Rivian

Rivian is betting on supply-chain improvements to increase production with a second shift at its Normal, Ill., plant.

Scaringe said launching a second shift will take time, but the company is already hiring and training workers. "And we certainly think that's leading to some of the accelerated demand we're now witnessing." The automaker has also loaned out R1T pickups and R1S SUVs to automotive journalists and influencers, who generally have been delivering positive reviews of the two consumer vehicles.

Rivian Automotive (RIVN) – Rivian shares fell 1% in premarket trading after the electric vehicle maker widened its loss estimate for 2022. It also affirmed ...

Toast (TOST) – Toast surged 12.9% in premarket action after the restaurant payment technology company raised its full-year earnings outlook. Poshmark reported a loss for its latest quarter on increased marketing and research and development expenses, but sales were better than analysts had anticipated. Illumina said a challenging economic environment is offsetting growth in the use of its gene-sequencing platform.

Rivian Automotive: The electric-vehicle manufacturer's net loss in the second quarter nearly tripled to $1.7 billion, further pressuring it to conserve cash ...

T-Mobile shares edged up 0.3% off hours.\n\nFlower Foods: The Wonder Bread maker suffered a profit decline after inflation and supply chain issues boosted costs, though sales were slightly better than expected. Rivian Automotive: The electric-vehicle manufacturer's net loss in the second quarter nearly tripled to $1.7 billion, further pressuring it to conserve cash and move quickly to fill customer orders. Its shares added 1.5% off hours.\n\nToast: Shares of the company, which provides a digital technology platform for restaurants, jumped 13% premarket after it boosted its revenue and earnings outlook for the year after logging higher second-quarter sales.\n\nSmartRent: The property-management technology company's shares dropped 14% off hours after it reported a wider loss in the recent quarter.\n\nPoshmark: The online marketplace's shares slipped 1.6% premarket after its revenue guidance fell short of analysts' expectations.

The EV automaker says that it's still on track to deliver 25000 vehicles by the end of 2022.

Bloomberg Intelligence predicts that Rivian might burn somewhere in the neighborhood of $19 billion through 2024. Deliveries now stand at 5,694 for the first half of 2022. That’s more than double the $410 million it spent in the same time period last year so analysts will be watching closely as the brand’s Q2 earnings report comes out.

Analysts applaud Rivian's ability to maintain its 2022 production guidance despite ongoing supply-chain snarls. Whether the company can execute will be ...

The maker of electric trucks posted revenue of $364 million in the quarter, beating expectations for $336 million. Analysts were cheering the company’s guidance. RIVN

The EV truck maker lost a lot of money in the second quarter of 2022.

In June of last year, the Biden administration restored a $929 million grant for the project. “In our case, we were the first to be affected by the lockdown, as we had been promoting the procurement of parts via China for a while,” Mukai said. Have a couple brewskis and sit out in a lawn chair. The rail will ultimately travel from San Francisco to the Los Angeles basin at over 200 miles per hour (322 kph) in under three hours. The new grant helps to fund “design civil infrastructure, track and systems and station platforms,” USDOT said. That compares with a 35-day supply a month earlier and a 31-day supply at the same point last year, when Cox estimated inventory at 1.2 million. It aims to hit 25,000 by the end of the year. Of that, just 9,530 were in dealers’ hands, with the remainder still in the delivery pipeline. It’s primarily due to the continued supply chain issues and the microchip shortage. Electric truck maker Rivian reported its net loss in the second quarter tripled to $1.7 billion, something we saw coming yesterday. Cox said the total represented a 37-day supply, based on its practice of using the selling rate from the most recent 30-day period. The results, while bleak, roughly met analysts’ expectations.

Rising costs resulted in a net loss of $1.7 billion for the second quarter. Rivian still holds $15.4 billion in cash as of June 30, 2022.

But those rising preorders have also put the company in a bit of a financial bind. The preorders of its consumer trucks are in addition to an existing 100,000-vehicle order from Amazon for Rivian's electric delivery vehicles. The increase in vehicle production comes as preorders for Rivian's consumer vehicles also continue to grow. That means it has the materials and equipment it needs to continue to ramp up, which is a big deal. Earlier this year, Rivian told investors that it would be limited to producing 25,000 vehicles for the full year even though it already had equipment and processes in place at its Illinois factory to support the production of 50,000. Perhaps the best news to be gleaned from Rivian's comments is what its production guidance means for the future.

Rivian is betting on supply-chain improvements to increase production with a second shift at its Normal, Ill., plant.

Scaringe said launching a second shift will take time, but the company is already hiring and training workers. "And we certainly think that's leading to some of the accelerated demand we're now witnessing." The automaker has also loaned out R1T pickups and R1S SUVs to automotive journalists and influencers, who generally have been delivering positive reviews of the two consumer vehicles.

Electric pickup truck maker, Rivian (RIVN), released its highly anticipated Q2 earnings yesterday, confirming a $1.7 billion loss as the EV maker races the ...

That said, the company is planning for a second shift to add production in the third quarter. The company ended the quarter with $15.4 billion in cash and equivalents. A challenging business environment in Q2 is forcing Rivian to cut its financial earnings outlook for the year. As the company scales production, a negative gross profit is to be expected. Rivian’s operating expenses rose 73% to over $1 billion, compared to $580 million in Q2 2021. Rivian generated a negative gross profit in the second quarter of $704 million.

On its Q2 earnings call yesterday, Rivian gave us a glimpse into what we can expect from its newest R2 platform. Rivian is burning through cash as its ramps ...

It also entails us the opportunity to invest in the first 200,000 units of capacity for R2 in Georgia. Let’s see if the company can first hit its goal of producing 25,000 units this year. Yet, the R2 platform may become a priority as incentives expect to ramp up EV demand. At the same time, Rivian is facing issues amid industrywide supply chain disruptions and rising input costs this year. Rivian’s CEO is talking about the EV tax credits included in the bill. On its Q2 earnings call yesterday, Rivian gave us a glimpse into what we can expect from its newest R2 platform.