Schwab Network on $RIVN (Oct 30, 2026)
Rivian beat on revenue ($2.16 billion, +38% year over year) and adjusted EPS loss (48 cents versus 62 cents expected), with 19,248 deliveries, up 46%, on the R2, and raised delivery and adjusted EBITDA guidance. The speaker calls it a really good quarter but says scaling and cost control remain unproven after being its problem for years.
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All right. And then one poor cars, that's Rivian. Those shares moving higher in the pre-market. It's clearly a win that Rivian needed given how shares have performed so far this year. But what's the latest here?
Yeah, we are seeing the shares up about 6%. The company was able to beat both on the top and bottom line. Revenue came in at $2.16 billion. That's a 38% increase on a year-over-year basis.
Street was looking for around 1.99 billion. Uh the adjusted earnings per share still came in at a loss of 48 cents, but Street was looking for a loss of 62 cents. And gross margins actually came in at 8% overall for the quarter.
Now, this is because of the deliveries. They were able to deliver up to 19,248 vehicles, up 46% on a year-over-year basis, and this is really because of the R2 is now driving uh their their sales growth here.
And they are optimistic when it comes to the future as well as you can see that within their guidance. they actually increased their delivery guidance up uh by about 2,000 vehicles and then you are also seeing the adjusted IBITA being improved as well for the quarter for their guidance or their fiscal year guidance.
So overall a really good quarter for them and hopefully they're able to turn it around uh as far as uh being able to scale as well as being able to manage some of the cost that's been the issue with Rivian over the last couple years.