COGS improvement and production guidance raise is good, but they are still burning lots of cash. It's headed in the right direction though. Much better earnings than Lucid.
Sawyer Merritt: NEWS: @Rivian has reported Q2 earnings and raised their 2023 production guidance by 2k to 52,000 vehicles.
Highlights:
- EPS: -$1.08 vs -$1.41 est
- Revenue: $1.12B vs $1.01B est
- $35,000 gross profit per vehicle delivered improvement
- Gross profit: -$412M.
- Operating…
via Twitter @Sawyer Merritt