Rivian Automotive reports second-quarter financial results; narrows earnings guidance and reduces 2026 spending plans amid improved vehicle deliveries.

Rivian Automotive reported a second-quarter net loss of $837 million, or 63 cents a share, marking a $278 million improvement from the same period last year. The company narrowed its earnings guidance for 2026, projecting adjusted losses between $1.8 billion and $2 billion, down from $1.8 billion to $2.1 billion.¹²³⁴⁵

Rivian also announced a $250 million reduction in capital expenditures, now estimated at $1.7 billion to $1.8 billion, attributed to project efficiencies and timing of spend. This reduction allows for continued investment in new technologies, including a hands-free driving system.

In a positive turn, Rivian raised its full-year 2026 delivery outlook from 62,000-67,000 vehicles to 65,000-70,000 vehicles, following the delivery of 12,194 vehicles in the second quarter, exceeding its guidance of 9,000 to 11,000 vehicles. The company ended the quarter with an estimated $5.3 billion in cash and short-term investments, up from $4.8 billion at the end of the first quarter.⁶

Analysts have responded positively, with Piper Sandler upgrading Rivian from 'Neutral' to 'Overweight' and raising its price target to $20 from $18. Rivian's stock has seen significant gains over the past year, driven by improved vehicle deliveries and confidence in its long-term growth strategy.