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Yahoo
18 minutes ago
- Yahoo
Rivian Q2 earnings preview: EV tax credit impact, R2 SUV update on the agenda
Rivian (RIVN) will report second quarter earnings after the bell on Tuesday, as the pure-play EV-maker builds the case towards eventual profitability, while navigating the minefields of President Trump's auto sector tariffs and removal of EV tax credits. For the quarter, Rivian is expected to report revenue of $1.28 billion per Bloomberg consensus estimates, and higher than the $1.158 billion reported a year ago. The company is expected to post an adjusted EPS loss of $0.63, with an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of $493 million. Last quarter the company reported its second consecutive quarter of gross profit, hitting $206 million. Despite this, issues like trade policy and tariffs meant the maintained its 2025 full-year adjusted EBITDA loss projection in a range of $1.7 billion to $1.9 billion. Tariffs on auto parts currently stand at 25%, though USMCA compliant parts are exempt. Federal EV tax credits expiring at the end of September will likely hurt Rivian's ability to scale up sales and generate more gross profit. The company said in early July it produced 5,979 vehicles at its Normal, Illinois, factory and delivered 10,661 vehicles during the second quarter, which was slightly below 10,800 analysts' consensus. Production was limited during the quarter in preparation for model year 2026 vehicles expected to launch later this month, the company said. Rivian reaffirmed its 2025 delivery guidance range of 40,000 to 46,000 vehicles, though this is below the company's original 2025 target of deliveries between 46,000 and 51,000. The loss of the federal $7,500 federal tax credit may impact its delivery and EBITDA loss forecast, though it may pull forward sales in Q3 leading to a strong sales quarter. The development of Rivian's upcoming R2 midsize crossover will be a big focus in Rivian's report and the following analyst conference call. 'On the call, we'll be looking for further detail on Rivian's progress with its Volkswagen Joint Venture (total deal size of ~$5.8B), and on the company's progress towards autonomy, and towards commercializing its R2 line, which is slated for SOP [start of production] in 1H26,' wrote Cantor Fitzgerald analyst Andres Sheppard. Deutsche Bank's Edison Yu adds that R2 prototypes have been seen in the wild, further suggesting 2026 production is in the cards, but there are still headwinds for the business overall. 'Heading into 2H, we worry that EV policy headwinds could keep a lid on the stock. Moreover, the company is expected to experience some downtime related to R2, hurting overhead absorption,' he wrote in late July. Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram.
Yahoo
18 minutes ago
- Yahoo
Gold Steadies After Extended Gains on Weak US Job Data
(Bloomberg) -- Gold edged lower on Tuesday, following two days of gains on weak US jobs data. PATH Train Service Resumes After Fire at Jersey City Station Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole Seeking Relief From Heat and Smog, Cities Follow the Wind Bullion traded near $3,353 an ounce in London, down 0.6%. Traders are increasingly pricing in US rate cuts after Friday's weak employment report, assessing a 93% chance that the Federal Reserve will lower benchmark borrowing costs when it reconvenes next month. Lower rates typically boost the price of gold, which doesn't pay interest. Bullion has gained nearly 30% this year amid escalating trade wars and geopolitical conflicts, along with central bank buying and bets on rate cuts. Investors and analysts see more gains ahead, with Fidelity International forecasting bullion could hit $4,000 an ounce by the end of next year. The Bloomberg Dollar Spot Index was up 0.2%. Silver was flat, while palladium and platinum declined. AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Russia's Secret War and the Plot to Kill a German CEO Government Steps Up Campaign Against Business School Diversity What Happens to AI Startups When Their Founders Jump Ship for Big Tech How Podcast-Obsessed Tech Investors Made a New Media Industry ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
21 minutes ago
- Bloomberg
US Trade Gap Narrows to Tightest Since 2023 on Drop in Imports
By Updated on Save The US trade deficit narrowed in June to the tightest since September 2023 as companies scaled back on imports after a massive surge earlier in the year. The goods and services trade gap shrank 16% from the prior month to $60.2 billion, Commerce Department data showed Tuesday. The median estimate in a Bloomberg survey of economists called for a $61 billion deficit.
