Rivian projected a surprise drop in electric vehicle deliveries for the year but said it expected to post a modest gross profit, as it slashed raw material and supply chain costs in its drive for efficiency.

Rivian Automotive Inc. recorded its first-ever quarterly gross profit to close out 2024, achieving a long-held goal even as it warned that policy shifts in Washington will weigh on its electric-vehicle sales this year.

Rivian put out its 2025 guidance in its Q4 2024 earnings results, posted on its investor relations website this week. For its 2025 guidance, Rivian put up an estimated on vehicle deliveries of 46,000 to 51,000. Wall Street experts had been hoping to see something closer to 55,000 for the entire year.