Arrival Stock Gains After Preliminary Q4 Results

Arrival SA ARVL reported preliminary financial results for Q4 and FY21. The company expects a loss for Q4 of €37 million - €46 million ($42 million - $52 million), compared to a loss of €34 million in 4Q20.
The company expects an adjusted EBITDA loss for the quarter of €49 million - €58 million ($56 million - $66 million), compared to an adjusted EBITDA loss of €37 million in 4Q20.
The company held €796 million ($905 million) in cash and equivalents as of December 31, 2021.
For FY22, Arrival sees an adjusted EBITDA loss of $185 million - $225 million.
Arrival continues to expect Van production to begin in Bicester in Q3 and Charlotte in Q4 of 2022 and expects to produce and sell 400-600 Vans this year as it ramps production in these two Microfactories.
Price Action: ARVL shares are trading higher by 4.01% at $3.37 on the last check Wednesday.