Rivian (RIVN) Q2 2026 earnings

Key Points:

• Rivian Automotive lowered its 2026 capital expenditure plans to $1.7-$1.8 billion from $1.95-$2.05 billion and narrowed its 2024 adjusted loss forecast to $1.8-$2 billion from $1.8-$2.1 billion, citing project efficiencies and timing of spending.
• The company reaffirmed its delivery target of 65,000 to 70,000 vehicles for 2024, driven by increased deliveries of its electric delivery van, flagship R1 products, and the new midsize R2 SUV, which began production at its Illinois plant.
• Rivian posted a Q2 adjusted loss per share of 47 cents, beating the expected 63 cents loss, with revenue of $1.66 billion surpassing estimates; automotive revenue rose 23% year-over-year due to higher vehicle deliveries and regulatory credit gains.
• The company reported a gross profit of $179 million in Q2, including a $36 million loss in automotive offset by a $215 million profit in its software and services division, highlighting growth in its software segment.
• Rivian's cash and equivalents increased to an estimated $5.3 billion, supported by upcoming expected financing including $1 billion in non-recourse debt from a Volkswagen software deal and a $250 million equity investment from Uber.