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.

The good news is that on Thursday afternoon, Rivian reported a fourth-quarter gross profit of $170 million, a result of sales growth and cost cuts. Wall Street was looking for $64 million. The profit is about $12,

The EV company expects sales to be flat in 2025, but still expects a modest profit for the year.