Rivian to report Q4 2021 Earnings today: Here’s what to look for

(Photo: Rivian)

Rivian (NASDAQ: RIVN) will report its earnings results for the fourth quarter and full year 2021 today after the market closes. Here’s what to look for.

According to Bloomberg data, Wall Street consensus estimations expect an adjusted loss per share of -$2.05, along with a revenue of $63.99 million. After producing 1,015 vehicles and delivering 920 in 2021, Rivian will look forward to 2022 as a year to ramp production of the R1T, R1S, and EDV700 van, which Amazon purchased 100,000 units of in 2019.

This year, Rivian should look to get 40,000 vehicles delivered, Wall Street says. However, Rivian could outline a stronger delivery guidance figure, which analysts say could send the stock higher. Since its IPO late last year, Rivian stock soared up to nearly $180 per share before settling to its current levels of $40.75, at the time of writing. Shares on Thursday were down over 7 percent at 11:15 AM EST.

The stock continued to slide after Stellantis and Amazon announced a partnership for electric delivery vans. Rivian said to Teslarati in a statement:

“This is good news for the industry, for Rivian and for Amazon. Large fleets focused on electrification and carbon neutrality represent a win for the mission of both companies. Amazon’s scale is globally unprecedented, and we expect them to purchase vehicles from many providers- our own partnership with them is intact, thriving, and growing.”

Rivian has plenty of cash as investors like Amazon and Ford have backed the company for several years. Last week, the company faced its first bit of controversy related to its vehicles after announcing price hikes of at least 17 percent on both the R1T and R1S. Following significant pushback from pre-order holders who saw their vehicle price skyrocket by $20,000 in some cases, Rivian backtracked from the move and announced that any pre-order placed before March 1 would receive original pricing. CEO RJ Scaringe said Rivian “didn’t manage communications well. We didn’t give you enough insight into what was driving these decisions.”

Scaringe added in the letter, “Everything from semiconductors to sheet metal to seats has become more expensive and with this, we have seen average new vehicle pricing across the U.S. rise more than 30% since 2018,” which drove Rivian to consider increasing prices.

Rivian’s Earnings Call will begin at 5 PM EST tonight. It will available via webcast at this link.

Disclosure: Joey Klender is not a RIVN Shareholder.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Joey Klender: Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his time at TESLARATI, Joey has broken several big stories, including the first images of the Tesla Model S Plaid, the imminent release of the 4680 Model Y through EPA certification, and several expansions to the Lucid AMP-1 factory in Arizona, to name a few. His stories have been featured in several publications, including Yahoo! Finance, Fox News, CNET, and Seeking Alpha. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on Twitter @KlenderJoey.
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