The company also cut its annual capital expenditure forecast by $550 million to $1.2 billion, as it moved the start of production of its R2 midsize SUV to...
- Rivian Automotive on Tuesday reported first-quarter revenue that beat Wall Street expectations and reiterated its production forecast of 57,000 units this year, due to sustained demand for its electric vehicles.
The company expects to make 57,000 units this year, while analysts expect Rivian to make 62,277 vehicles in 2024, according to nine analysts polled by Visible Alpha.In February, Rivian introduced a lower-cost variant of the R1T pickup truck and R1S SUV to drum up demand that has slowed due to high interest rates and customers gravitating to less-expensive gasoline-hybrid vehicles.
Revenue for the January-to-March quarter stood at $1.2 billion, compared with analysts' average estimate of $1.16 billion, according to LSEG data. Want a great growth stock to buy and hold for decades? You may want to consider this ridiculously undervalued growth stock. The post 1 Ridiculously Undervalued Growth Stock Down 65% to Buy Hand Over Fist appeared first on The Motley Fool Canada.These two dividend stocks are due for a major comeback, which could come this year. All while receiving a decent dividend! The post 2 Dividend Stocks to Double Up on Right Now appeared first on The Motley Fool Canada.
Capital Expenditure Midsize SUV Reported Quarter
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