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Will Rivian prove ability to grow production, cut losses in 2023?

Rivian shares will be in focus after the bell as the electric adventure vehicle maker will report its Q4 financial results. The company’s new annual production target and its projected loss for 2023 are expected to be of particular interest for investors

From a deliveries standpoint, the company already reported that for the quarter it produced 10,020 vehicles and delivered 8,054. For the year, Rivian produced 24,337, narrowly missing its 2022 forecast for 25,000 units, which was a positive development for the company given its early production ramp difficulties and supply chain hiccups. It delivered 20,332 units for the year.

Investors are awaiting to get an obvious picture on what production and delivery factors will look like into FY23 as the company capitalizes on its existing demand with the 2023 delivery numbers of around 60,000 unit deliveries looking hittable.

For Q4, analysts are expecting the following top and bottom line performance:

Revenue: $717.26M EST

Adjusted EPS: ($1.91) loss EST

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