Rivian beat Wall Street’s top- and bottom-line expectations for the second quarter as the electric vehicle maker continues to take costs out of its…
beat Wall Street's top- and bottom-line expectations for the second quarter as the electric vehicle maker continues to take costs out of its business.The company's adjusted net losses widened during the second quarter to $1.46 billion, or a loss of $1.46 per share, compared with a year earlier of $1.2 billion, or a loss of $1.27 per share.
Its adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA was about level from the same period as a year ago at a loss of $860 million.Rivian on Tuesday reaffirmed its 2024 guidance of 57,000 total units of production, a loss of $2.7 billion in adjusted EBITDA and $1.2 billion in capital expenditures.
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