Rivian Automotive Reports Better Than Expected Q2 Results
<p><a href='https://financialmodelingprep.com/financial-summary/RIVN'>Rivian Automotive (NASDAQ:RIVN)</a> reported its Q2 results last week, with EPS of ($1.62) coming in slightly better than the Street estimate of ($1.63). </p>
<p>Revenue was $364 million, beating the Street estimate of $335.38 million. R1 net preorders were up to approximately 98,000 in US/Canada as of June 30. The average daily preorder rate accelerated in Q2 compared to Q1. The company reiterated its 25,000 production target. </p>
<p>On the negative side, the 2022 EBITDA guidance was adjusted to ($5.45) billion vs. ($4.75) billion prior, reflecting the latest estimates of ramp and inflation.</p>

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