2 Key Things From Rivian's Earnings Call Investors Should Know
Earlier this month, premium electric vehicle (EV) maker Rivian Automotive (NASDAQ: RIVN) turned in a second-quarter report that's best described as mixed.
On the positive side, its revenue of $364 million beat Wall Street's consensus estimate of $337.5 million, and it reaffirmed its 2022 production target of 25,000 vehicles. The company's revenue was primarily derived from the delivery of 4,467 vehicles during the second quarter.
On the other hand, Rivian revised downward its full-year outlook for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to negative $5.45 billion, from negative $4.75 billion. This revision was largely due to macroeconomic factors, including high inflation and increased expenses associated with the global supply chain issues.
Source Fool.com
