Rivian shares tumbled 12% on disappointing production guidance due to supply chain issues.
Rivian reported Q4 results with both EPS of ($2.43) and revenue of $54 million coming in worse than the consensus estimates of ($1.64) and $61.18 million, respectively.
The company delivered 920 vehicles during the full 2021-year, out of which 909 vehicles were delivered in Q4.
According to the company’s shareholder letter, it is not immune to the supply chain issues in the immediate term, expecting those to continue through at least 2022. As a result, the company guided 2022 production of 25,000 vehicles.
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