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Beating analysts' forecasts with aplomb, Rivian Automotive (NASDAQ:RIVN) stated on Friday that it produced 12,627 vehicles and delivered 14,183 vehicles during the fourth quarter. Following the release, we've seen healthy activity in the stock with it up more than 23% at the time of writing. It's important to note the stock is up more than 38.3% in the past month and almost 24% YTD.
The EV producer claimed to have built 49,476 vehicles and delivered 51,579 in 2024, in line with its projection of 47,000 to 49,000 vehicles produced and 50,500 to 52,000 vehicles delivered. Rivian pointed out that a prior production bottleneck involving a shared component used in its R1 and RCV platforms has been resolved, freeing output restrictions. Investors will be looking out for further insights on profitability, demand trends, and the business's 2025 projection when the Q4 earnings report of the corporation is set for public publication on February 20.
This article first appeared on GuruFocus.