Electric vehicle manufacturer Rivian reported Q2 revenue of $1.66 billion, exceeding estimates of $1.51 billion, and an adjusted loss of $0.47 per share, better than the expected $0.63 loss. The company also posted a gross profit of $179 million, a significant turnaround from a $206 million loss in the same period last year. Despite the strong financial performance, Rivian lowered its 2026 capital expenditure guidance to a range of $1.7 billion to $1.8 billion, down from an earlier forecast of $1.95 billion to $2.05 billion, citing project efficiencies and better spending timing. The company reaffirmed its full-year delivery target of 65,000 to 70,000 vehicles.