Electric vehicle manufacturer Rivian (NASDAQ: RIVN) will be reporting earnings this Tuesday afternoon. Here’s what investors should know.
Rivian beat analysts’ revenue expectations by 24.3% last quarter, reporting revenues of $1.24 billion, up 3% year on year. It was an incredible quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Rivian a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Rivian’s revenue to grow 10.3% year on year to $1.28 billion, improving from the 3.3% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.64 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Rivian has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Rivian’s peers in the automobile manufacturing segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Ford delivered year-on-year revenue growth of 5%, beating analysts’ expectations by 7.8%, and Winnebago reported a revenue decline of 1.4%, falling short of estimates by 0.8%. Ford traded up 1.6% following the results while Winnebago was down 8.5%.
Read our full analysis of Ford’s results here and Winnebago’s results here.
Investors in the automobile manufacturing segment have had steady hands going into earnings, with share prices flat over the last month. Rivian is down 2.7% during the same time and is heading into earnings with an average analyst price target of $14.76 (compared to the current share price of $12.40).
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