Business · Companies · 2 hrs ago
Rivian beats earnings estimates as R2 SUV boosts sales
US electric vehicle maker Rivian reported a smaller loss than analysts expected in the third quarter, which ended Sept.
30.
Revenue was $2.16 billion, above estimates, while the company still lost $913 million overall.
The R2 became Rivian's best-selling model in its first full quarter on the market, though the company did not disclose how many R2s it delivered.
Rivian delivered a record 19,248 vehicles across all models during the quarter.
Its software and services business made $605 million in revenue and a gross profit, while its vehicle operations recorded a gross loss.
The company raised its 2026 delivery forecast to 67,000–70,000 vehicles and lowered its expected capital spending.
Rivian says it expects the R2 to reach positive gross profit by year-end, but it remains unprofitable and needs to expand production to reach overall profitability.
Rivian reported a third-quarter adjusted loss of 48 cents per share, smaller than analysts had expected.
Revenue rose 38% to about $2.2 billion, above Wall Street estimates.
The R2 became Rivian’s best-selling model and accounted for much of the quarter-over-quarter increase in deliveries.
Rivian delivered a record 19,248 vehicles from July through September, but did not disclose R2 deliveries separately.
The company raised its 2026 delivery outlook to 67,000 to 70,000 vehicles and lowered its midpoint estimate for capital spending.
- Who
- Rivian Automotive, the US electric-vehicle maker.
- What
- It reported a smaller-than-expected third-quarter loss and higher revenue, with the R2 SUV becoming its best-selling model.
- When
- The results covered the quarter ended September 30, 2026, and were reported on Thursday, October 29.
- Where
- Not stated
- Why
- The sources link the stronger results to rising R2 sales and revenue, including software and services revenue.
This story does not have two clearly opposing sides.
The first R2 deliveries arrived to customers.
Rivian raised its full-year delivery outlook to as many as 70,000 vehicles.
Rivian delivered a record 19,248 vehicles, and the R2 became its best-selling model.
Rivian reported third-quarter results and revised its 2026 guidance.
- Adjusted loss per share
- 48 cents
- Revenue
- $2.16 billion, compared with $1.99 billion expected by LSEG
- Vehicle deliveries
- 19,248 in the third quarter
- 2026 delivery outlook
- 67,000 to 70,000 vehicles
- Cash, cash equivalents and short-term investments
- $5.5 billion at the end of the third quarter
3 sources
What people are saying
That ramp-up is critical for us getting to positive gross margin on R2 and that ultimately will contribute to positive gross margin for the business
We're going to see that through the end of the quarter and the unit economics will continue to grow … into Q1 of next year as well.