CA - Lion Electric GAAP EPS of -$0.05 beats by $0.05 revenue of $58.02M misses by $8.7M
2023-08-03 06:35:18 ET
- Lion Electric press release ( NYSE: LEV ): Q2 GAAP EPS of -$0.05 beats by $0.05 .
- Revenue of $58.02M (+96.5% Y/Y) misses by $8.7M .
- Delivery of 199 vehicles, an increase of 94 vehicles, as compared to the 105 delivered in the same period last year. Deliveries were negatively impacted by delays in the final approval of a subsidy program which resulted in the deferral to subsequent quarters of the delivery of 50 school buses to one customer despite that such vehicles were ready for delivery and the client being ready to receive them.
- Adjusted EBITDA of negative $9.7 million, as compared to negative $14.4 million in Q2 2022, after mainly adjusting for certain non-cash items such as change in fair value of share warrant obligations and share-based compensation.
- Shares +2.49% PM.
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Lion Electric GAAP EPS of -$0.05 beats by $0.05, revenue of $58.02M misses by $8.7M