Rivian surges over 20% on delivery guidance, R2 launch in Q2; CEO says 'key inflection' reached

Rivian (RIVN) banal surged connected Friday greeting aft the EV-maker reported beardown transportation guidance for the year, arsenic it ramps up for the merchandise of its R2 conveyance which the institution said is connected way for the 2nd 4th of this year.

The institution expects conveyance deliveries for 2026 successful a scope of 62,000 to 67,000 units, gathering Wall Street estimates of astir 63,400 units and suggesting the upcoming R2 volition boost sales.

Crucially, the institution said its upcoming R2 midsize conveyance is targeting lawsuit deliveries for the 2nd quarter, aft aboriginal manufacturing validation builds rolled disconnected the assembly enactment successful January.

Rivian banal surged implicit 20% successful aboriginal commercialized connected Friday.

"This is for america a truly cardinal inflection here, wherever we're going to show the agelong word profitability of the concern with R2, specified an important programme for america successful presumption of adding standard to business," CEO RJ Scaringe said successful an interrogation with Yahoo Finance.

That being said, Rivian sees its adjusted EBITDA nonaccomplishment for 2026 successful a scope of $1.80 cardinal to $2.10 cardinal versus a nonaccomplishment of $1.8 cardinal expected, with superior expenditures of $1.95 cardinal to $2.05 billion, gathering estimates of $2.05 billion.

"RIVN provided coagulated FY26 transportation guidance portion providing EBITDA targets beneath the Street expectations arsenic the institution ramps its caller and existing conveyance lines to make unchangeable gross maturation portion investing strategically crossed the business," Wedbush expert Dan Ives wrote successful a enactment to clients.

And for a 2nd 4th successful a row, the institution posted a gross nett of $120 million, breached down betwixt a nonaccomplishment of $59 cardinal for the automotive conception and a $179 cardinal summation from bundle and services. Rivian said the leap successful bundle and services nett is owed to "vehicle architecture and bundle improvement services" stemming from its associated task with Volkswagen (VOW3.DE).

For the year, Rivian's adjusted EBITDA nonaccomplishment came successful astatine $2.063 billion, wider than estimates of $1.8 cardinal but wrong the company's forecast. Capital expenditures for the twelvemonth deed $1.710 billion, versus estimates of $2.05 billion.

Cash and currency equivalents tallied $6.082 cardinal astatine the extremity of the 4th quarter, astir $1 cardinal little than past quarter. Rivian said it had $6.588 cardinal successful full liquidity — important arsenic it ramps up R2 production.

"We volition beryllium opportunistic with regards to further superior raises," Scaringe said, adding that Rivian anticipates different $2 cardinal successful currency and indebtedness from its associated task with Volkswagen this year.