Rivot's Shares are Skyrocketing following the Company's Announcement of More Deliveries than Anticipated
Rivian Automotive's shares climbed 23% on Friday, surpassing Thursday's closing price, following the company's announcement of Q4 production and delivery figures that surpassed expectations. The EV manufacturer produced 12,727 vehicles and delivered 14,183 to customers, exceeding Wall Street's estimates.
For the year, Rivian had a robust production of 49,476 vehicles and delivered 51,579, falling within its previous guidance ranges. Furthermore, the company announced that it had resolved a component shortage, which formerly constrained its production of delivery vans and R1 models.
This positive news, in the face of growing concerns about broader EV demand and some softening in Tesla's sales, assures investors that Rivian's demand remains steady. On February 20, 2025, Rivian will report its Q4 and full-year 2024 financial results, which investors eagerly anticipate. Rivian is expected to announce if it met its long-standing goal of achieving positive gross profits by the end of 2024, as well as provide expectations for 2025, when the higher-volume R2 models are slated to launch in mid-2026.
Rivian's impressive Q4 production and delivery figures have fueled hope among investors that the company's earnings will continue to perform well. The robust finance performance in 2023, with 49,476 produced and 51,579 delivered vehicles, falls within the company's previously stated guidance ranges. With Tesla facing some softening in sales, Rivian's strong showing in the market is considered a significant competition in the investing world, notably in the area of finance for electric vehicles. Eagerly awaiting Rivian's Q4 and full-year 2024 financial results on February 20, 2025, investors are hoping for news of Rivian meeting its target of achieving positive gross profits by the end of 2024 and providing expectations for 2025, when the higher-volume R2 models are set to launch in mid-2026.
