Rivian Rises as R2 Leads Record Deliveries and Improved Outlook

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Rising.Stars identifying stocks that finish the trading day with impressive gains. With a focus on market dynamics and late-day trading patterns.
 

•  30 Oct 2026
 

$RIVN Rivian rises 3.6% to about $11.90 after quarterly earnings beat expectations across all major metrics, with the R2 becoming its bestselling model in the third quarter. The smaller, lower-priced SUV drove record deliveries and an improved annual outlook. The electric vehicle manufacturer reported revenue of $2.16 billion, up 38%, and a smaller adjusted loss than expected, while cutting planned capital spending. However, its automotive division remains unprofitable, and cash burn exceeds $1 billion per quarter.

Rivian remains in positive territory on a day of heavy selling in technology stocks. Shares gained more than 8% in premarket trading, just one day after reaching a 52-week low of $11.38. Anat Gilad reported the article on October 30, 2026, at 21:21. The article topics are Rivian, electric vehicles, and financial results.

Revenue grew 38% to $2.155 billion, exceeding expectations of $1.99 billion. The adjusted loss was 48 cents per share, compared with analyst expectations of 62 cents. That compares with a loss of 65 cents per share in the corresponding quarter last year.

Rivian delivered a record 19,248 vehicles during the quarter, up 46% from the corresponding quarter and 58% from the previous quarter. Its factory in Normal, Illinois, produced 19,751 vehicles. The R2, whose first deliveries began in June, supplied most of the growth and already outsells the premium R1 and the EDV electric delivery van. Rivian does not disclose deliveries by model.

Founder and CEO R. J. Scaringe said customer and media responses to the R2 have been exceptional. He said the lower-priced versions are intended to cover a price range of $45,000 to $57,000. An accompanying explainer asks what the Rivian EDV is and who its largest customer is.

Consolidated gross profit improved to $176 million from just $24 million in the corresponding quarter. That performance relies heavily on software and services, where revenue rose 45% to $605 million. The division generated gross profit of $256 million, representing a 42% margin.

Rivian improved its full-year outlook across all parameters. Delivery guidance increased to 67,000 to 70,000 vehicles from 65,000 to 70,000, slightly above analyst estimates. The adjusted loss before interest, taxes, depreciation, and amortization, or EBITDA, is expected to total $1.75 billion to $1.85 billion, compared with the previous forecast of $1.8 billion to $2 billion. Capital expenditure is expected to fall to $1.4 billion to $1.5 billion from $1.7 billion to $1.8 billion. Rivian attributed the improved earnings outlook to higher-than-expected regulatory credit revenue, a tariff refund recorded during the quarter, and the expected increase in deliveries.

Negative free cash flow reached $1.12 billion during the quarter, compared with $421 million in the corresponding quarter. The deterioration primarily reflected inventory building ahead of increased R2 production and a decline in deferred revenue. Rivian ended the quarter with $5.5 billion in cash and short-term investments. Including its credit facility and a $1 billion loan received from Volkswagen after quarter-end, total liquidity stands at about $7.1 billion.

R2 profitability is the next test. Interim CFO Derek Mulvehill said during the earnings call that Rivian expects the R2 to help the automotive segment achieve a positive gross margin as it exits the year. Scaringe previously made clear that overall profitability requires production above the 160,000 R2 vehicles currently planned.

Rivian plans to open limited access to its Point to Point autonomous driving system by year-end. The system takes the vehicle from one address to another under driver supervision. Rivian will present additional details at its Autonomy and AI Day in December. A related article covers its acquisition of a British startup that builds three-dimensional worlds for autonomous driving training.

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