Truck/Bus Manufacturer Lion Electric Reports Disappointing Q4 Earnings, Stock Tumbles
Portfolio Pulse from Vandana Singh
Lion Electric Company (NYSE:LEV) reported Q4 2023 earnings with revenue of $60.4 million, below the consensus of $89.99 million, and a wider net loss of $(56.5) million compared to $(4.6) million in Q4 2022. The company delivered 188 units in the quarter, up from 174 units a year ago, and has over 1,850 vehicles on the road. The order book stands at 2,076 vehicles and 132 charging stations, with a combined value of approximately $504 million. LEV shares fell 15.3% to $1.42.

February 29, 2024 | 7:33 pm
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Lion Electric reported disappointing Q4 2023 earnings with revenue below expectations and a significant increase in net loss, causing its stock to tumble 15.3%.
The significant shortfall in revenue compared to consensus estimates and the widened net loss year-over-year are clear indicators of financial distress in the short term. These factors, combined with the negative market reaction reflected in the 15.3% drop in stock price, suggest a bearish outlook for LEV in the immediate future. The increase in vehicle deliveries and the solid order book might provide some support, but the immediate financial results and market reaction are likely to dominate investor sentiment.
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