Rivian reports its Q3 2026 financial results tomorrow, October 29, after market close, with the audio webcast starting at 5:00 p.m. ET, and this is the first earnings call covering a full quarter of R2 deliveries.
We already know the volume side. Rivian delivered a record 19,248 vehicles in Q3 and built 19,751 in Normal, which kept full-year guidance at 65,000 to 70,000 deliveries.
I’ll be looking at automotive gross profit first. In Q2, the auto business posted a $36 million gross loss, while software and services, mostly the Volkswagen joint venture, pushed Rivian to $179 million in consolidated gross profit. Back in April, CFO Claire McDonough said she expected Rivian to exit 2026 with positive automotive gross margins, so tomorrow’s number should show whether R2 is getting cheaper to build fast enough to get there.
It’s also McDonough’s last call before she leaves at the end of October, with Derek Mulvey stepping in as interim CFO.
In its preview, TIKR noted that analysts are modeling revenue near $2 billion for the quarter, up about 30% from a year ago, and that Rivian no longer expects positive adjusted EBITDA in 2027 because of heavier autonomy spending.
Autonomy should take up a good chunk of the Q&A. Point-to-point is still slated for a limited rollout before the end of the year, and I’d expect questions about last week’s Third Dimension AI acquisition and the R2 Lidar push to 2027.
With the R2 Premium trims still due in late 2026, I expect Rivian to lean on the Q4 ramp and leave delivery guidance where it is. I’ll break down the full results for you right after the call.
