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Electric vehicle company Rivian Automotive (NASDAQ:RIVN) could highlight the upcoming R2 vehicle when the company reports third-quarter financial results Tuesday after market close.
• RIVN is facing resistance from sellers. See the market dynamics here.
Here are the earnings estimates, what analysts are saying and key items to watch ahead of the report.
Earnings Estimates: Analysts expect Rivian to report third-quarter revenue of $1.50 billion, up from $874 million in last year's third quarter, according to data from Benzinga Pro.
The company has beaten analyst estimates for revenue in three straight quarters and in nine of the past 10 quarters overall.
Analysts expect the company to report a loss of 72 cents per share, compared to a loss of 99 cents per share in last year's third quarter.
The company has beaten analyst estimates for earnings per share in six of the past 10 quarters.
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What Analysts Are Saying: Rivian's third-quarter delivery growth was helped by strong demand from the expiration of the federal EV tax credit, Goldman Sachs analyst Mark Delaney said in a recent note.
“We note that U.S. EV industry sales likely benefitted from pull-in demand related to the end of the up to $7,500 EV federal tax credit under the IRA,” Delaney said.
The comment came after Rivian reported third-quarter deliveries of 13,200, up 32% year-over-year. The total beat a consensus estimate of 12,700 units, while missing the Goldman Sachs estimate of 13,950.
"We expect the loss of the credit to be a headwind for the market in the coming quarters.”
Delaney estimates the loss of the credits could lead to a “double-digit percent headwind” for the sector.
The analyst said with the ending of the federal tax credits, new vehicle launches could become even more important and be the major tailwind for investors, citing the Tesla Model YL, lower-cost models from Tesla and Rivian’s upcoming R2 launch.
Delaney maintained a Neutral rating on Rivian with a $15 price target following the release of third-quarter deliveries.
“Rivian slightly lowered its full-year delivery guidance by 500 vehicles at the midpoint."
The analyst said the new guidance implies 42,500 vehicle deliveries at the midpoint, which is in line with Goldman Sachs’ estimate of 42,500 and slightly above consensus estimates of 42,400.
Delaney said the key items to watch for Rivian are increased volumes, margins, vertical integration, cash burn and the supply chain.
Here are other recent analyst ratings on Rivian Automotive and their price targets:
Key Items to Watch: Recent quarters from Rivian have centered on the future more so than past results, with the company highlighting its joint venture with Volkswagen Group and the upcoming R2 vehicle.
The company said after second-quarter results that the R2 timeline was on track with plans to commission the R2 line in the third quarter and consumer deliveries to begin in the first half of 2026.
Investors and analysts will be watching to see if this remains on track and if Rivian has any new data on reservations or initial demand of the R2, a mid-size SUV that could help the company hit a larger section of consumers in the electric vehicle market.
Rivian narrowed its full-year delivery forecast to a range of 41,500 to 43,500 after third-quarter delivery figures were shared. Investors will also be watching to see if this range stays in place or changes again.
With the expiration of the federal tax credit for EVs and Rivian CEO RJ Scaringe commenting in interviews that Chinese EVs are cheaper and have more attractive price points, investors and analysts may want to hear more about what the company's growth plans are for the future.
Rivian stock will likely be less reactive to results in the upcoming quarters until the R2 is produced, and will see big swings if guidance or the timeline is changed.
RIVN Price Action: Rivian stock is down 2.43% to $13.24 at publication on Monday versus a 52-week trading range of $9.50 to $17.14. Rivian shares are down 0.45% year-to-date in 2025.
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Photo: Courtesy Rivian
Posted In: RIVN
