Rivian (Rnvn) Reported the strong results of the fourth quarter after the bell on Thursday and brought through its goal of posting “gross profit” for the quarter, with EBITDA full year 2024 less than expected (earnings before interest, taxes, depreciation, and depreciation , and amortization) loss to boot. The company also sees a smaller loss in 2025 compared to a year ago.
Rivian reported a gross profit of $ 170 million in the fourth quarter, mainly driven by “various cost improvements, revenue per unit sent, and fixed costs,” the company said in a statement.
“This quarter we achieved positive gross profits and removed $ 31,000 in the automotive cost of the goods sold per vehicle delivered in CH4 2024 compared to CH4 2023,” said Rivian RJ Scarine CEO in a statement. ”Our focus on cost efficiency across the business is crucial for the business launching our mass market products, R2. The R2 Materials Bill is approximately 95% of sources and is expected to be approximately half the Bill R1 Bill of better materials. “
Rivian stock was up over 3% in trading after hours.
For the quarter, Rivian reported revenue of $ 1.73 billion against $ 1.38 billion that all Bloomberg consensus estimates are expected, 32% higher than the $ 1.31 billion reported a year ago. The company reported a modified loss per share of $ 0.46, beating estimates for a loss of $ 0.65, with a modified EBITDA loss of $ 277 million, better than the expectation of $ 399.8 million.
For the year 2024, Rivian posted a modified Ebitda loss of $ 2.68 billion, lower than the $ 2.87 billion loss forecast last quarter and an amendment compared to the $ 3.78 billion loss a year ago.
In terms of guidance, Rivian sees his full -year adapted EBITDA loss in the range of $ 1.7 billion to $ 1.9 billion, with vehicle deliveries between 46,000 and 51,000.
In early January, the company said it had produced 49,476 vehicles and delivered 51,579 in 2024. At CH4, Rivian produced 12,727 vehicles and sent 14,183 vehicles.
Rivian said he had $ 5.29 billion in cash and cash equivalent, down from the $ 7.85 billion he had a year ago.
The fourth quarter was an interesting one for Rivian. The company announced expanding its partnership with Volkswagen (Vwagy) In November, with the German automaker pouring more money into a joint venture.
The joint venture, Published last June.
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