Rivian stock drops as full-year loss projection widens, but 'modest gross profit' still expected in Q4

Published On Nov 8, 2024, 9:56 AM

Rivian's stock fell nearly 2% after it announced a larger than expected loss for the year, attributed to ongoing supply chain issues. In the third quarter, Rivian reported revenues of $874 million, below expectations of $980 million, and a loss per share of $0.99 compared to an expected loss of $0.92. Despite challenges, the company expects to reach a modest gross profit in Q4 and has maintained its delivery forecast for the year.

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Stock Forecasts

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Negative

Rivian faces significant challenges due to supply chain issues and a wider-than-expected loss projection, impacting investor confidence. While there is potential for modest profitability in Q4, the longer-term outlook is overshadowed by demand concerns and production limitations.

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