Rivian Automotive Second Quarter 2024 Earnings: EPS Misses Expectations

Simply Wall St

August 08, 2024

Rivian Automotive (NASDAQ:RIVN) Second Quarter 2024 Results

Key Financial Results

Revenue: US$1.16b (up 3.3% from 2Q 2023).
Net loss: US$1.46b (loss widened by 22% from 2Q 2023).
US$1.46 loss per share (further deteriorated from US$1.27 loss in 2Q 2023).

earnings-and-revenue-growth — NasdaqGS:RIVN Earnings and Revenue Growth August 8th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Rivian Automotive EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.8%.

Looking ahead, revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto industry in the US.

Performance of the American Auto industry.

The company's shares are down 16% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Rivian Automotive has 3 warning signs we think you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.