Streetbeat News

LEV

The Lion Electric Company

Industry

Agricultural - Machinery

The Lion Electric Company designs, develops, manufactures, and distributes purpose-built all-electric medium and heavy-duty urban vehicles in North America. Its products include battery systems, chassis, bus bodies, and truck cabins. The company also distributes truck and bus parts, as well as accessories. The Lion Electric Company was incorporated in 2008 and is based in Saint-Jérôme, Canada.

Open

0.50

Mkt cap

95M

Volume

1.8M

High

0.51

P/E Ratio

-0.81

52-wk high

1.99

Low

0.42

Div yield

N/A

52-wk low

0.42

Lion Electric Company (NYSE:LEV) reported a disappointing Q1 2024 performance with a revenue growth of 1.4% year-over-year to $55.48 million, missing the consensus of $69.16 million. The revenue increase was attributed to a higher proportion of U.S. vehicle sales, despite a drop in sales volume from 220 to 196 units. The company experienced a gross loss of $(11.1) million and a wider net loss of $(21.7) million compared to the previous year. Adjusted EBITDA loss also widened to $(17.3) million. Lion Electric highlighted its efforts to streamline strategies for long-term success, including workforce adjustments and cost-saving measures, amidst a challenging electric vehicle sector. The company's vehicle order book stood at 2,004 units, and it reported a cash balance of $4.8 million as of March-end, down from $29.9 million at the end of December 2023. LEV shares dropped 7.86% to $0.9583.

Portfolio Pulse from Akanksha Bakshi

May 08, 2024 | 5:23 pm

Lion Electric reported Q1 2024 adjusted EPS of $(0.10), missing the $(0.09) estimate, with sales of $55.50M also missing the $69.16M estimate. This represents a 1.46% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 10:31 am

Lion Electric has announced a workforce reduction affecting about 120 employees, primarily in Canada, focusing on overhead and product development roles. The company asserts this move will not negatively impact its production capacity and expects to have around 1,150 employees after the reduction.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 11:07 am

The California Energy Commission awarded BorgWarner Inc. and partners Fermata Energy and The Lion Electric Company a $3M grant for a Vehicle-to-Grid project to support California school districts with electric school buses. This initiative aims to enhance energy management and transition to electric buses, providing grid-supporting and cost-saving solutions.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 11:50 am

DA Davidson analyst Michael Shlisky maintains a Buy rating on Lion Electric (LEV) but lowers the price target from $4 to $3.5.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 3:10 pm

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.

Portfolio Pulse from Vandana Singh

February 29, 2024 | 7:33 pm

Butterfly Network, Inc. (BFLY) shares fell by 22% after reporting a larger-than-expected GAAP loss for Q4, despite beating sales estimates. Other stocks experienced significant movements, with Enveric Biosciences, Inc. (ENVB) and Societal CDMO, Inc. (SCTL) among the top gainers, while J-Long Group Limited (JL) and Golden Minerals Company (AUMN) led the losers.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 7:00 pm

Lion Electric Company (LEV) reported a significant increase in vehicle deliveries, totaling 852 vehicles for the current period, up by 333 vehicles from the 519 delivered in fiscal 2022.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:06 pm

Lion Electric (LEV) reported a Q4 GAAP EPS of $(0.25), missing the $(0.09) estimate significantly, with a 177.78% miss rate. Year-over-year, this represents a 1150% increase in losses. Q4 sales were $60.43M, missing the $89.99M estimate by 32.85%, but marking a 29.21% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:03 pm

Numerous companies are scheduled to report their earnings on February 29, 2024, covering a wide range of industries from technology to healthcare. This includes both expected quarterly profits and losses, with significant revenues anticipated for some. The diversity of sectors represented, from energy to financial services, highlights the broad economic implications of these reports.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 10:15 am

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