Rivian cuts 2026 spending guidance after second-quarter beat
Rivian lowered its capital-spending outlook and narrowed projected losses while keeping its 2026 delivery target unchanged.
By Sofia Marchetti · World Affairs Correspondent
2 min read
Rivian 2026 spending guidance now calls for $1.7 billion to $1.8 billion in capital expenditures, down from $1.95 billion to $2.05 billion, CNBC reported after the electric-vehicle maker released second-quarter results. The company also narrowed its forecast adjusted-loss range to $1.8 billion to $2 billion, while leaving its delivery target of 65,000 to 70,000 vehicles intact.
At the midpoints of those ranges, planned capital spending fell by $250 million, to $1.75 billion from $2 billion. The projected loss midpoint improved by $50 million, to $1.9 billion from $1.95 billion.
Rivian said the lower spending plan reflected “project efficiencies and timing of spend,” according to CNBC. The company had previously lifted planned investment to support technologies including its hands-free driving system.
What did Rivian report for the second quarter?
Rivian posted an adjusted loss of 47 cents a share on revenue of $1.66 billion, CNBC reported. Those results were better than the average LSEG estimates cited by CNBC for a 63-cent adjusted loss per share and $1.51 billion in revenue.
The company reported gross profit of $179 million, compared with a $206 million gross loss a year earlier. Its automotive operation recorded a $36 million gross loss, while software and services generated $215 million in gross profit, CNBC said.
- Automotive revenue was $1.14 billion, while software-and-services revenue was $515 million.
- Automotive revenue rose 23% from a year earlier, which Rivian attributed primarily to a 14% increase in vehicle deliveries and $103 million more in regulatory-credit revenue.
- Net loss attributable to common stockholders was $837 million, or 63 cents a share, an improvement of $278 million, or 34 cents a share, from the second quarter of 2025.
Stocktwits separately reported consolidated revenue of $1.658 billion for the quarter ended June 30, up 27% from $1.303 billion a year earlier.
Rivian began delivering its midsize R2 SUV during the quarter and is increasing production at its Normal, Illinois, plant, CNBC reported. The plant has annual capacity for 160,000 R2 vehicles, according to the report.
The company also reconfirmed an estimated $5.3 billion balance of cash, cash equivalents and short-term investments, up from $4.8 billion at the end of the first quarter. CNBC reported that Rivian expects later in 2026 to receive $1 billion in non-recourse debt financing tied to its Volkswagen Group software deal and a separate $250 million equity investment connected to an Uber partnership.
This story draws on original reporting from CNBC.