Rivian Automotive NASDAQ:RIVN shares climbed about 10% on Thursday after the electric vehicle maker reported second-quarter deliveries above its previously projected range and lifted its full-year 2026 delivery outlook.
Rivian delivered 12,194 vehicles during the second quarter, exceeding its earlier guidance of 9,000 to 11,000 units. The stronger result prompted Rivian to increase its full-year delivery forecast to 65,000 to 70,000 vehicles from its prior expectation of 62,000 to 67,000 units.
The updated guidance suggests Rivian is seeing stronger-than-anticipated demand and operational execution as it expands production. The revised forecast also points to improved confidence in the company's ability to meet customer demand through the remainder of the year.
Rivian's upbeat delivery report stood out among electric vehicle manufacturers reporting quarterly results, with investors responding positively to the higher outlook. The stock jumped about 10% in early trading following the update as markets reacted to the stronger delivery performance and improved annual forecast.