Rivian (RIVN) reported a strong results of the fourth quarter after the bell on Thursday and came through the aim of placing a “gross profit” for the quarter, with a smaller than expected EBITDA (profit for interest, taxes, taxes, taxes Taxes, depreciation and amortization) loss to start up. The company also sees a smaller loss in 2025 compared to a year ago.
Rivian reported a gross profit of $ 170 million in the fourth quarter, mainly driven by “improvements in variable costs, turnover per unit and fixed costs supplied,” the company said in a statement.
“This quarter we achieved a positive gross profit and removed $ 31,000 in automotive costs of goods sold per vehicle delivered in Q4 2024 compared to Q4 2023,” said Rivian CEO RJ Scaringe in a statement. “Our focus on cost efficiency throughout the company is crucial. The launch of our mass market product, R2. The R2 account of materials is about 95% produced and is expected to be around half of the improved R1 materials.”
In terms of guidelines, Rivian sees its 2025 adapted EBITDA loss of the entire year in the reach of $ 1.7 billion to $ 1.9 billion, with vehicle deliveries between 46,000 and 51,000.
During the Call conference, CFO Claire McDonough said that the company expects fewer deliveries in Q1 because of seasonal influences and the effects of forest fires in the state of California, where many Rivian purchases are made. McDonough said that the company expects only 8,000 deliveries in Q1 and 14,000 units produced.
Rivian shares had risen more than 3% on the trade after the hours, but brought a part of those benefits into account.
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For the quarter, Rivian reported sales of $ 1.73 billion versus $ 1.38 billion expected per Bloomberg Consensus estimates, 32% higher than the $ 1.31 billion reported a year ago. The company reported an adjusted loss per share of $ 0.46, where estimates were made for a loss of $ 0.65, with an adapted EBITDA loss of $ 277 million, better than the expected $ 399.8 million.
For the year 2024, Rivian placed an adapted EBITDA loss of $ 2.68 billion, lower than the loss of $ 2.87 billion that was projected last quarter and an improvement compared to the loss of $ 3.78 billion of a year ago .
At the beginning of January the company said it produced 49,476 vehicles and delivered 51,579 in 2024. In Q4, Rivian produced 12,727 vehicles and supplied 14,183 vehicles.
Rivian said it had $ 5.29 billion in cash and kasequivalents, against the $ 7.85 billion it had a year ago.
The fourth quarter was interesting for Rivianus. The company announced an extension of her collaboration with Volkswagen (VWAGY) In November the German automaker collapsed more money in a joint venture.
