IRVINE, Calif. - Rivian Automotive , Inc. (NASDAQ: NASDAQ:RIVN) reported today that its production and delivery figures for the fourth quarter and full-year ending December 31, 2024, were consistent with the company’s forecasts. The electric vehicle manufacturer produced 12,727 vehicles and delivered 14,183 vehicles in the final quarter of the year at its Normal, Illinois facility. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 5.09, though it faces challenges with a negative gross profit margin of -43.42%.
Over the course of 2024, Rivian produced a total of 49,476 vehicles and delivered 51,579, aligning with its projected target range of 47,000 to 49,000 vehicles produced and 50,500 to 52,000 vehicles delivered. The company also noted the resolution of a prior component shortage issue that had impacted production of its R1 and RCV platforms. InvestingPro analysis shows 10 analysts have revised their earnings upwards for the upcoming period, suggesting growing confidence in the company’s execution despite its rapid cash burn rate.
Rivian has scheduled the release of its fourth-quarter financial results for February 20th, after the market closes. Following the release, an audio webcast is set to discuss the company’s performance and outlook at 5:00 p.m. ET on the same day. This webcast will be accessible to the public and can be found at the company’s dedicated webcast page, with a replay available on the Rivian investor relations website for four weeks. For comprehensive analysis of Rivian’s financial health and market position, investors can access detailed Pro Research Reports available exclusively on InvestingPro.
The press release contained forward-looking statements, which are based on current expectations and projections about future events. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.
Rivian, known for its innovative electric vehicles, aims to accelerate the transition to zero-emission transportation. The company’s vehicles are produced in the United States and are sold directly to both consumer and commercial markets. Rivian’s services encompass the entire vehicle lifecycle and are part of its mission to preserve the natural environment.
This news summary is based on a press release statement from Rivian Automotive, Inc.
In other recent news, Rivian Automotive has been making significant strides in its labor relations and financial development. The company has entered into a confidential agreement with the United Auto Workers (UAW) that could pave the way for unionization at its Illinois factory, contingent on the electric-vehicle maker achieving profitability. This development has been welcomed by investors, given the company’s ongoing pursuit of a $6.6 billion conditional loan from the US Energy Department for the construction of a new EV plant in Georgia. Rivian’s Chief Financial Officer, Claire McDonough, has indicated that the company is on track to reach a positive gross profit this quarter, primarily driven by the sale of regulatory credits.
In other developments, Rivian has been the focus of analysis from various firms. Goldman Sachs has maintained a Neutral rating on Rivian’s stock, emphasizing the company’s emphasis on digital flexibility and innovation. Meanwhile, Benchmark has initiated coverage on Rivian with a Buy rating and set a stock target of $18.00 based on a promising outlook.
In contrast, the transition team of the incoming U.S. President Donald Trump is proposing policy changes that could end support for electric vehicles (EVs) and charging infrastructure. Major automakers like General Motors (NYSE:GM) and Hyundai (OTC:HYMTF), who have recently expanded their electric vehicle offerings in the American market, could see their business strategies significantly affected by these proposed policies.
In the meantime, Ford (NYSE:F) and General Motors have been experiencing strong tailwinds and stable inventories despite aggressive discounting by competitor Stellantis (NYSE:STLA), according to Bernstein. However, Stellantis has been facing challenges, with November sales down 9% and a potential downside of 9% reflected in its price target. Despite these challenges, Stellantis maintains strong fundamentals with a P/E ratio of 2.82 and offers an attractive 9.01% dividend yield.
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