Rivian Automotive beat Wall Street’s fourth-quarter earnings expectations and achieved its first gross quarterly profit – a target closely watched by investors – but is forecasting lower sales in 2025.
The electric vehicle maker reported a gross profit, which includes production and sales but does not factor in other expenses, of $170 million during the final quarter of last year. Rivian said it plans to achieve another “modest gross profit” in 2025. It has not said when it expects to be profitable on a bottom-line basis.
For 2025, Rivian also expects to narrow its adjusted losses to a range of $1.7 billion to $1.9 billion – down from a loss of $2.69 billion in 2024. The company forecasted deliveries of 46,000 to 51,000 units for 2025, compared with 51,579 vehicles delivered last year.
Shares of Rivian were up about 7% during afterhours trading Thursday. The stock closed at $13.61 a share, down 2.3%.
Rivian CEO RJ Scaringe told…
