Rand's moral philosophy is normative (obviously) and derived from consideration of consequences, but it is not consequentialist in its framing of moral principles and rights. Rand argued that moral philosophy requires principles that can be applied in the absence of the ability to foresee particular consequences, in the sense of the full outcomes of actions. Consideration of consequences from action justify the moral philosophy (the inquiry for which occurs at a broad level of considering the kinds of consequences that flow from broad classes of action --- e.g., honesty, dishonesty, etc.), but the principles of that moral philosophy are not framed in terms of consequences.
This aspect of Objectivism being "consequentially motivated" without being consequentialist is addressed in great detail in Smith (1995). Smith argues that the Objectivist moral philosophy is neither deontological nor consequentialist, but instead it is "teleological". For example, on the topic of rights, Smith notes (following the Objectivist moral philosophy) that:
Rights are consequence-based but not consequence-bound. Rights are
consequence-based insofar as they are grounded on the premise that
recognition of rights is necessary for achievement of the sought end.
Desired outcomes are the source of rights' authority. Rights are not
consequence-bound, however, because the actual or immediately
projected outcomes of our actions are not the decisive test of whether
rights should be respected on a given occasion. (p. 103)
This is an important point to understand with regard to the whole of the Objectivist theory of moral philosophy and rights. Since Objectivists appeal to reality to ground their philosophy, the Objectivist moral philosophy is thus necessarily grounded in consideration of the consequences of action. This is the source of the moral principles, but those principles must then be framed at a level of generality and applicability that does not require exceptions that appeal to the ability to fully project the consequences of a particular action.
As an example of the kind of reasoning used in Objectivism, consider a general moral question like: I woke up late and missed a work meeting; should I be honest about the reason, or should I blame car/computer troubles beyond my control? A classical consequentialist approach might operate by tracking the likely consequences of this particular truth/lie and then performing some kind of cost/benefit analysis on these assessed consequences. A person operating under this approach might decide that there is no way for their boss to discover the lie and that it is relatively simple to keep the lie in mind for future consistency, so there are few/no negative consequences of lying in this case. By contrast, an Objectivist view would be more sceptical of the ability to track the long-term consequences of the proposed lie, so it would step back to the broader meta-assessment of the general consequences of dishonesty (perhaps dishonesty over relatively small matters like this or perhaps broader forms of dishonesty) and it would search for a more general principle about whether one should be honest or dishonest in a broad range of situations. Even if it seemed clear that there are few/no negative consequences in this particular case, the Objectivist would be mindful of the general value of the principle of honesty in broader situations. As Smith puts it in the above quote, "...the actual or immediately projected outcomes of our actions are not the decisive test...". Thus, one can imagine a situation like this in which a classical consequentialist would lie (on the basis that the projected consequences of the lie in this situation are small/nil) whereas an Objectivist would tell the truth (on the basis that the full long-term consequences of honesty are positive in a broader range of situations).
Smith, T. (1995) Moral Rights and Political Freedom. Rowman & Littlefield: Maryland