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Home»Finance»Rivian posts $170 million ‘gross profit’ in Q4, sees losses decreasing as variable costs improve
Finance

Rivian posts $170 million ‘gross profit’ in Q4, sees losses decreasing as variable costs improve

February 21, 2025No Comments5 Mins Read
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Rivian posts $170 million 'gross profit' in Q4, sees losses decreasing as variable costs improve
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Rivian (RIVN) reported sturdy fourth quarter outcomes after the bell on Thursday and got here by on its purpose of posting a “gross revenue” for the quarter, with a smaller-than-expected full-year 2024 EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) loss in addition. The corporate additionally sees a smaller loss in 2025 in comparison with a yr in the past.

Rivian reported a gross revenue of $170 million within the fourth quarter, primarily pushed by “enhancements in variable prices, income per delivered unit, and stuck prices,” the corporate stated in an announcement.

“This quarter we achieved constructive gross revenue and eliminated $31,000 in automotive value of products bought per car delivered in This autumn 2024 relative to This autumn 2023,” Rivian CEO RJ Scaringe stated in an announcement. “Our give attention to value effectivity throughout the enterprise is vital for the launch of our mass market product, R2. The R2 invoice of supplies is roughly 95% sourced and is anticipated to be roughly half that of the improved R1 invoice of supplies.”

By way of steerage, Rivian sees its 2025 full-year adjusted EBITDA loss within the vary of $1.7 billion to $1.9 billion, with car deliveries between 46,000 and 51,000.

On the convention name, CFO Claire McDonough stated the corporate expects fewer deliveries in Q1 as a result of seasonality and the consequences of the wildfires on the state of California, the place many Rivian purchases are made. McDonough stated the corporate expects solely 8,000 deliveries in Q1, and 14,000 items produced.

Rivian inventory was up over 3% in after-hours buying and selling, however pared a few of these positive factors.

NasdaqGS – Delayed Quote • USD

At shut: February 20 at 4:00:01 PM EST

For the quarter, Rivian reported income of $1.73 billion versus $1.38 billion anticipated per Bloomberg consensus estimates, 32% larger than the $1.31 billion reported a yr in the past. The corporate reported an adjusted loss per share of $0.46, beating estimates for a $0.65 loss, with an adjusted EBITDA lack of $277 million, higher than the $399.8 million anticipated.

For the yr 2024, Rivian posted an adjusted EBITDA lack of $2.68 billion, decrease than the $2.87 billion loss projected final quarter and an enchancment in comparison with the $3.78 billion loss from a yr in the past.

In early January, the corporate stated it produced 49,476 automobiles and delivered 51,579 in 2024. In This autumn, Rivian produced 12,727 automobiles and delivered 14,183 automobiles.

Rivian stated it had $5.29 billion in money and money equivalents, down from the $7.85 billion it had a yr in the past.

The fourth quarter was an attention-grabbing one for Rivian. The corporate introduced an enlargement of its partnership with Volkswagen (VWAGY) in November, with the German automaker pouring more cash right into a three way partnership.

The three way partnership, introduced final June, will use Rivian’s electrical structure — often called “zonal structure” — and accompanying software program stack to allow the launch of Rivian’s upcoming midsize R2 SUV within the first half of 2026.

Learn extra: Are electrical automobiles dearer to insure?

In November, Rivian additionally revealed that it received a “conditional dedication” from the Division of Power (DOE) for a $6.6 billion mortgage, highlighting Rivian’s bettering capital situation. The mortgage, a part of the DOE’s Superior Know-how Automobiles Manufacturing (ATVM) program, would help the development of Rivian’s upcoming meeting plant positioned exterior of Atlanta.

The brand new Trump White Home, nevertheless, and the Division of Authorities Effectivity (DOGE) say they’ll scrutinize the deal, probably placing the DOE mortgage to Rivian in limbo.

A fleet of Rivian Electric Delivery Vehicles (EDV) are connected to electric chargers during a launch event between Amazon and Rivian at an Amazon facility on July 21, 2022, in Chicago. (Mustafa Hussain/Getty Images)
A fleet of Rivian Electrical Supply Automobiles (EDV) are related to electrical chargers throughout a launch occasion between Amazon and Rivian at an Amazon facility on July 21, 2022, in Chicago. (Mustafa Hussain/Getty Pictures) · Mustafa Hussain by way of Getty Pictures

One other huge wild card on the regulatory entrance is the standing of the federal EV tax credit score, which the Trump White Home and Republican Get together have indicated could also be repealed. Pure-play automakers like Rivian, Lucid (LCID), and Tesla (TSLA) might be most affected by elimination of the tax credit score.

Lastly, earlier this month Rivian stated it could open up orders for its EDV industrial supply van, which may open one other income stream for an organization seeking to scale up, develop income, and reduce prices.

Correction: An earlier model of this story had an adjusted loss per share of $0.70 for This autumn. That has been corrected to $0.46. The EBITDA loss for final yr was additionally corrected to $3.78 billion. We remorse the errors.

Pras Subramanian is a reporter for Yahoo Finance. You possibly can comply with him on X and on Instagram.

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