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Key Takeaways
- Rivian shares fell Wednesday, slipping despite exceeding the company's own delivery and production projections for the first quarter.
- The stock had lately climbed off year-to-date lows, closing Tuesday less than a dollar below Wall Street's current consensus target.
- Analysts JP Morgan warn of declining sales in the industry for this year.
Shares in Rivian (RIVN), a company that makes a variety of products, fell Wednesday after recovering from the 2025-lows reached only last month.
The electric vehicle's shares were recently down about 5%. Rivian announced earlier today production and delivery figures for the first quarter. It also reported a full-year forecast that was in line with its previous projections.
Rivian stated that its manufacturing facility in Illinois produced 14,611 vehicle and delivered 8,640 during the quarter. The numbers exceeded the expectations set forth in its last earnings call for 14,000 produced vehicles and 8,000 delivered vehicles. The company also reaffirmed their 2025 guidance, which is 46,000 to 51 000 deliveries.
Rivian had earlier warned that seasonality, a "challenging demand environment" and the effect of the wildfires in Los Angeles might weigh on first-quarter numbers.
The stock had bounced back from its March year-to date lows. Visible Alpha data show that the shares closed Tuesday at $12.28, a bit lower than Wall Street’s current consensus of $14.39.
Rivian's numbers arrived amid some concern about the path forward for the auto industry. JPMorgan analysts predicted in a report published this week that sales would be below 2024 levels by the end of this year. Analysts wrote that the strong auto sales in March were due to buyers hurrying to purchase before tariffs are implemented, possibly pulling some demand ahead.
Tesla (TSLA), on Wednesday, also reported quarterly deliveries. The numbers were far below analyst and investors expectations.
