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Investing.com -- Electric vehicle maker Rivian Automotive Inc (NASDAQ:RIVN) reported better-than-expected first quarter results on Tuesday, beating analyst estimates for both revenue and earnings per share. The company also maintained its full-year 2025 adjusted EBITDA guidance despite lowering its vehicle delivery forecast.
Rivian posted Q1 revenue of $1.24 billion, surpassing the consensus estimate of $983.65 million and up 3% YoY. Adjusted earnings per share came in at -$0.41, beating expectations of -$0.76 per share.
The company achieved a gross profit of $206 million in Q1, marking its second consecutive quarter of positive gross profit. This milestone has unlocked an expected $1 billion investment from Volkswagen (ETR:VOWG_p) Group as part of their recently formed joint venture.
"This quarter we hit our second consecutive gross profit and our highest gross profit to date at $206 million," said RJ Scaringe, Rivian Founder and CEO. "We have continued to make significant progress on R2, including vehicle validation builds underway and our Normal, Illinois manufacturing facility expansion on track."
For the full year 2025, Rivian maintained its adjusted EBITDA outlook of a loss between $1.7 billion and $1.9 billion. However, the company lowered its vehicle delivery forecast to 40,000-46,000 units, citing impacts from evolving trade regulations and tariffs.
Rivian produced 14,611 vehicles in Q1 and delivered 8,640 units. The company completed over 36,000 demo drives during the quarter, its highest number to date.
Rivian’s stock was down a marginal 0.4% in after-hours trading following the release.