Rivian Automotive, Inc. (NASDAQ:RIVN) Q1 2024 Earnings Conference Call May 7, 2024 5:00 PM ET

Company Participants

Tim Bei - Vice President of Investor Relations
RJ Scaringe - Chief Executive Officer
Claire McDonough - Chief Financial Officer

Conference Call Participants

Mark Delaney - Goldman Sachs
Adam Jonas - Morgan Stanley
John Murphy - Bank of America Securities
Dan Levy - Barclays
George Gianarikas - Canaccord Genuity
Alexander Potter - Piper Sandler
Emmanuel Rosner - Deutsche Bank
Shreyas Patil - Wolfe Research
Joseph Spak - UBS

Operator

Good day and thank you for standing by. Welcome to the Rivian First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your host, Tim Bei, Vice President of Investor Relations. You may begin.

Tim Bei

Good afternoon and thank you for joining us for Rivian's First Quarter 2024 Earnings Call. Before we begin, matters discussed on this call, including comments and responses to questions, reflect management's views as of today.

We will also be making statements related to our business operations and financial performance that may be considered forward-looking statements under federal securities laws. Such statements involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are described in our SEC filings and today's shareholder letter.

During this call, we will discuss both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is provided in our shareholder letter.

Just before the call, we published our shareholder letter, which includes an overview of our progress over the recent months. I encourage you to read it for additional details around some of the items we'll cover on today's call.

With that I'll turn the call over to RJ who will begin with a few opening remarks.

RJ Scaringe

Thanks, Tim. Hello, everyone, and thanks for joining us today. During our call, I will highlight key developments in the first quarter and provide an update on the expected progress we're making against our value drivers.

First quarter results exceeded our outlook and set a strong foundation for the remainder of the year as we focus on continued demand generation, delivering cost and plant efficiency improvements, advancing R2 development, and driving towards profitability.