Rivian Automotive (RIVN) released its Q4 2024 and full-year 2024 earnings report on February 20, 2025, surpassing Wall Street's expectations. Here are the key highlights:
Q4 2024 Results
Revenue: $1.734 billion, up 32% year-over-year
Gross profit: $170 million, marking Rivian's first quarterly gross profit
Adjusted EPS: -$0.46, better than the expected -$0.65
Adjusted EBITDA loss: $277 million, outperforming the expected $399.8 million loss
Full-Year 2024 Results
Revenue: $4.97 billion, up approximately 12% from 2023
Net loss: $4.75 billion
Vehicle deliveries: 51,579 units
2025 Outlook
Vehicle deliveries forecast: 46,000 to 51,000 units, lower than 2024
Adjusted EBITDA loss projection: $1.7 billion to $1.9 billion, narrower than the $2.69 billion loss in 2024
The company aims to achieve another "modest gross profit" in 2025
Additional Notes
Rivian's Q4 results were boosted by $299 million from regulatory credit sales and $214 million in software and services revenue
The company plans to launch new "R2" midsize vehicles in 2026
CEO RJ Scaringe noted "a lot of uncertainty" in the automotive industry, particularly regarding potential changes to EV incentives and tariff policies
Despite the positive Q4 results, Rivian's stock closed at $13.61 per share on February 20,2025, down 2.3%, but rose approximately 7% in after-hours trading. However, on February 21, Rivian shares experienced a significant decline:
The stock closed at $12.96, down 4.70% from the previous day's close of $13.61.
During the trading day, RIVN shares reached a low of $12.55 and a high of $13.36.
Trading volume was notably high at 70,244,243 shares, compared to the average volume of 37,029,266.
The stock's decline can be attributed to several factors: