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Home  ›  Rivian shares rise on second-quarter results: 'The ball is finally rolling' for the EV maker, says analyst

Rivian shares rise on second-quarter results: 'The ball is finally rolling' for the EV maker, says analyst

Written By Friday, August 12, 2022 Add Comment Edit

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Rivian: Q2 earnings takeaways

Yahoo Finance's Pras Subramanian breaks downwardly Rivian earnings, production, Q2 loss, and the outlook for the stock.

Video Transcript

BRIAN CHEUNG: Rivian reporting earnings yesterday. And we listened in to the call to bring you the good, the bad, and the questionable. Joining us now for all three of those things, Yahoo Finance'south Pras Subramanian. And you know, we talked nearly this after the bell yesterday. A very closely watched report. They're experiencing supply-chain issues. The backlog is notwithstanding very much there. And a big loss getting a lot of attention in that written report as well.

PRAS SUBRAMANIAN: Yeah, I mean, I kind of see it as the practiced, the bad, and somewhat unknown, correct? We're talking virtually adept stuff, correct? Maintain that production forecast, 25,000 vehicles, rising acquirement that they reported, calculation a second shift next quarter, 98,000 pre-orders.

The bad, that $1.7 billion loss for the quarter. They're seeing-- they run across that their total year adjusted EBITDA loss expanding to $5.45 billion for the year. I mean, these are huge, staggering numbers. Negative cyberspace margins still like over 100%. So this stuff is really kind of problematic.

And and then the unknown, correct? So talk almost the manufactory has a install capacity they want to proceed expanding. They're saying that they can't tell united states when they can get to that level of 150 to 200,000 vehicles a yr. They can't tell the states what their weekly production is considering it's so-- it varies so much week to week because of parts orders.

So a lot of uncertainty there with the growth of the company. Simply some good stuff, too, correct? Considering the demand for the product is however in that location. They just can't make it fast enough.

BRIAN CHEUNG: Yeah, well, I hateful, I guess that begs the question though, right? 25,000 vehicles is for the year--

PRAS SUBRAMANIAN: Yes--

BRIAN CHEUNG: --that their--

PRAS SUBRAMANIAN: --the year.

BRIAN CHEUNG: --target is, right? They had 4,400, as nosotros're showing on the full screen now, produced in the 2nd quarter. How optimistic is that 25,000, though? Because a lot of that is going to depend on whether or not they could go the fries and everything else, which continues to be a supply-chain issue non just for Rivian just for all automakers.

PRAS SUBRAMANIAN: They're gonna make some like 19,000 vehicles in the side by side six months. And RJ Scaringe, CEO, is asked a couple of times in the call, is this realistic? And he said, yes, it is. Nosotros tin can do this, even though I can't tell you lot how much we're gonna make week to week. I can tell y'all that we're gonna striking that target.

And so he'south optimistic. It sounds like they're able to-- information technology's an issue of getting the parts. And I remember they've sort of solved that issue. They're getting more than and more of their suppliers to bring their stuff in-- on line faster. So I think they're confident that they can do information technology.

BRIAN CHEUNG: Then quickly, about the F-150 Lightning, right? Nosotros've seen toll increases for that. Rivian trying to make a play on the reverse end past trying to get people to perhaps become on to the reservation list, guaranteeing them that credit earlier it perhaps gets thrown abroad as function of the Inflation Reduction Act that we were talking almost. How do you lot think that impacts Rivian's excess?

PRAS SUBRAMANIAN: So you know, we talked most how that 98,000 pre-order was as of June xxx, right? I have to imagine they got a lot more after last week when-- before this the IRA is going to be signed, because they were as well non merely talking virtually, you know, this happening, merely also here'southward a way to actually get around that. Sign this purchase agreement, pay $100 nonrefundable as a consideration. And we'll see what nosotros tin can exercise to get you that tax credit in full subsequently.

BRIAN CHEUNG: All right, Yahoo Finance's Pras Subramanian, thanks so much.

Source: https://finance.yahoo.com/video/rivian-q2-earnings-takeaways-152912784.html

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