Rivian (RIVN) Q3 2026 Earnings
How Did RIVN Stock React to Q3 2026 Earnings?
Did RIVN Beat Earnings? Q3 2026 Results
Yes. Rivian reported Q3 2026 earnings of $-0.48 a share on Oct 29, 2026, beating the $-0.72 consensus estimate by 33.4%. Revenue was $2.2B against a $2.0B estimate.
Rivian Automotive posted a stronger-than-expected third quarter of 2026, with the accelerating ramp of its lower-priced R2 SUV driving both record production and a meaningful earnings beat. The electric vehicle maker reported an adjusted loss of $0.48 per share, well ahead of the $0.72 consensus estimate, while revenue climbed 38.3% year-over-year to $2.15 billion, beating expectations by 8.26%. The R2 quickly became Rivian's best-selling vehicle by volume, with deliveries rising 46% and production jumping 84% year-over-year to company records; automotive gross loss narrowed to roughly $80 million from $130 million a year ago, helped in part by a per-unit cost improvement of more than $12,000 quarter-over-quarter. With analysts watching closely heading into the print, the results came in ahead of the implied move priced by options markets. Looking ahead, management raised full-year 2026 guidance, tightening the delivery range to 67,000 to 70,000 units and improving the adjusted EBITDA midpoint by $100 million, to a range of negative $1.85 billion to negative $1.75 billion.
- Record deliveries of 19,248 (up 46% YoY) and record production of 19,751 (up 84% YoY)
- R2 outsold both R1 and EDV in Q3
- $81 million in regulatory credit revenue; automotive regulatory credit revenue up $80 million YoY
- Software and services growth from Volkswagen JV development services ($354 million, 59% of segment revenue), repair and maintenance, and Autonomy+
- IEEPA tariff refund receivable benefited automotive gross profit
- Automotive COGS per unit improved by over $12,000 quarter-over-quarter on higher R2 mix and fixed cost leverage
- Approximately $120 million of incremental cost of revenues from R2 ramp
- Lower average selling price due to higher R2 and commercial van mix
- Operating cash outflow driven by reduced deferred revenues and inventory build for R2 launch
“We had great results with R2 becoming our best selling vehicle by volume in the third quarter. Customer and media feedback on R2 has been exceptional.”
Rivian CEO, on the earnings call
What Is Rivian's Outlook?
Rivian raised its full-year 2026 guidance across all metrics: - **Deliveries:** improved from 65,000–70,000 to 67,000–70,000, reflecting the Q4 production and delivery outlook. - **Adjusted EBITDA:** improved by $100 million at the midpoint to $(1.85)B–$(1.75)B, due to better-than-expected regulatory credit revenue, an IEEPA tariff refund receivable in Q3 and higher expected deliveries. - **Capital expenditures:** reduced by $300 million at the midpoint to $1.40B–$1.50B, due to timing of spend. Other expected milestones: - R2 run-rate increases over coming quarters. - A limited Point to Point rollout later in 2026, with general release to Autonomy+ subscribers in 2027. - An Uber milestone expected to unlock $250 million of equity by year-end. - A first DOE loan draw by early 2027. - Autonomy and AI Day on December 9.
RIVN YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $2.2B | $1.6B | +38.3% |
| Gross Profit | $176.0M | $31.5M | +459.2% |
| Operating Income | −$881.0M | −$798.2M | +10.4% |
| Net Income | −$913.0M | −$747.3M | +22.2% |
RIVN Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.