Rivian electrical pickup vans sit down in a carpark at a Rivian carrier middle on Might 09, 2022 in South San Francisco, California.
Justin Sullivan | Getty Photographs
Electrical car maker Rivian Automobile on Wednesday reaffirmed its 25,000-vehicle manufacturing goal for 2022, however mentioned it plans to spend much less to do it as the corporate reported third-quarter income that fell wanting Wall Boulevard’s estimate.
Listed here are the important thing numbers from Rivian’s third-quarter profits document, when compared with reasonable Wall Boulevard analyst expectancies as complied via Refinitiv.
Earnings: $536 million, as opposed to $551.6 million anticipated.Adjusted loss consistent with percentage: $1.57, as opposed to an anticipated lack of $1.82 consistent with percentage.
Rivian’s internet loss for the quarter used to be about $1.72 billion. As of September 30, the corporate had about $13.8 billion in money last, down from $15.5 billion as of June 30.
Rivian mentioned on Oct. 3 that it produced 7,363 automobiles within the 1/3 quarter and delivered 6,584 automobiles to shoppers right through the duration. 12 months thus far, in the course of the 1/3 quarter, Rivian produced 14,317 automobiles.
Rivian mentioned it now has “over 114,000” preorders for its R1-series vans and SUVs, up from about 98,000 preorders as of Aug. 11.
Rivian mentioned that it now expects its full-year capital expenditures to overall about $1.75 billion, down from the $2 billion it guided to after the second one quarter.
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