Rivian Automotive beat Wall Street's third-quarter earnings expectations as it ramped up production of its new R2 entry-level SUV that the company has promised investors will lead the company to profitability.
Here's how Rivian performed in the period ended Sept. 30, compared with average estimates compiled by LSEG:
The electric vehicle maker also revised its 2026 guidance to mark expected improvements in its vehicle deliveries, pre-tax adjusted earnings and capital expenditures.
The new guidance calls for a pre-tax adjusted loss of between $1.75 billion and $1.85 billion — a $100 million improvement at the midpoint from its prior guidance — vehicle deliveries of between 67,000 and 70,000 units, up from at least 65,000; and capital expenditures of between $1.4 billion and $1.5 billion, $300 million less at the midpoint.
Rivian attributed the improvement in its pre-tax adjusted earnings guidance to better-than-expected revenue related to its sales of regulatory credits, an IEEPA tariff refund receivable in the third quarter and its expected increase in vehicle deliveries.