59 Read more »

Dow futures trade lower, TripAdvisor lifts 11.9% after earningsDow futures trade lower, TripAdvisor lifts 11.9% after earnings
Source: Investingcom - 🏆 450. / 53 Read more »

Relaxed licensing helped fill classrooms, but lower earnings added to teacher turnoverWhile schools nationwide struggle to find enough teachers, one case study is pouring cold water on expedited licensure as a solution.
Source: komonews - 🏆 272. / 63 Read more »

RingCentral Earnings Edge Estimates and GuidanceThe company has been seeing an increasingly competitive environment in cloud-based communications.
Source: MarketWatch - 🏆 3. / 97 Read more »