Rivian Q3 Earnings Beat Estimates, R2 Deliveries Surge
Rivian beat Wall Street’s third‑quarter earnings expectations, delivered a record 19,248 R2 SUVs and raised its 2026 guidance despite a narrower loss.
At a glance
- Rivian beat Wall Street’s Q3 earnings expectations, delivering a record 19,248 vehicles and narrowing its net loss to $913 million from $1.17 billion a year earlier.
- The company raised its 2026 guidance, projecting a smaller pre‑tax loss of $1.75‑$1.85 billion, higher vehicle deliveries of 67,000‑70,000 units and lower capital spending of $1.4‑$1.5 billion.
- Software revenue grew to $605 million with a 42 % margin, while the R2 SUV became Rivian’s best‑selling model and is key to future profitability.
Rivian Automotive beat Wall Street’s third‑quarter earnings expectations as it ramped up production of its new R2 entry‑level SUV, which the company says will drive profitability. The electric‑vehicle maker delivered a record 19,248 units from July through September, a jump that helped narrow its net loss to $913 million from $1.17 billion a year earlier. Gross profit rose to $176 million, up from $24 million in Q3 2025, while adjusted EBITDA improved to a $435 million loss, $167 million better than the prior year.
Financial performance The company posted a net loss attributable to common stockholders of $913 million, compared with $1.17 billion in the same quarter of 2025. Its software and services segment continued to grow, generating $605 million in revenue and a gross profit of $256 million, a 42 % margin. By contrast, the automotive operations recorded nearly $1.55 billion in revenue but a gross loss of $80 million.
Guidance and outlook Rivian revised its 2026 guidance, projecting a pre‑tax adjusted loss of $1.75 billion to $1.85 billion—a $100 million improvement at the midpoint. Vehicle‑delivery forecasts were raised to 67,000–70,000 units from at least 65,000, and capital expenditures were cut to $1.4 billion–$1.5 billion, $300 million less at the midpoint. The company cited better‑than‑expected regulatory‑credit revenue, an IEEPA tariff refund receivable in Q3 and higher delivery volumes as drivers of the improved outlook.
Software segment growth The software and services segment remains a bright spot, delivering $605 million in revenue and a gross profit of $256 million, a 42 % margin that underscores its importance to overall profitability.
Stock reaction Shares rose about 5 % in after‑hours trading after hitting a 52‑week low of $11.38, though the day‑close was down 1.9 % at $11.45.
Source: CNBC
Questions and answers
- What were Rivian’s key financial results for Q3 2026?
- Rivian beat estimates with a net loss of $913 million, gross profit of $176 million, and a record 19,248 vehicle deliveries, driven by strong R2 sales and software revenue.
- How did Rivian adjust its 2026 guidance?
- The company expects a pre‑tax loss of $1.75‑$1.85 billion, vehicle deliveries of 67,000‑70,000 units, and capital expenditures of $1.4‑$1.5 billion, reflecting improvements in deliveries and cost control.
- What happened to Rivian’s stock after the earnings release?
- Shares rose about 5 % in after‑hours trading after hitting a 52‑week low of $11.38, though the day‑close was down 1.9 % at $11.45.
Original reporting: CNBC Top News (cnbc.com)
rivianelectric vehiclesquarterly earningsR2CEO RJ Scaringe
