Rivian Automotive Inc (NASDAQ:RIVN) announces its second-quarter earnings after Tuesday’s market close, with the market keen to see confirmation of the Amazon-partnered electric vehicle (EV) manufacturer’s step-change in revenue.
The market is expecting to see revenue up above US$1 billion after last month’s unexpectedly strong trading update.
Rivian last month stunned the market by reporting a 60% quarter-on-quarter sales increase, with a 50% boost in production.
It retained the full-year 2023 target at 50,000 vehicles whilst revealing the ramp-up last month.
Quarterly figures will be eyed at around 14,000 vehicles.
According to Zacks Investment Research, the market expects sales of $978.88 million, which if confirmed would mark an improvement of nearly 170%, meanwhile, Zack’s compiled consensus sees an earnings loss of $1.41 per share, narrowed some 25% by year-over-year comparatives.