Rivian beat first-quarter expectations Tuesday and reaffirmed its 2025 earnings targets, according to CNBC. The EV maker trimmed its guidance for vehicle deliveries and increased capital spending amid rising costs from Trump’s tariffs. The EV maker reported a narrower-than-expected loss of 41 cents per share and $1.24 billion in revenue, driven by strong regulatory credit sales and growth in software and services. Rivian now expects to deliver between 40,000 and 46,000 vehicles this year, down from 46,000 to 51,000, and plans to spend up to $1.9 billion in capex, up from earlier guidance of $1.7 billion. CFO Claire McDonough said new tariffs could add “a couple thousand dollars” in costs per vehicle, even though all Rivian models are built in the U.S.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Rivian beat first quarter expectations Tuesday and reaffirmed its 2025 earnings targets,
00:06according to CNBC.
00:08The EV maker tripped its guidance for vehicle deliveries and increased capital spending
00:11amid rising costs for Trump's tariffs.
00:13The EV maker reported a narrowly expected loss of $0.41 per share and $1.24 billion in revenue,
00:20driven by strong regulatory credit sales and growth in software and services.
00:24Rivian now expects to deliver between 40 and 46,000 vehicles this year,
00:28down from $46,000 to $51,000.
00:31Planned to spend up to $1.9 billion in CAPEX, up earlier for guidance of $1.7 billion.
00:36CFO Claire McDonough said new tariffs could add a couple thousand dollars in costs per vehicle,
00:40even though all Rivian models are built in the U.S.
00:43For all things money, visit Benzinga.com slash GSTV.