Rivian Automotive (RIVN) Q3 2026 Earnings Report
MX:RIVN Q3 2026 EPS Results
- Actual EPS
- -MXN 9.02
- Consensus EPS
- -MXN 12.10
- Beat/Miss
- Beat by +MXN 3.08
- One Year Ago EPS
- -MXN 12.40
MX:RIVN Q3 2026 Revenue Results
- Actual Revenue
- MXN 40.48B
- Expected Revenue
- MXN 37.59B
- Beat/Miss
- Beat by +MXN 2.89B
- YoY Revenue Growth
- +38.32%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/29/2026
- Time
- After Close
- Conference Call
- Thursday, October 29, 2026
MX:RIVN Upcoming Earnings
Rivian Automotive's next earnings date is estimated for February 25, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:RIVN Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly optimistic about R2's early sales momentum, manufacturing ramp, improving delivery outlook, liquidity, commercial van demand, and the Autonomy road map. These positives were tempered by continued adjusted EBITDA and Automotive gross profit losses, approximately $120 million of R2 ramp-related cost of revenue, input-cost and supply-chain pressures, higher planned Autonomy investment, and a CFO transition. Overall, the highlights significantly outweighed the lowlights.
Company Guidance
Management improved full year delivery guidance from 65,000 to 70,000 units to 67,000 to 70,000 units, expects R2 to represent the majority of total delivery volume in the fourth quarter, and expects to achieve a positive Automotive gross margin exit rate for the year, meaning Automotive gross profit at the quarter exit rather than for the full quarter; full year 2026 adjusted EBITDA losses are expected to be between $1.85 billion and $1.75 billion, representing a $100 million improvement at the midpoint, while revised 2026 CapEx guidance is $1.4 billion to $1.5 billion, $300 million lower at the midpoint due to a shift in timing, followed by a meaningful year-over-year step-up in CapEx in 2027; R&D is expected to have a low double-digit growth rate from Q3 this year to Q4 and grow more significantly in '27 than it did in '26, the limited rollout of Point to Point is expected to begin later this year with a general release to all Autonomy+ subscribers in 2027, and the second Uber milestone is expected later this year to trigger an additional $250 million equity investment.
- Record Production, Deliveries, and R2 Volume LeadershipRivian achieved record production volumes in Normal and record deliveries in the third quarter. It produced 19,751 vehicles and delivered 19,248 vehicles, with R2 becoming the best-selling vehicle by volume and outselling both R1 and EDV.
- Strong R2 Customer Engagement and ConversionRivian hosted more than 103,000 R1 and R2 demo drives in the third quarter, surpassing the prior-quarter record. Reservation conversion rates for the launch edition R2 remained higher than expectations, and the vehicle received positive media reviews, including Top Gear's SUV of the Year Award for 2027.
- R2 Manufacturing Ramp ProgressThe second R2 manufacturing shift has started at the Normal facility, and Rivian expects its manufacturing run rate to increase over the coming quarters. Construction of the next manufacturing site in Georgia is progressing well.
- Revenue Growth and Positive Consolidated Gross ProfitConsolidated revenue was $2.155 billion, up 38% year over year. Consolidated gross profit was $176 million, with an 8% gross profit margin.
- Automotive Revenue and Gross Profit ImprovementAutomotive revenue was $1.55 billion, up 36% year over year, primarily driven by a 46% increase in vehicle deliveries and $81 million of regulatory credits. Automotive gross profit loss improved by $50 million year over year, from a $130 million loss to an $80 million loss, due primarily to higher delivery volumes, improved per-unit margin, regulatory credit revenue, and an IEEPA tariff refund receivable.
- Software and Services GrowthSoftware and Services revenue reached $605 million, up 45% year over year, primarily due to increases in vehicle electrical architecture and software development services by the joint venture, vehicle repair and maintenance services, and Autonomy+. Software and Services gross profit was $256 million, representing a 42% margin, due to a better-than-expected mix of more profitable revenue streams.
- Volkswagen Joint Venture Contribution$354 million, or approximately 60%, of Software and Services revenue was attributable to Rivian's joint venture with Volkswagen Group. Rivian said the first major output of the joint venture, Volkswagen's roughly EUR 20,000 ID.1 EV for Europe, is expected to launch next year.
- Improved Full-Year Delivery GuidanceRivian raised its 2026 full-year delivery guidance from 65,000 to 70,000 units to 67,000 to 70,000 units. R2 is expected to represent the majority of total delivery volume in the fourth quarter.
- Improved EBITDA OutlookRivian now expects 2026 adjusted EBITDA losses of between $1.85 billion and $1.75 billion. At the midpoint, this represents a $100 million improvement, driven by favorable regulatory credit revenue, an IEEPA tariff receivable, and expected increased delivery volume.
