Rivian Surpasses Q4 Forecasts, Charts Ambitious 2026 Production Surge

Rivian Automotive delivered a stronger-than-anticipated fourth quarter, propelling its stock upward by more than 15% in after-hours trading Thursday. The electric vehicle maker also outlined an aggressive plan to boost vehicle deliveries by nearly 60% this year, though it warned investors that significant financial losses will persist.

The company's 2026 guidance calls for delivering between 62,000 and 67,000 vehicles, a substantial jump from 2025. This growth hinges on the launch of its more affordable R2 SUV, slated for the second quarter. CEO RJ Scaringe told CNBC the R2 is projected to become the core of Rivian's sales volume by late 2027 as production ramps in Normal, Illinois.

Despite the optimistic delivery forecast, Rivian expects adjusted pre-tax losses for 2026 to remain steep, between $1.8 billion and $2.1 billion. The company reported a net loss of $3.6 billion for 2025, an improvement from the previous year. That figure was partly affected by an $804 million fourth-quarter loss, which widened after a decline in revenue from regulatory credits. This decline followed adjustments to federal fuel economy rules.

Financially, Rivian beat analyst expectations for the quarter, posting an adjusted loss per share of 54 cents against an estimated 68 cents, and revenue of $1.29 billion versus $1.26 billion expected. For the full year 2025, revenue reached $5.67 billion. A bright spot was a full-year gross profit of $144 million, driven largely by a software joint venture with Volkswagen that offset automotive segment losses.

The company enters this pivotal year with $6.59 billion in total liquidity. The success of the R2, priced around $45,000, is central to its strategy. Rivian states the new model should halve material costs, simplify manufacturing, and tap into a broader market than its current R1 vehicles, which start above $70,000.

Source: CNBC