LEV - Lion Electric's Q1 Performance Disappoints CEO On Streamlining Strategies To Ensure Long-Term Success | Benzinga
The Lion Electric Company (NYSE:LEV) reported first-quarter 2024 revenue growth of 1.4% year-over-year to $55.48 million, missing the consensus of $69.16 million.
The revenue increase was mainly due to a higher proportion of U.S. vehicle sales, enhancing the product mix, though partially offset by a drop in sales volume from 220 to 196 units over the quarter.
Gross loss was $(11.1) million, reflecting higher manufacturing costs due to the introduction of a new product, versus a gross loss of $(2.3) a year ago.
Adjusted EBITDA loss was $(17.3) million compared to $(14.5) million loss a year ago.
The company ...