There's another thread already on yesterday's Q4 earnings report here: Rivian guidance on earnings
but as that one's mostly focused on production numbers, I thought it might be good to have a separate thread more focused on the financials.
Automotive News has a summary here: Rivian posts Q4 net loss of $2.5 billion
but to save you the click, the company posted a loss of $2.46 billion in Q4 2021 compared to a loss of $354 million for the same quarter in 2020. I guess that means running actual car plants is more expensive than just planning for it, but still, that's a roughly 7X increase in losses and investors reacted predictably with shares dropping 13% in reaction.
The reported $54 million in revenue with AN describes as "well below investors' expectations of $60 million" It's definitely 10% lower, but is that really "well below" expectations? Obviously, I'm not a Wall St. guy!
Something that I'm wrestling with is the new projection that they'll build just 25,000 vehicles this year. That's down from an earlier estimate of 50,000. Rivian says its struggling with supplier issues and raw material availability, and I believe them, but they've got 100,000 Amazon vans to build, plus 81,000 R1T and R1S preorders AND they're saying they'll be ready to build Amazon a new smaller van later this year! It just doesn't add up to me! I'm sure they're looking to point to good numbers, but when you're so constrained on what you can actually produce, how will you ever expect to catch up with demand?