Rivian (RIVN) Q4 2021 earnings

Rivian’s signage at Nasdaq on the day of their IPO, November 10, 2021 in New York.

Source: Rivian

Rivian Automotive is expected to produce 25,000 vehicles this year, as the battle kicks off electric vehicles through supply chain constraints and in-house production difficulties.

The production increase will be accompanied by an operating loss of $4.75 billion and capital expenditures of $2.6 billion this year, the company forecast on Thursday when it reports fourth-quarter results.

Shares of the automaker fell more than 13% in after-hours trading. The drop followed the stock hitting a 52-week low on Thursday before closing at $41.16 per share, down 6.4% on the day.

Here’s how Rivian performs, compared with analyst estimates compiled by Refinitiv:

  • Adjusted loss per share: $2.43 vs. $1.97 per share expected
  • Revenue: $54 million vs. $60 million expected

For 2022, Refintiv’s consensus estimates put Rivian’s full-year adjusted loss per share at $4.97 and revenue at around $3.16 billion. Rivian did not disclose revenue forecasts.

Shares of Rivian, announced in November, are down about 60% this year, after the company production target missed for the year 2021.

This is breaking news. Please check back for updates.

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