Rivian Automotive (RIVN) lowered its full-year 2025 delivery guidance amid tariff-related uncertainty and policy headwinds while continuing efforts to reduce operational costs, Wedbush said Wednesday in a research note.
The company now expects to deliver between 40,000 and 46,000 vehicles in 2025, down from its prior range of 46,000 to 51,000.
Wedbush said that the revised outlook reflects evolving trade regulations and a planned one-month shutdown of its consumer and commercial manufacturing lines in Normal, Illinois, in the second half of 2025 to prepare for the launch of its R2 vehicle in the first half of 2026.
The company reported a Q1 loss of $0.48 per diluted share, against the analysts' expectations for a $0.99 per share loss. Revenue rose to $1.24 billion, beating the Street's estimate of $1.02 billion, driven by an updated product mix, higher average selling prices, and increased software and services revenue.
Wedbush said that Rivian achieved its second consecutive quarter of gross profit positivity, a milestone that positions it to receive a $1 billion investment from Volkswagen Group on June 30 as part of their joint venture agreement signed in 2024.
The firm maintained its outperform rating on the stock but cut its price target to $18 from $20, citing growing tariff-related challenges facing the US. auto industry, including Rivian.
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