Electrical car firm Rivian Automotive (NASDAQ:RIVN) will report first-quarter monetary outcomes after market shut Tuesday.
Listed here are the earnings estimates, what analysts are saying and key objects to observe.
Earnings Estimates: Analysts anticipate Rivian to report first-quarter income of $1.16 billion, in response to information from Benzinga Professional.
The corporate reported income of $661.0 million in final yr’s quarter. Rivian has overwhelmed estimates from analysts for income in seven of the final 10 quarters. A miss within the fourth quarter was the primary miss on the analysts’ estimate for income by Rivian in eight quarters.
Analysts anticipate Rivian to report a lack of $1.17 per share within the first quarter, in comparison with a lack of $1.25 in final yr’s first quarter.
What Analysts Are Saying: A query on demand for electrical automobiles noticed Needham analyst Chris Pierce decrease the worth goal from $18 to $13 on Rivian in April.
The analyst, who has a Purchase ranking on Rivian, mentioned demand for the R1S is healthier than feared, however long-term demand stays a key query.
“R1S used car pricing got here in higher than feared in our used EV OEM value tracker, and though value decreases are anticipated as used provide grows, we’ve not seen any information that factors to a steep drop-off in demand,” Pierce mentioned.
The analyst updates supply estimates after the revealing of the R2 car with estimates for 2026 (154,378) and 2027 (237,037) forward of consensus estimates.
Pierce additionally notes that the TAM (whole addressable market) for Rivian will increase with the R2 and R3. The R2, nevertheless, is “not a near-term catalyst.”
“We see RIVN as one of the best positioned EV OEM in our protection, with the bridge to the TAM increasing R2 car sturdier as the corporate reduces its deliberate capex by pushing out the timing of the build-out of its Georgia plant.”
The analyst additionally mentioned Rivian beginning with a clear slate within the electrical car market, versus legacy automakers transitioning, may benefit the corporate in relation to provide chain and manufacturing.
Listed here are different latest analyst scores on Rivian and their value targets.
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Truist: Maintain ranking, lowered value goal from $11 to $10
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Barclays: Equal-Weight ranking, lowered value goal from $12 to $10
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UBS: Upgrades from Promote to Impartial, $9 value goal
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Morgan Stanley: Chubby ranking, lowered value goal from $14 to $13
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Cantor Fitzgerald: Chubby ranking, $23 value goal
Key Gadgets to Watch: One of many key objects to observe shall be manufacturing and supply updates. The corporate beforehand introduced that first-quarter manufacturing was 13,980 automobiles and deliveries had been 13,588 automobiles.
Steerage from the corporate for the complete yr requires manufacturing of 57,000 automobiles. An replace on that determine could possibly be anticipated from buyers and analysts.
Rivian unveiled the R2 and R3 automobiles in an organization occasion in March. The occasion was effectively acquired and buyers and analysts could possibly be in search of an replace on how reservations for the R2 are monitoring.
The corporate mentioned within the final reported quarter that it was centered on value effectivity and gross revenue per delivered car. These metrics could possibly be intently monitored within the first quarter outcomes.
RIVN Value Motion: Rivian shares commerce at $10.33 versus a 52-week buying and selling vary of $8.26 to 82.06. Rivian shares are down 56% year-to-date in 2024.
Now Learn: Palantir Q1 Earnings: Income Beat And Increase, US Industrial Progress, Continued GAAP Profitability And Extra
Photograph courtesy of Rivian.
Newest Rankings for RIVN
|
Date |
Agency |
Motion |
From |
To |
|---|---|---|---|---|
|
Mar 2022 |
Wedbush |
Maintains |
Outperform |
|
|
Mar 2022 |
Wells Fargo |
Maintains |
Equal-Weight |
|
|
Mar 2022 |
RBC Capital |
Maintains |
Outperform |
View Extra Analyst Rankings for RIVN
View the Newest Analyst Rankings
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This text Rivian Q1 Earnings Preview: Analyst Estimates, R2 Replace, Key Manufacturing Focus Areas initially appeared on Benzinga.com
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