Story
Rivian Q3 Deliveries Surpass Estimates on R2 SUV Demand
Summary
The electric vehicle maker delivered a record 19,248 vehicles in the third quarter, exceeding analyst expectations and reaffirming its full-year forecast as production of its new R2 SUV ramps up.
Rivian Automotive (NASDAQ: RIVN) reported record vehicle deliveries for the third quarter, surpassing Wall Street estimates as the company benefits from the rollout of its more affordable R2 sport utility vehicle. The news sent the company's shares up approximately 1.4% in premarket trading on Friday.
Record Quarter Details
For the quarter ending September 30, Rivian announced it delivered 19,248 vehicles, a new company record. This figure exceeded the average analyst estimate of 18,001 vehicles, according to data compiled by Visible Alpha.
The company produced 19,751 vehicles during the same period at its manufacturing plant in Normal, Illinois. Citing performance in line with its expectations, Rivian also reaffirmed its full-year 2026 delivery forecast of 65,000 to 70,000 vehicles, which aligns with the analyst consensus of 66,685 vehicles.
AdStrategic Shift to Mass Market
The strong quarterly performance underscores the strategic importance of the new R2 SUV, which began deliveries in June. Analysts view the model as critical to Rivian's long-term growth, as it targets a broader consumer base than its premium R1S SUV and R1T pickup truck.
The expansion comes as the broader electric vehicle industry faces headwinds, including the phase-out of some federal tax credits, tariffs, and signs of weakening consumer demand. The company is scheduled to report its full third-quarter financial results on October 29.
Read next
More on Stocks
AI Stock Model Rebalances for October, Adds Skyworks and EOG Resources
An AI-driven stock-picking strategy has rebalanced its portfolio, taking profits on major winners like NetApp and SM Energy and redeploying capital into new positions including Skyworks Solutions and EOG Resources.
Sanofi Options Trading Skews Bearish as Shares Fall Nearly 4%
Options activity in Sanofi surged with a strong bearish bias as the stock dropped 3.8%, though complex long-term trades suggest some investors are positioning for a potential rebound.
Rivian Beats Q3 Delivery Estimates, Reaffirms Full-Year Guidance
The electric vehicle maker delivered 19,248 vehicles in the third quarter, surpassing analyst forecasts of 18,001. Rivian maintained its annual delivery target of 65,000 to 70,000 vehicles, boosting its shares in premarket trading.
Airbnb Upgraded by KeyBanc on Hotel Growth, Durable Core Business
KeyBanc Capital Markets raised its rating on Airbnb to Overweight, setting a $191 price target and citing the rapid expansion of its hotel segment as a key new growth engine.