Rivian reports Q3 EPS (96c), consensus (86c)

Reports Q3 revenue $1.56B, consensus $1.51B. Reports Q3: 10,720 vehicles produced at Rivian’s (RIVN) manufacturing facility in Normal, Illinois.13,201 vehicles delivered to customers, which is expected to be the highest delivery quarter for the year, as previously stated. “In Q3, we continued to make significant progress across our strategic priorities which includes R2 and our technology roadmap. R2 delivers on the adventurous spirit customers expect from Rivian. It’s also a great daily driver that will fit so many different use cases for our customers. Over the long term, we believe the automotive industry will be fully electric, autonomous and software-defined. We continue to believe that Rivian’s vertically integrated technologies and direct-to-customer ownership experience position our company to build a category-defining brand with a strong product portfolio for the U.S. and European markets.”