Rivian Q1 2024 earning call predictions
Rivian (NASDAQ: RIVN) Automotive will discuss its Q1 2024 financial results after market close on Tuesday, May 7, 2024. During the discussion, Rivian will host a live audio webcast, starting at 5:00 p.m. ET.
Rivian beat Q1 2024 estimates by delivering 13,588 electric vehicles and producing 13,980 units at its factory in Normal, Illinois. The company’s relatively strong Q1 2024 results came after Rivian warned that its first-quarter deliveries would be down 10-15% quarter over quarter. However, analysts were somewhat surprised by Rivian’s delivery results. Its financial results might be a whole different matter.
Analysts expect Rivian to announce an earnings of ($1.13) per share for the first quarter. During its Full Year and Q4 2023 earning call, Rivian reported ($1.58) earnings per share for the fourth quarter. It also reported a negative return on equity of 45.97% and a negative net margin of 122.51%. In Q4 2023, Rivian had a revenue of $1.32 billion, beating analyst expectations of $1.28 billion.
Since its last earnings call in February, Rivian paused production on its Georgia EV factory and unveiled the R2 and R3 vehicles. It has already started accepting Rivian R2 vehicle reservations for $100. A few Wall Street analysts and RIVN investors were puzzled by the company’s decision to unveil the R2 and R3, fearing that the new models might cut demand for the R1T and R1S.
Rivian seems to have a clear path to follow and appears confident about the future. Recently, a Rivian executive shared that the company will continue to build its Georgia factory for R2 and R3 production.
Check out some of our cool Rivian accessories for your R1T and R1S!
Hit the road with a rooftop tent! The Rivian R1T & R1S Crossbar Tent Mount is built super tough, so you can camp confidently anywhere. It attaches easily to your truck's bed crossbars and gives you a solid base to mount your favorite rooftop tent. No need to be a mechanic, installation is a breeze!
Need a license plate holder that goes on in a flash? We hear you! The Rivian R1T / R1S Front License Plate Holder "Quick Bandit" is the answer. This bad boy uses a special latching system so you can take it on and off in seconds – seriously, it's that fast! Perfect if you want to keep your Rivian looking sleek when you're out cruising.
Keeping your Rivian R1S sparkling clean just got easier! These All-Weather Floor Mats by 3D MAXPider are the real deal. They're made with a super durable material that looks great and protects your floors from all kinds of messes, rain or shine. The special grippy bottoms mean no slipping or sliding either.
Same goes for the Rivian R1T All-Weather Floor Mats by 3D MAXPider! They'll keep your truck looking sharp and protected no matter what you throw at it.
Want to keep your Rivian's touchscreens looking brand new? This Rivian R1T / R1S Tempered Glass Screen Protector is what you need. It's super strong and scratch-resistant, so you can say goodbye to fingerprints and keep your screens crystal clear.
Got a furry copilot? This Premium Rear Seat Pet Cover from 4knines is a must-have! It's made from super tough material that's easy to clean and protects your seats from spills, muddy paws, and whatever else your furry friend tracks in. Plus, it comes in hammock or non-hammock styles, so you can pick what works best for you.
