Analyst Consensus ?
ConsensusHold29 ratings
Bullish1448.3%
Neutral1034.5%
Bearish517.2%
Rivian Automotive, Inc. · RIVN · FY2026 Q3 · Calendar Q4 2026
Rivian’s R2 scale-up lifted Q3 output and software momentum
Rivian’s Q3 update strengthens the operating case around R2 volume, software growth, and liquidity, while the investment debate remains tied to unit economics, supply-chain execution, and reliance on non-core profitability support.
Reported After market closeNASDAQConsumer Cyclical
$16.53B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$-0.48
Consensus $-0.64
EPS surprise
+25.4%
Reported versus consensus
Reported revenue
$2.15B
Consensus $2.00B
Revenue surprise
+7.7%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+6.2%
Event window
SPY move
-1.8%
Same window
Abnormal move
+8.0%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
RIVNSPY benchmark
Ask FN2 about RIVN FY2026 Q3
Transcript, numbers and history already loaded
Why did RIVN rise 6.2% after beating EPS estimates in FY2026 Q3?What changed in RIVN's guidance and outlook in FY2026 Q3?Give me the bull and bear case for RIVN after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
R2 became Rivian’s best-selling model after record Q3 production and deliveries. Software and Services revenue increased 45% year over year, 2026 capex guidance was reduced by $300 million, and management raised the full-year delivery outlook to 67–70 thousand units.
Guidance delta
Management raised full-year delivery guidance to 67–70 thousand units and reduced 2026 capex guidance by $300 million. It also projected automotive gross margin to turn positive by year-end as R2 scales.
Key takeaways
- R2 production reached a quarterly record and the model became Rivian’s top seller.
- Software and Services growth was driven by Autonomy+ and the Volkswagen joint venture.
- Management highlighted a limited Point to Point early-access rollout later in 2026 and broader availability in 2027.
- Liquidity was described as roughly $5.5 billion, with total available capital expected around $13 billion.
Management priorities
- Scale R2 production and expand the model lineup with additional trims and lower-priced variants.
- Advance Autonomy+ and Point to Point capabilities, including the planned early-access program.
- Continue construction and ramp-up of the Georgia manufacturing facility.
- Grow software and services through Autonomy+, the Volkswagen joint venture, and commercial fleet demand.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$12.16Current
$12Low
$30.59Average
$141High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 31, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 31, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 31, 2026 |
| Needham | Buy | Buy | Maintain | Jul 31, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | Jul 31, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Jul 28, 2026 |
| Piper Sandler | Overweight | Neutral | Upgrade | Jul 27, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 9, 2026 |
| BNP Paribas | Outperform | Outperform | Maintain | Jul 8, 2026 |
| Jefferies | Hold | Hold | Maintain | Jul 7, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | May 11, 2026 |
| Benchmark | Buy | Buy | Maintain | May 1, 2026 |
| Tigress Financial | Buy | Buy | Maintain | Apr 10, 2026 |
| Canaccord Genuity | Buy | Buy | Maintain | Apr 6, 2026 |
| Stifel | Buy | Buy | Maintain | Feb 17, 2026 |
| Wedbush | Outperform | Outperform | Maintain | Feb 13, 2026 |