- Expected Positive Automotive Gross Profit Exit RateRivian expects to achieve a positive Automotive gross profit exit rate for the year. Management said this would establish a foundation for continued margin expansion as R2 ramps through 2027, although the positive result is expected at the quarter exit rather than for the full quarter.
- R2 Cost Reduction and Cash Automotive Gross ProfitRivian reported approximately a $12,000 per-unit step-down in cost of goods sold per unit delivered in the second quarter, with R2 introduction and scale at Normal cited as the biggest drivers. Automotive gross profit, excluding regulatory credits and on a cash basis, was positive for the quarter, and management expects that momentum to continue as R2 scales.
- Strong Liquidity and Additional Capital CommitmentsRivian ended the quarter with approximately $5.5 billion in cash, cash equivalents, and short-term investments. It also funded a $1 billion, 10-year Volkswagen term loan facility at a fixed interest rate of 6%. Rivian has received $5.3 billion of the $5.8 billion in expected Volkswagen joint-venture capital commitments, and expects an additional $250 million equity investment from Uber upon achieving its next milestone. Including current liquidity and targeted future capital from Uber, Volkswagen, and the Department of Energy loan, all subject to certain conditions, total available liquidity and targeted future capital would be approximately $13 billion.
- CapEx Guidance ReductionRivian lowered 2026 capital expenditure guidance by $300 million at the midpoint, bringing the revised range to $1.4 billion to $1.5 billion. Management attributed the reduction to a timing shift in certain capital spending.
- Autonomy+ Momentum and Point to Point Road MapAutonomy+ take rates are trending ahead of expectations and the feature is available on every R2 and R1 starting with the 2025 model year. Vehicles with Autonomy+ are capable of hands-free driving on millions of miles of roads. A limited rollout of Point to Point is expected later this year through the invitation-only Autonomy Early Access Program, with general availability to Autonomy+ subscribers in 2027.
- Expanded Autonomy Technology DevelopmentRivian continues to develop its Large Driving Model for R1, R2, commercial vehicles, robotaxi applications, and the Uber partnership, which targets a 2028 launch. The acquisition of Third Dimension AI is intended to support closed-loop simulation and more rapid model validation and iteration. Rivian also said its next hardware generation will include two RAP1 processors totaling 1,600 TOPS, an enhanced camera and radar perception platform, and LiDAR.
- Uber Partnership ProgressRivian remains on track to achieve its next Uber partnership milestone by the end of the year, which is expected to unlock an additional $250 million of equity investment.
- Commercial Van ExpansionAmazon continues to expand its electric delivery van fleet across North America. Rivian began delivering new variants designed to expand route coverage into more rural networks, including all-wheel drive and a larger battery pack offering 30% more range. Rivian also said the commercial van program is attracting interest from potential customers beyond Amazon, including ongoing discussions with other commercial operators.
- AI-Defined Vehicle FeaturesRivian introduced Rivian Assistant and Gmail integration in its October over-the-air update. Management highlighted the company's vertically integrated hardware and software platform as enabling immersive features such as the Sony Pictures and Bill Murray Ghostbusters Halloween Mode.
- Broader R2 Market PositioningR2 pricing starts at $45,000 and extends to approximately $57,000, placing it in the price range of the average new vehicle in the United States and in the midsized crossover and SUV segment. Rivian plans multiple configurations across performance, range, price point, and content to cover a broader demand curve.
MX:RIVN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 25, 2027 | 2026 (Q4) | -10.56- | -10.01 | ― | ― |
| Oct 29, 2026 | 2026 (Q3) | -12.10-9.02 | -12.4 | 27.27% (+3.38) | |
| Jul 30, 2026 | 2026 (Q2) | -12.46-8.89 | -15.01 | 40.80% (+6.12) | |
| Apr 30, 2026 | 2026 (Q1) | -11.87-10.28 | -7.76 | -32.45% (-2.52) | |
| Feb 12, 2026 | 2025 (Q4) | -13.30-10.01 | -8.98 | -11.51% (-1.03) | |
| Nov 04, 2025 | 2025 (Q3) | -13.88-12.40 | -18.26 | 32.10% (+5.86) | |
| Aug 05, 2025 | 2025 (Q2) | -12.14-15.01 | -23.58 | 36.33% (+8.57) | |
| May 06, 2025 | 2025 (Q1) | -14.47-7.76 | -23.33 | 66.75% (+15.57) | |
| Feb 20, 2025 | 2024 (Q4) | -12.77-8.98 | -25.55 | 64.85% (+16.57) | |
| Nov 07, 2024 | 2024 (Q3) | -17.96-18.26 | -22.36 | 18.32% (+4.10) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed