Rivian Releases First Quarter 2023 Financial Results

Rivian (RIVN) CEO mentions possibility of future partners and expansion beyond Amazon in CNBC interview

Rivian (NASDAQ: RIVN) CEO RJ Scaringe met with CNBCs Phil LeBeau at the companys plant in Illinois for a Squawk Box interview one day after the electric automaker reported a smaller than expected 1Q earnings loss.

The company reported 1Q EPS of ($1.25), coming in ahead of ($1.59) estimates. The company also reported 1Q revenue of $661 million, ahead of estimates of $652 million ad the automaker continues to work towards... More

CFRA upgrades Rivian (RIVN) on strong 1Q performance and favorable liquidity position

CFRA Research upgraded Rivian Automotive (NASDAQ: RIVN) to a Sell rating (From Strong Sell) and raised their price target on the stock to $10.00 (From $8.00) following the electric automakers 1Q earnings beat on Tuesday.

RIVN posted 1Q adjusted EPS of -$1.25 ahead... More

CFRA Upgrades Rivian Automotive Inc (RIVN) to Sell

CFRA analyst Garrett Nelson upgraded Rivian Automotive Inc (NASDAQ: RIVN) from Strong Sell to Sell with a price target of $10.00 (from $12.00).

The analyst comments "We increase our 12-month price target by $2 to $10, comparable to the EV peer average. We increase our adjusted EPS estimates to -$6.55 from... More

Rivian (RIVN) reports strong 1Q despite concerns of intensifying EV competition

Rivian Automotive (NASDAQ: RIVN) ) reported its 1Q earnings results after the closing bell Tuesday, reporting EPS of ($1.25), $0.36 ahead of the consensus estimate of ($1.61). Revenue for the quarter came in at $661M versus the consensus estimate of $655.51M.

However, the strong 1Q beat wasnt enough to change RBC Capitals Sector Perform rating and $14.00 price target on the stock.

RBC analyst Tom Narayan wrote in a note, Rivian posted a strong Q1/23 EBITDA beat but maintained its 2023 guide, which we think implies a downshift coming from higher volumes at negative margins. Management presented a... More