| Deutsche Bank | Buy | Hold | Upgrade | Feb 13, 2026 |
| Wolfe Research | Underperform | Peer Perform | Downgrade | Jan 12, 2026 |
| Baird | Outperform | Neutral | Upgrade | Dec 18, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Dec 12, 2025 |
| Mizuho | Underperform | Neutral | Downgrade | Oct 20, 2025 |
| JP Morgan | Underweight | Underweight | Maintain | Oct 20, 2025 |
| Guggenheim | Neutral | Buy | Downgrade | Jul 14, 2025 |
| B of A Securities | Underperform | Neutral | Downgrade | Feb 24, 2025 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jan 22, 2025 |
| Truist Securities | Hold | Hold | Maintain | Jan 16, 2025 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Feb 22, 2024 |
| Exane BNP Paribas | Outperform | Neutral | Upgrade | Aug 11, 2023 |
| Redburn Partners | Buy | Buy | Maintain | Jan 11, 2022 |
Named analyst price targets
Upside is calculated against the persisted current price $12.16. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Stifel Nicolaus | Stephen Gengaro | $22 | $16.96 | +80.9% | Aug 24, 2026 |
| RBC Capital | Tom Narayan | $16 | $15.34 | +31.6% | Jul 31, 2026 |
| Morgan Stanley | Analyst unavailable | $14 | $16.83 | +15.1% | Jul 31, 2026 |
| Wells Fargo | Analyst unavailable | $16 | $16.83 | +31.6% | Jul 31, 2026 |
| Piper Sandler | Alexander Potter | $20 | $15.84 | +64.5% | Jul 27, 2026 |
| UBS | Joseph Spak | $17 | $17.84 | +39.8% | Jul 9, 2026 |
| D.A. Davidson | Michael Shlisky | $15 | $14.06 | +23.4% | May 11, 2026 |
| Mizuho Securities | Analyst unavailable | $13 | $15.4 | +6.9% | May 1, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $19 | $15.53 | +56.3% | May 1, 2026 |
| Jefferies | Owen Paterson | $15 | $15.1 | +23.4% | Mar 3, 2026 |
| Stifel Nicolaus | Analyst unavailable | $20 | $17.05 | +64.5% | Feb 17, 2026 |
| D.A. Davidson | Michael Shlisky | $14 | $17.38 | +15.1% | Feb 17, 2026 |
| Cantor Fitzgerald | Andres Sheppard | $18 | $16.86 | +48.0% | Feb 13, 2026 |
| Mizuho Securities | Analyst unavailable | $11 | $14 | -9.5% | Feb 13, 2026 |
| Piper Sandler | Analyst unavailable | $18 | $14 | +48.0% | Feb 13, 2026 |
| Deutsche Bank | Analyst unavailable | $23 | $14 | +89.1% | Feb 13, 2026 |
| UBS | Joseph Spak | $16 | $14 | +31.6% | Feb 13, 2026 |
| UBS | Analyst unavailable | $15 | $18.85 | +23.4% | Jan 14, 2026 |
| Wolfe Research | Analyst unavailable | $16 | $19.19 | +31.6% | Jan 12, 2026 |
| UBS | Analyst unavailable | $20 | $20.06 | +64.5% | Jan 8, 2026 |
| Goldman Sachs | Analyst unavailable | $18 | $19.41 | +48.0% | Jan 5, 2026 |
| Robert W. Baird | Analyst unavailable | $25 | $17.63 | +105.6% | Dec 18, 2025 |
| Goldman Sachs | Analyst unavailable | $16 | $16.42 | +31.6% | Dec 12, 2025 |
| Needham | Analyst unavailable | $23 | $16.42 | +89.1% | Dec 12, 2025 |
| Morgan Stanley | Andrew Percoco | $12 | $17.95 | -1.3% | Dec 8, 2025 |
| Tigress Financial | Ivan Feinseth | $25 | $15.34 | +105.6% | Nov 14, 2025 |
| UBS | Analyst unavailable | $13 | $13.6 | +6.9% | Oct 6, 2025 |
| Goldman Sachs | Analyst unavailable | $15 | $15.59 | +23.4% | Sep 29, 2025 |
| Piper Sandler | Alexander Potter | $15 | $15.91 | +23.4% | May 22, 2025 |
| RBC Capital | Tom Narayan | $12 | $15.73 | -1.3% | Jan 3, 2025 |
| Truist Financial | Jordan Levy | $12 | $15.73 | -1.3% | Jan 3, 2025 |
| Stifel Nicolaus | Stephen Gengaro | $16 | $10.48 | +31.6% | Nov 11, 2024 |
| Barclays | Dan Levy | $13 | $10.39 | +6.9% | Oct 30, 2024 |
| Jefferies | Philippe Houchois | $17 | $11.71 | +39.8% | Sep 23, 2024 |
| Deutsche Bank | Edison Yu | $14 | $13.08 | +15.1% | Sep 9, 2024 |
