With EV tax credit expiring, focus turns to upcoming R2 midsize SUV

Rivian (RIVN) will report third quarter earnings after the bell on Tuesday as the pure-play EV maker builds the case for eventual profitability while navigating the loss of federal electric vehicle tax credits.

For the quarter, Rivian is expected to report revenue of $1.49 billion, per Bloomberg consensus estimates, which is little changed from a year ago. The company is expected to post an adjusted loss per share of $0.71, with an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of $570.7 million.

Last quarter, the company did not report a gross profit after posting two consecutive quarters of gross profit, missing a key milestone.

The company also widened its full-year loss projection, as trade wars and the loss of EV tax credits complicated Rivian’s path toward profitability. Rivian increased its adjusted 2025 full-year EBITDA (earnings before interest, taxes, depreciation, and amortization) before interest loss to a range of $2 billion to $2.25 billion from $1.7 billion to $1.9 billion previously

Earlier this month, Rivian said it produced 10,720 vehicles and delivered 13,201 vehicles in Q3, in line with what was expected to be a strong quarter. However, Rivian narrowed its 2025 delivery guidance range to 41,500 to 43,500 vehicles, from a prior range of 40,000 to 46,000 vehicles. Rivian’s original 2025 delivery target was between 46,000 and 51,000.

Key to boosting Rivian’s sales is the development of the company’s upcoming R2 midsize crossover, which the company said last quarter was on track for a 2026 release.

It’s been an up-and-down ride for investors, with Rivian stock down 4% year to date.

Pras Subramanian is Lead Auto Reporter for Yahoo Finance. You can follow him on X and on Instagram.

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