Rivian Surpasses Third-Quarter Forecasts and Raises Full-Year Delivery Outlook

Original summary · What happened

Rivian Automotive delivered third-quarter financial results that exceeded Wall Street estimates, driven by increased software revenue and a faster production ramp of its newly launched R2 entry-level sport utility vehicle. Shares rose approximately 7% in extended trading following the report, rebounding after plumbing a 52-week low of $11.38 earlier in Thursday's regular trading session.

The electric vehicle manufacturer improved its full-year 2026 operational outlook across several core operational metrics. Management revised its pre-tax adjusted loss forecast to between $1.75 billion and $1.85 billion, reflecting a $100 million midpoint improvement attributed to regulatory credit sales, an IEEPA tariff refund receivable, and larger delivery volumes. Rivian raised its annual vehicle delivery forecast to between 67,000 and 70,000 units while reducing projected capital expenditures by $300 million to a range of $1.4 billion to $1.5 billion.