| Wells Fargo | Colin Langan | $15 | $14.8 | +23.4% | Aug 7, 2024 |
| Truist Financial | Jordan Levy | $16 | $14.62 | +31.6% | Aug 2, 2024 |
| Wells Fargo | Colin Langan | $18 | $17.19 | +48.0% | Jul 18, 2024 |
| Morgan Stanley | Adam Jonas | $17 | $17.94 | +39.8% | Jul 17, 2024 |
| Canaccord Genuity | George Gianarikas | $30 | $13.42 | +146.7% | Jun 28, 2024 |
| D.A. Davidson | Michael Shilsky | $13 | $13.42 | +6.9% | Jun 28, 2024 |
| Needham | Chris Pierce | $20 | $14.47 | +64.5% | Jun 28, 2024 |
| Stifel Nicolaus | Stephen Gengaro | $18 | $14.46 | +48.0% | Jun 26, 2024 |
| Truist Financial | Jordan Levy | $13 | $11.96 | +6.9% | Jun 26, 2024 |
| Cantor Fitzgerald | Andres Sheppard | $20 | $11.96 | +64.5% | Jun 26, 2024 |
| Guggenheim | Ronald Jewsikow | $18 | $11.01 | +48.0% | Jun 25, 2024 |
| Morgan Stanley | Adam Jonas | $13 | $10.97 | +6.9% | May 31, 2024 |
| Barclays | Dan Levy | $10 | $8.83 | -17.8% | Apr 19, 2024 |
| Needham | Chris Pierce | $13 | $8.74 | +6.9% | Apr 18, 2024 |
| UBS | Joseph Spak | $9 | $8.4 | -26.0% | Apr 15, 2024 |
| Robert W. Baird | Ben Kallo | $23 | $10.52 | +89.1% | Apr 2, 2024 |
| Cantor Fitzgerald | Andres Sheppard | $23 | $10.63 | +89.1% | Apr 2, 2024 |
| Mizuho Securities | Vijay Rakesh | $12 | $10.65 | -1.3% | Mar 25, 2024 |
| Piper Sandler | Alexander Potter | $21 | $10.69 | +72.7% | Mar 14, 2024 |
| Truist Financial | Jordan Levy | $11 | $12.84 | -9.5% | Mar 8, 2024 |
| Barclays | Dan Levy | $16 | $15.89 | +31.6% | Feb 20, 2024 |
| Needham | Chris Pierce | $25 | $16.43 | +105.6% | Nov 27, 2023 |
| Goldman Sachs | Mark Delaney | $25 | $16.61 | +105.6% | Nov 8, 2023 |
| Evercore ISI | Chris McNally | $35 | $24.28 | +187.8% | Oct 2, 2023 |
| Needham | Chris Pierce | $31 | $19.86 | +154.9% | Aug 24, 2023 |
| BNP Paribas | James Picariello | $30 | $21.91 | +146.7% | Aug 11, 2023 |
| Cantor Fitzgerald | Andres Sheppard | $29 | $22.75 | +138.5% | Aug 9, 2023 |
| Canaccord Genuity | George Gianarikas | $40 | $19.99 | +228.9% | Jul 5, 2023 |
| Cantor Fitzgerald | Andres Sheppard | $27 | $14.49 | +122.0% | May 10, 2023 |
| RBC Capital | Tom Narayan | $14 | $12.92 | +15.1% | Apr 19, 2023 |
| Morgan Stanley | Names Top | $63 | $13.38 | +418.1% | Apr 14, 2023 |
| Mizuho Securities | Vijay Rakesh | $35 | $14.47 | +187.8% | Mar 9, 2023 |
| Needham | Chris Pierce | $26 | $15.76 | +113.8% | Mar 1, 2023 |
| Wedbush | Daniel Ives | $25 | $17.45 | +105.6% | Mar 1, 2023 |
| Barclays | Dan Levy | $28 | $20.22 | +130.3% | Feb 18, 2023 |
| Goldman Sachs | Mark Delaney | $19 | $16.45 | +56.3% | Jan 10, 2023 |
| Truist Financial | Analyst unavailable | $50 | $17.76 | +311.2% | Jan 4, 2023 |
| Morgan Stanley | Adam Jonas | $55 | $25.58 | +352.3% | Dec 12, 2022 |
| Evercore ISI | Analyst unavailable | $35 | $28.85 | +187.8% | Nov 30, 2022 |
| Wedbush | Daniel Ives | $37 | $32.96 | +204.3% | Nov 10, 2022 |
| Mizuho Securities | Analyst unavailable | $58 | $32.96 | +377.0% | Nov 10, 2022 |
| RBC Capital | Analyst unavailable | $50 | $32.96 | +311.2% | Nov 10, 2022 |
| Mizuho Securities | Vijay Rakesh | $65 | $36.7 | +434.5% | Oct 6, 2022 |
| RBC Capital | Joseph Spak Spak | $62 | $32.31 | +409.9% | Sep 29, 2022 |
| Wedbush | Daniel Ives | $45 | $38.75 | +270.1% | Sep 12, 2022 |
| Wedbush | Daniel Ives | $40 | $31.3 | +228.9% | Jul 8, 2022 |
| Mizuho Securities | Vijay Rakesh | $70 | $25.7 | +475.7% | Jul 4, 2022 |
| D.A. Davidson | Michael Shlisky | $24 | $26.24 | +97.4% | Jun 18, 2022 |
| Morgan Stanley | Adam Jonas | $60 | $27.49 | +393.4% | May 17, 2022 |
