Rivian Automotive reported third-quarter results that exceeded Wall Street estimates, driven by increased production of its R2 entry-level sport utility vehicle. The company delivered a record 19,248 units during the three-month period ended Sept. 30, with the R2 becoming its best-selling model and contributing substantially to quarterly gains.
The company revised its 2026 full-year guidance to reflect operational improvements. Rivian now projects a pre-tax adjusted loss between $1.75 billion and $1.85 billion, representing a $100 million improvement at the midpoint compared to previous expectations. Vehicle deliveries are anticipated to reach between 67,000 and 70,000 units, up from the earlier forecast of at least 65,000 units. Capital expenditure guidance was reduced to between $1.4 billion and $1.5 billion, $300 million less at the midpoint than previously guided.
Rivian attributed the improved outlook to higher-than-anticipated revenue from regulatory credit sales, an IEEPA tariff refund receivable recognized during the third quarter, and expected increases in vehicle deliveries. The company’s net loss attributable to common stockholders narrowed to $913 million from $1.17 billion in the third quarter of 2025. Gross profit expanded significantly to $176 million from $24 million year-over-year, while adjusted earnings before interest, taxes, depreciation and amortization improved by $167 million to a loss of $435 million.
Rivian’s software and services segment demonstrated strong performance, generating $605 million in revenue with a gross profit of $256 million, representing a 42% margin. By contrast, automotive operations recorded nearly $1.55 billion in revenue but posted a gross loss of $80 million. CEO RJ Scaringe stated the company expects to achieve per-unit profitability on the R2 this year and emphasized that continued production ramp-up is essential for achieving positive gross margins on the vehicle and the overall business. Rivian maintained its cash, cash equivalents and short-term investments balance at $5.5 billion.
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