Rivian Q3 production 13,157, deliveries 10,018; cuts FY2024 production outlook to 47K-49K

Rivian Automotive, Inc. / DE

Produced 13,157 vehicles and delivered 10,018 in Q3 2024.
Production disruption due to shortage of a shared component on R1 and RCV platforms; shortage worsened in recent weeks.
Revised FY2024 production guidance to 47,000-49,000 vehicles (from prior 57,000).
Reaffirmed FY2024 delivery outlook of low single-digit growth vs 2023, targeting 50,500-52,000 vehicles.
Q3 2024 financial results to be released after market close on November 7, 2024.

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