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Yahoo
44 minutes ago
- Yahoo
Rivian, Lucid to Benefit From Trump Tax Bill, BNP Paribas Says
(Bloomberg) -- Shares of Rivian Automotive Inc. and Lucid Group Inc. gained as much as 4.6% and 8.8%, respectively, on Thursday as BNP Paribas sees the EV makers benefiting from President Donald Trump's tax and spending bill ending electric vehicle tax credits. NYC Commutes Resume After Midtown Bus Terminal Crash Chaos Struggling Downtowns Are Looking to Lure New Crowds Massachusetts to Follow NYC in Making Landlords Pay Broker Fees What Gothenburg Got Out of Congestion Pricing Foreign Buyers Swoop on Cape Town Homes, Pricing Out Locals The bill, which was passed by the US Senate and is expected to be passed by the House of Representatives on Thursday, would end the $7,500 electric vehicle consumer tax credit after Sept. 30. Getting rid of the tax credit is projected to lead to a drop in demand for electric vehicles later in the year, but not all automakers are expected to be impacted equally. 'Similarly to RIVN, we do believe LCID stands to benefit from reduced EV competition as OEMs deemphasize US EV ambitions,' BNP Paribas analyst James Picariello wrote in a note to clients Thursday. Automakers like General Motors Co., Ford Motor Co., Hyundai Motor Co. and its affiliated Kia Corp. have ramped up EV production in recent years. But without government incentives, and with consumer demand softening, BNP expects those efforts to slow, Picariello wrote. But for companies that solely focus on electric vehicles like Rivian, Lucid and Tesla Inc., this could lead to more market share available. The bill offers a potential boon for the electric vehicle stocks, which have broadly declined this year amid macroeconomic pressures including tariff uncertainty. Rivian may also benefit from continued backlash against Elon Musk and Tesla for his previous involvement in the Trump administration, Picariello wrote. Tesla delivered 384,122 vehicles in the second quarter, a 13% year-over-year decline, the company reported on Wednesday. Rivian and Lucid both fell short of expectations in the second quarter. Rivian delivered 10,661 vehicles, 2.3% below the average analyst estimate. Lucid delivered 3,309 vehicles in the second quarter, 4% below the average analyst estimate. BNP expects third-quarter deliveries to rise as consumers rush to buy before the tax credit ends. Rivian is likely to benefit more than Lucid, given Lucid's slower production ramp and the fact that its Gravity SUV isn't expected to be available until the end of 2025, and the crossover utility vehicle until 2027. Picariello has an outperform rating on Rivian and an underperform rating on Lucid. SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too How to Steal a House America's Top Consumer-Sentiment Economist Is Worried China's Homegrown Jewelry Superstar Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate ©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
an hour ago
- Bloomberg
Rivian, Lucid to Benefit From Trump Tax Bill, BNP Paribas Says
Shares of Rivian Automotive Inc. and Lucid Group Inc. gained as much as 4.6% and 8.8%, respectively, on Thursday as BNP Paribas sees the EV makers benefiting from President Donald Trump's tax and spending bill ending electric vehicle tax credits. The bill, which was passed by the US Senate and is expected to be passed by the House of Representatives on Thursday, would end the $7,500 electric vehicle consumer tax credit after Sept. 30. Getting rid of the tax credit is projected to lead to a drop in demand for electric vehicles later in the year, but not all automakers are expected to be impacted equally.
Yahoo
11 hours ago
- Yahoo
The Top 5 Analyst Questions From Rivian's Q1 Earnings Call
Rivian's first quarter saw results that exceeded Wall Street expectations on both revenue and profitability measures, yet the market response was negative as investors focused on declining vehicle sales volumes and a more cautious demand outlook. Management attributed the quarter's outperformance to continued cost efficiency initiatives and operational improvements, with CEO RJ Scaringe highlighting positive gross profit for a second consecutive quarter and advancements in the company's autonomy platform. CFO Claire McDonough acknowledged that the company's proactive inventory management and lean manufacturing efforts helped offset material cost pressures, but noted the impact of a challenging consumer environment and policy-driven headwinds. Is now the time to buy RIVN? Find out in our full research report (it's free). Revenue: $1.24 billion vs analyst estimates of $997.3 million (3% year-on-year growth, 24.3% beat) Adjusted EPS: -$0.41 vs analyst estimates of -$0.73 (43.8% beat) Adjusted EBITDA: -$329 million vs analyst estimates of -$541.8 million (-26.5% margin, 39.3% beat) EBITDA guidance for the full year is -$1.8 billion at the midpoint, above analyst estimates of -$1.88 billion Operating Margin: -52.8%, up from -123% in the same quarter last year Sales Volumes fell 36.4% year on year (71% in the same quarter last year) Market Capitalization: $15.44 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Dan Levy (Barclays) asked about Rivian's battery sourcing strategy and LFP cell tariffs; CEO RJ Scaringe and CFO Claire McDonough detailed plans for U.S.-based production and ongoing flexibility in cell sourcing to mitigate long-term trade risks. Adam Jonas (Morgan Stanley) pressed on Rivian's ability to compete in autonomy with a smaller fleet; Scaringe responded that high-quality sensor data and a vertically integrated approach help offset scale disadvantages, emphasizing data 'flywheel' effects. Mark Delaney (Goldman Sachs) probed the rationale behind Rivian's reduced delivery outlook; Scaringe cited increased consumer price sensitivity and a limited addressable market for premium-priced vehicles, with R2 positioned to address this gap. Edison Yu (Deutsche Bank) inquired about the potential impact of tariffs on R2 pricing and launch timing; Scaringe confirmed no current plans to alter R2's $45,000 starting price, citing ongoing supply chain actions. Joseph Spak (UBS) questioned depreciation trends and inventory strategies; McDonough explained the impact of production timing and inventory absorption, stating that depreciation will rise with R2 production ramp. In the coming quarters, the StockStory team will be watching (1) the pace and execution of R2 validation builds and facility expansion, (2) the company's ability to manage rising tariff and material costs while maintaining gross margin progress, and (3) continued rollout and adoption of advanced autonomy features. Updates on battery supply localization and the outcome of the planned manufacturing shutdown will also be key for tracking operational resilience. Rivian currently trades at $13.50, in line with $13.49 just before the earnings. In the wake of this quarter, is it a buy or sell? Find out in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. 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
