Rivian shares rose as much as 5% on Friday after the electric-vehicle maker reported stronger-than-expected third-quarter results and raised its 2026 delivery target. The company also narrowed its forecast for the full-year loss, though it remains unprofitable and U.S. EV sales are still well below their previous peak.
Revenue tops forecasts as adjusted loss narrows
Rivian posted an adjusted loss of $0.48 per share for the third quarter, compared with analysts’ expectation of a $0.62 loss. Revenue reached $2.16 billion, more than 8% above market expectations. Despite the better-than-forecast performance, the company remains in the red.
Rivian now expects to deliver at least 67,000 vehicles in 2026, up from its previous forecast of at least 65,000. It also cut its projected full-year loss by about $100 million, to a range of $1.75 billion to $1.85 billion.
Higher R2 production plans, but shares give back gains
The company also raised its production plan for the lower-priced R2 SUV. Production and deliveries of the model are important to Rivian’s efforts to expand sales and meet its higher annual target. The information provided did not include a specific production figure or a revised launch timeline.
Rivian shares reached an intraday high of $12.27 after the results, then surrendered most of their early gains. By the afternoon, they were up just under 3%. Even with Friday’s advance, the stock remained down about 39% for the year and had yet to recover its earlier losses. The session reflected support from the results and improved guidance, alongside continued attention to whether the operating improvement can last.
U.S. EV demand remains a constraint
Rivian’s quarterly figures beat expectations, but U.S. electric-vehicle sales across automakers remain well below previous highs. That demand backdrop matters as the company steps up its delivery target: higher production plans need to translate into actual sales, and growth depends on more than manufacturing capacity alone.
Rivian’s results came at the end of a month in which Tesla remained a central focus of market discussion, including talk of a potential SpaceX merger. No details on the status of those discussions were provided. For Rivian, the confirmed changes are stronger-than-expected quarterly revenue and adjusted earnings, a higher 2026 delivery target and a narrower loss forecast. The company is still unprofitable, while EV sales across the U.S. remain below their previous peak.