Rivian Automotive Inc (NASDAQ:RIVN) shares are trading lower by 3.70% at $39.85 after the company reported worse-than-expected fourth-quarter EPS and sales results.
Rivian reported quarterly losses of $2.43 per share which missed the analyst consensus estimate of a loss of $1.97. Rivian also reported quarterly sales of $54.00 million which missed the analyst consensus estimate of $60.03 million by 10%.
Rivian reported a fourth-quarter adjusted EBITDA loss of $1.108B billion, versus an adjusted EBITDA loss of $341 million in the same quarter last year. The company is guiding for 25,000 vehicles produced in 2022.
See Also: Rivian Q4 Results: Earnings And Sales Miss, 909 Vehicle Deliveries And More
Rivian designs, develops and manufactures electric vehicles and accessories.
Rivian has a 52-week high of $179.47 and a 52-week low of $38.00.
