"Shares of Rivian Automotive Inc. ( NASDAQ: RIVN) are changing hands for 16.7% more than a week ago, after it posted strong third-quarter results. The company also announced a new pay package for its CEO potentially worth up to $4.6 billion. And it reaffirmed its 2025 production and delivery guidance and provided optimistic updates on the development of its more affordable R2 SUV. The share price is 63.2% higher than a year ago, outperforming the S&P 500 in that time."
"Shares of electric vehicle (EV) manufacturer Rivian have been on a rollercoaster this year, surging and then falling after its first-quarter report. They have recovered somewhat since the second-quarter report. In the latest results, revenue was up slightly year over year to $1.6 billion. The company posted a narrower-than-expected loss. The company noted this quarter was likely its strongest delivery quarter of the year due to the expiration of federal EV tax credits. Wall Street sentiment on the stock was mixed after the report."
Shares rose 16.7% week-over-week and stand 63.2% higher year-over-year, with a 73.9% gain from the year-to-date low in April. Revenue reached $1.6 billion, up slightly year-over-year, and the company posted a narrower-than-expected loss. Third-quarter deliveries totaled 13,201 vehicles, a 32.2% increase year-over-year, and the quarter was noted as likely the strongest of the year due to expiring federal EV tax credits. The company reaffirmed 2025 delivery guidance of 41,500 to 43,500 vehicles, announced a potentially large CEO pay package, and cited tariffs, softening demand, cost efficiencies, partnerships, and the upcoming R2 SUV as key factors.
Read at 24/7 Wall St.
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