| Deutsche Bank | Emmanuel Rosner | $69 | $26.7 | +467.4% | May 15, 2022 |
| Wells Fargo | Colin Langan | $24 | $20.6 | +97.4% | May 12, 2022 |
| RBC Capital | Joseph Spak | $77 | $24.21 | +533.2% | May 12, 2022 |
| Deutsche Bank | Emmanuel Rosner | $90 | $31.52 | +640.1% | Apr 26, 2022 |
| Barclays | Analyst unavailable | $38 | $33.9 | +212.5% | Apr 26, 2022 |
| Piper Sandler | Alexander Potter | $112 | $36.23 | +821.1% | Apr 21, 2022 |
| RBC Capital | Joseph Spak | $100 | $38.8 | +722.4% | Apr 10, 2022 |
| Mizuho Securities | Vijay Rakesh | $95 | $46.44 | +681.3% | Apr 2, 2022 |
| Wells Fargo | Colin Langan | $40 | $38.05 | +228.9% | Mar 11, 2022 |
| Deutsche Bank | Emmanuel Rosner | $91 | $38.05 | +648.4% | Mar 11, 2022 |
| J.P. Morgan | Ryan Brinkman | $68 | $38.05 | +459.2% | Mar 11, 2022 |
| Barclays | Brian Johnson | $47 | $42.21 | +286.5% | Mar 8, 2022 |
| Robert W. Baird | George Gianarikas | $100 | $47.39 | +722.4% | Mar 4, 2022 |
| RBC Capital | Joseph Spak | $116 | $53.56 | +853.9% | Mar 2, 2022 |
| Wells Fargo | Colin Langan | $70 | $61.91 | +475.7% | Mar 1, 2022 |
| Redburn Partners | Charles Coldicott | $141 | $79.95 | +1059.5% | Jan 16, 2022 |
| Tigress Financial | Ivan Feinseth | $147 | $114.66 | +1108.9% | Dec 10, 2021 |
Track every rating change on RIVN the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationRivian Automotive, Inc. specializes in the design, engineering, and manufacturing of electric vehicles and related accessories. The company produces five-passenger electric pickup trucks and sport utility vehicles for individual consumers. Furthermore, Rivian develops a commercial electric delivery van platform, notably in partnership with Amazon.com. This firm markets its products directly to customers across both the consumer and commercial sectors. Founded in 2009, Rivian Automotive, Inc. maintains its primary operations in San Jose, California.
Consumer Cyclical peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| MGA Magna International Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -1.5% | Magna expands margins as lower China output cuts sales outlook |
| SBUX Starbucks Corporation | FY2026 Q4 · Calendar Q4 2026 | +11.3% | -1.7% | Starbucks posts resilient comps and sets FY27 margin targets |
| AMZN Amazon.com, Inc. | FY2026 Q3 · Calendar Q4 2026 | -4.1% | -1.6% | Amazon pairs accelerating AWS AI demand with sustained capital intensity |
Latest beats and misses
Who reports nextBeat on EPS
- WYFY2026 Q3 · October 29, 2026+128.3% EPS+3.0% move
- LNTFY2026 Q3 · October 29, 2026+16.0% EPS+1.4% move
- MTZFY2026 Q3 · October 29, 2026+0.3% EPS+0.8% move
- ERIEFY2026 Q3 · October 29, 2026+2.1% EPS+5.3% move
- IRFY2026 Q3 · October 29, 2026+18.5% EPS+0.2% move
- VLTOFY2026 Q3 · October 29, 2026+8.3% EPS+9.8% move
Missed on EPS
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
- AMZNFY2026 Q3 · October 29, 2026-4.1% EPS-1.6% move
- SYKFY2026 Q3 · October 29, 2026-0.8% EPS-5.0% move
- DLR-PJFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLRFY2026 Q3 · October 29, 2026-8.4% EPS-3.0% move
Get the RIVN recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-10-30T14:16:06.464185+00:00
- FN2 earnings calendar · 2026-10-30T01:23:13.979536+00:00
- Polygon adjusted daily market bars · 2026-10-30T21:50:42.984735+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-30T21:50:42.982115+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-30. For educational purposes only; not investment advice.