Rivian beats Q2 estimates with $0.47 loss, revenue tops $1.66B

Rivian Automotive reported a Q2 loss of $0.47 a share, beating the $0.65 consensus estimate, as revenue climbed to $1.66 billion.

Piper Sandler upgraded Rivian to Overweight from Neutral on July 27, citing improving EV demand and confidence in the R2 launch, analyst Alexander Potter said. The firm raised its price target to $20 from $18.

Revenue of $1.66 billion compared with $1.3 billion a year earlier, a 27.7 percent increase, and surpassed the consensus estimate by 4.25 percent. The company delivered 12,194 vehicles in the quarter, up from 10,661 in the same period last year and above its guidance range of 9,000 to 11,000. Production reached 12,613 vehicles, more than double the 5,979 units produced a year ago.

Metric	Actual	Consensus	Beat/Miss
Revenue	$1.66B	$1.58B	+4.25%
EPS	-$0.47	-$0.65	+$0.18
Deliveries	12,194	9,000-11,000 guidance	Above range

The narrower loss marks an improvement from the $0.80 per share loss in the year-ago quarter. Rivian has now beaten consensus EPS estimates in each of the last four quarters, delivering an average surprise of 2.44 percent.

Rivian raised its full-year 2026 delivery outlook to 65,000 to 70,000 vehicles from 62,000 to 67,000, signaling confidence in demand for its R1 lineup and the newly launched R2 SUV. The company expects R2 material costs to be nearly 50 percent lower than the R1, supporting its path to gross profit improvement. Rivian shares have lost about 17.2 percent year to date, underperforming the S&P 500's 6.9 percent gain.

The earnings beat and raised guidance suggest Rivian's cost-cutting efforts and R2 ramp are gaining traction. Investors will watch the company's Q3 delivery trajectory and gross margin progression for signs of sustained improvement toward profitability.

This article is for informational purposes only and does not constitute investment advice.