Rivian Stock Dips Post Q3 Production and Delivery Report
Rivian Automotive Inc. (NASDAQ: RIVN ) shares are dropping Friday despite the company reporting third-quarter production and delivery figures that came in line with its own outlook. Rivian Automotive stock is among today’s weakest performers. What’s weighing on RIVN shares? Rivian’s Q3 Results Match Guidance, Full-Year Outlook Reaffirmed Rivian’s Normal, Illinois plant turned out 19,751 vehicles during the three months ending September 30. The company handed off 19,248 of those to customers over that same window. Both figures landed right where Rivian said they would. The company kept its full-year delivery target untouched too, still expecting somewhere between 65,000 and 70,000 vehicles for 2026. Even with guidance left unchanged, Rivian stock remained under pressure. Q3 Output Builds On a Strong Second Quarter Compared with the prior quarter, Rivian’s latest numbers show real growth. Back in the second quarter, the company turned out 12,613 vehicles and got 12,194 into customers’ hands, well below this quarter’s totals. That earlier period also brought in almost $1.66 billion in overall revenue, a 27% jump from the same quarter a year earlier. Breaking that down further, vehicle
Rivian Automotive Inc. (NASDAQ: RIVN ) shares are dropping Friday despite the company reporting third-quarter production and delivery figures that came in line with its own outlook. Rivian Automotive stock is among today’s weakest performers. What’s weighing on RIVN shares?
Rivian’s Q3 Results Match Guidance, Full-Year Outlook Reaffirmed Rivian’s Normal, Illinois plant turned out 19,751 vehicles during the three months ending September 30. The company handed off 19,248 of those to customers over that same window. Both figures landed right where Rivian said they would. The company kept its full-year delivery target untouched too, still expecting somewhere between 65,000 and 70,000 vehicles for 2026.
Even with guidance left unchanged, Rivian stock remained under pressure. Q3 Output Builds On a Strong Second Quarter Compared with the prior quarter, Rivian’s latest numbers show real growth. Back in the second quarter, the company turned out 12,613 vehicles and got 12,194 into customers’ hands, well below this quarter’s totals. 66 billion in overall revenue, a 27% jump from the same quarter a year earlier.
14 billion, up 23% annually, even as average selling prices slipped due to a bigger mix of commercial vans and R2 deliveries. 79 across 21 analysts and spanning $14 to $25. Dig into the more recent calls, though, and the mood looks less enthusiastic. Citigroup opened coverage September 14 with a Neutral rating and an $18 target.
RBC Capital nudged its target to $16 on July 31, but kept its Sector Perform rating unchanged. Morgan Stanley moved the same day, lifting its target to $14 while sticking with an Underweight call. 21 at the time of publication on Friday, according to Pro. Read Also: Stock Market Today: S&P 500, Dow Jones Futures Gain as September Jobs Report Misses Expectations— Nike, Synaptics, Corteva in Focus (UPDATED) Image: Shutterstock