Rivian (RIVN) reported solid results from the fourth quarter after the bell on Thursday and achieved its objective of publishing a “gross profit” for the quarter, with an ebitda of the year smaller than expected of the year at the Year 2024 (profit before interest, taxes, depreciation and depreciation) loss to start. The company also sees a lower loss in 2025 compared to a year ago.
Rivian declared a gross profit of $ 170 million in the fourth quarter, mainly pulled by “improvements in variable costs, income per unit delivered and fixed costs,” the company said in a statement.
“This quarter, we have made a positive gross profit and removed $ 31,000 in automotive cost of goods sold by vehicle delivered in the fourth quarter of 2024 compared to the fourth quarter 2023,” said Rivian CEO, RJ Scarge. The launch of our mass market product, R2. The R2 material bill is 95% original and should be about half that of the improved R1 material bill. “”
In terms of guidance, Rivian sees his loss of ebitda adjusted in full year 2025 in the range of $ 1.7 billion to $ 1.9 billion, with vehicle deliveries between 46,000 and 51,000.
During the conference call, the director Claire McDonough said that the company expects less deliveries in the first quarter due to the seasonality and the effects of forest fires on the State of California, where many Rivian purchases are carried out. McDonough said that the company is waiting for only 8,000 deliveries in the first quarter and 14,000 units produced.
Rivian action increased by more than 3% in exchanges after opening hours, but has produced some of these gains.
At the end: February 20 at 4:00 p.m.
For the quarter, Rivian declared a turnover of $ 1.73 billion against $ 1.38 billion expected according to Bloomberg consensus estimates, 32% higher than the $ 1.31 billion reported there A year. The company declared a loss adjusted by share of $ 0.46, beating estimates for a loss of $ 0.65, with an adjusted loss of Ebitda of $ 277 million, better than the $ 399.8 million expected .
For the year 2024, Rivian posted an adjusted loss of ebitda of $ 2.68 billion, less than the loss of $ 2.87 billion scheduled for the last quarter and an improvement in relation to the loss of 3.78 billions of dollars a year ago.
In early January, the company said it had produced 49,476 vehicles and delivered 51,579 in 2024. In the fourth quarter, Rivian produced 12,727 vehicles and delivered 14,183 vehicles.
Rivian said he had $ 5.29 billion in cash and cash, compared to $ 7.85 billion he was a year ago.
The fourth quarter was interesting for Rivian. Business announced an expansion of its partnership with Volkswagen (VWAGY) In November, the German car manufacturer paying more money in a joint venture.
