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Countdown to Rivian Automotive (RIVN) Q3 Earnings: Wall Street Forecasts for Key Metrics
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In its upcoming report, Rivian Automotive (RIVN - Free Report) is predicted by Wall Street analysts to post quarterly loss of -$0.67 per share, reflecting an increase of 4.3% compared to the same period last year. Revenues are forecasted to be $2.02 billion, representing a year-over-year increase of 29.7%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Rivian Automotive metrics that are routinely monitored and predicted by Wall Street analysts.
Based on the collective assessment of analysts, 'Revenue- Software and services' should arrive at $628.79 million. The estimate indicates a change of +51.2% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Automotive' of $1.37 billion. The estimate indicates a year-over-year change of +20.2%.
Analysts' assessment points toward 'Delivery volume' reaching 19,248 . The estimate compares to the year-ago value of 13,201 .
The combined assessment of analysts suggests that 'Production volume' will likely reach 19,751 . Compared to the current estimate, the company reported 10,720 in the same quarter of the previous year.
Analysts predict that the 'Gross Profit- Software and services' will reach $230.37 million. The estimate is in contrast to the year-ago figure of $154.00 million.
Shares of Rivian Automotive have demonstrated returns of -23.5% over the past month compared to the Zacks S&P 500 composite's -1.2% change. With a Zacks Rank #2 (Buy), RIVN is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Countdown to Rivian Automotive (RIVN) Q3 Earnings: Wall Street Forecasts for Key Metrics
In its upcoming report, Rivian Automotive (RIVN - Free Report) is predicted by Wall Street analysts to post quarterly loss of -$0.67 per share, reflecting an increase of 4.3% compared to the same period last year. Revenues are forecasted to be $2.02 billion, representing a year-over-year increase of 29.7%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Rivian Automotive metrics that are routinely monitored and predicted by Wall Street analysts.
Based on the collective assessment of analysts, 'Revenue- Software and services' should arrive at $628.79 million. The estimate indicates a change of +51.2% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Automotive' of $1.37 billion. The estimate indicates a year-over-year change of +20.2%.
Analysts' assessment points toward 'Delivery volume' reaching 19,248 . The estimate compares to the year-ago value of 13,201 .
The combined assessment of analysts suggests that 'Production volume' will likely reach 19,751 . Compared to the current estimate, the company reported 10,720 in the same quarter of the previous year.
Analysts predict that the 'Gross Profit- Software and services' will reach $230.37 million. The estimate is in contrast to the year-ago figure of $154.00 million.
View all Key Company Metrics for Rivian Automotive here>>>Shares of Rivian Automotive have demonstrated returns of -23.5% over the past month compared to the Zacks S&P 500 composite's -1.2% change. With a Zacks Rank #2 (Buy), RIVN is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .