TLDR
- Rivian Automotive (RIVN) stock rose 7% in pre-open trading to $12.27 after third-quarter results beat estimates.
- Revenue grew 38% to $2.16 billion, topping the $1.99 billion forecast. The adjusted loss was $0.48 per share versus $0.64 expected.
- Rivian raised its 2026 delivery guidance to 67,000 to 70,000 vehicles and narrowed its adjusted EBITDA loss outlook to about $1.8 billion.
- CEO RJ Scaringe expects to hit an autonomy milestone by year-end, which would unlock $250 million from Uber.
- The stock sat near its 52-week low of $11.38 before the report, while the broader market traded lower.
Rivian Automotive (RIVN) stock climbed 7% in pre-open trading on Friday to $12.27. The move followed third-quarter results that beat Wall Street estimates on nearly every measure.
The electric vehicle maker posted revenue of $2.16 billion, up 38% from a year ago. Analysts had expected about $1.99 billion.
The adjusted loss came in at $0.48 per share. That compares with the $0.64 loss analysts had forecast.
RIVIAN $RIVN Q3’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $2.16B (Est. $1.99B) 🟢; +38% YoY
🔹 EPS: -$0.63 (Est. -$0.84) 🟢
🔹 Gross Profit: $176M (Est. $110M) 🟢
🔹 Adj. EBITDA: -$435M (Est. -$574M) 🟢FY26 Guide:
🔹 Adj. EBITDA: -$1.9B to -$1.8B (Est. -$1.84B) 🟡
🔹 Deliveries:… pic.twitter.com/euv9bDuqYg— Wall St Engine (@wallstengine) October 29, 2026
Gross profit reached $176 million, well above estimates near $110 million. Rivian linked the gain to better unit economics as the R2 ramp picks up speed.
Net loss narrowed to $913 million from $1.2 billion in the same quarter last year. Adjusted loss per share improved from $0.65 a year earlier.
Deliveries and Guidance
Rivian produced 19,751 vehicles in the quarter and delivered 19,248. The company called it a record for deliveries.
For the full year, Rivian now expects to deliver between 67,000 and 70,000 vehicles. That is higher than its prior outlook.
The company also tightened its adjusted EBITDA loss forecast to about $1.8 billion. Analysts had been looking for a loss near $1.89 billion.
CEO RJ Scaringe said R2 became the company’s best-selling vehicle by volume in the quarter. He added that the autonomy platform is moving quickly and that the team is excited about its Point to Point feature.
Autonomy and the Uber Deal
Scaringe said he is confident Rivian will reach an autonomy milestone by the end of the year. Hitting it would release a $250 million tranche of Uber’s investment in the company.
That investment is part of a wider partnership. The two companies are targeting driverless R2 robotaxi service on Uber’s platform by 2028.
Scaringe also said Autonomy+ subscription take rates are running above Rivian’s own internal targets. That adds a software revenue line to the story.
The stock had been trading close to its 52-week low of $11.38 before the report. So the pre-market pop comes off a weak starting point.
Markets were under pressure on Friday. The S&P 500 was down about 1% and the Nasdaq was off about 2%, with ongoing worries about AI spending weighing on tech.
The Employment Cost Index for the third quarter is due this morning. On Thursday, an advance GDP reading of 3.4% for the quarter came in stronger than expected.
Rivian shares were up about 1% after the release, according to one report, and one market data feed showed the stock down about 2% at last check.
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