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Dear RIVN Stock Fans, Mark Your Calendars for May 9


  • Rivian is riding a two-week win streak, but the real focus comes next week. That’s as RIVN stock is due to report earnings on Tuesday.
  • Despite the recent rally, shares remain lower on the year by 26%.
  • Analysts expect a loss in the current quarter, but investors will be looking at production, guidance and margins.
RIVN stock - Dear RIVN Stock Fans, Mark Your Calendars for May 9

Source: The Bold Bureau / Shutterstock.com

Shares of Rivian (NASDAQ:RIVN) are enjoying a nice rally on Friday, with RIVN stock up about 5% on the day and pushing session highs. The move is helping the stock end on a high note, up almost 7% so far for the last week.

EV stocks have not performed very well lately. Just last week, RIVN stock notched an all-time low as sentiment continues to sour. Even the leader has come under pressure, as Tesla (NASDAQ:TSLA) is down 22% from its recent high.

However, Rivian shares are up nicely from the low. Shares have climbed 16% as the stock looks to notch two weekly gains in a row. Investors can’t rest on the gains for too long, though. That’s as the EV firm is set to report earnings on Tuesday, May 9.

For what it’s worth, Fisker (NYSE:FSR) — which is also up about 5% on the day — will report that day as well. So will Nikola (NASDAQ:NKLA), which is up 6% on Friday.

Fisker and Nikola will report in the morning before the opening bell, while Rivian will report after the close.

What to Expect From RIVN Stock on Earnings

Investors who are long RIVN stock will anxiously await its results. So far, it hasn’t been a great earnings season for automakers. It hasn’t been a disaster, but the reactions haven’t exactly been bullish for Tesla, Ford (NYSE:F) and others.

The reactions from Fisker and Nikola will likely impact Rivian — bullish or bearish — particularly if they move in tandem with one another.

Regarding Rivian specifically, analysts expect the firm to lose $1.51 a share on $686.8 million in revenue.

The automaker delivered 7,946 vehicles in Q1 while producing 9,395 vehicles. Investors will want to hear that demand remains strong, that management is confident in its production potential and that the company continues to have a strong pipeline of eventual sales waiting on delivery.

While investors already know a loss is in the cards, the hope is that management can be vigilant about its bottom-line expenses. That’s particularly true at a time of economic uncertainty. In other words, a focus on margins.

“The key question is whether Rivian’s 2023 production guidance of 50,000 units is achievable,” according to Garrett Nelson, an analyst with CFRA.

At this year’s low, RIVN stock was down 36% for 2023. However, the recent gains have cut those losses to “just” 26.4%. With next week’s earnings report, bulls will look for those losses to shrink even more. Although, we’ll have to wait to see if that will be the case.

On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.

Article printed from InvestorPlace Media, https://investorplace.com/2023/05/dear-rivn-stock-fans-mark-your-calendars-for-may-9-2/.

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