Rivian (RIVN) earnings Q4 2021

Rivian Automotive expects to produce 25,000 vehicles this year, as the electric vehicle start-up battles through supply chain constraints and internal production snags.

The increase in production will come alongside an operating loss of $4.75 billion and capital expenditures of $2.6 billion this year, the company forecasted Thursday when reporting its fourth-quarter results.

Shares of the automaker were down by more than 13% during after-hours trading. The decline follows the stock hitting a new 52-week low Thursday before closing at $41.16 a share, down 6.4% on the day.

Here’s how Rivian performed, compared with analysts’ estimates as compiled by Refinitiv:

• Adjusted loss per share: $2.43 vs. $1.97 a share expected
• Revenue: $54 million vs. $60 million expected

For 2022, Refintiv consensus estimates put Rivian’s full-year adjusted loss per share at $4.97 and revenue at about $3.16 billion. Rivian did not disclose a revenue forecast.

Shares of Rivian, which went public in November, are down about 60% this year, after the company missed production targets for 2021.

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