- Rivian Automotive (RIVN) anticipates delivering 50,000 cars this year, but recent fourth-quarter statistics reveal $663M in sales, a loss of $1.87 per share. Sales of just under $800 million should have seen a $2 per share loss in order to fulfill Wall Street's expectations. Rivian's shares subsequently decreased 8.7% as a result.
- EBITDA came in at a loss of $1.5B, and an estimated $1.6B EBITDA loss had been predicted by analysts. Sales and earnings aren't too crucial yet, but earnings were a touch better than anticipated. Rivian's first year of sizable sales was 2022, and it is still scaling up production.
Why it matters
Rivian anticipates producing 50,000 automobiles in 2023, while Wall Street anticipates that this year's production will total between 60,000 and 65,000 automobiles.
