LEV - Lion Electric GAAP EPS of -$0.07 beats by $0.03 revenue of $54.7M beats by $0.9M
2023-05-09 06:37:29 ET
- Lion Electric press release ( NYSE: LEV ): Q1 GAAP EPS of -$0.07 beats by $0.03 .
- Revenue of $54.7M (+141.6% Y/Y) beats by $0.9M.
- The company delivered 220 vehicles, an increase of 136 vehicles, as compared to the 84 delivered in the same period last year.
- The company officially inaugurated the battery manufacturing factory that will produce lithium-ion batteries for medium and heavy-duty vehicles in Mirabel. Certification of the first battery pack is expected in the second quarter of 2023, followed by a gradual production ramp-up in 2023. The first Lion batteries will serve to power the LionC and LionD school buses and the Lion5 trucks.
- "We are pleased with our Q1 2023 performance, as we increased the number of vehicles delivered for the sixth quarter in a row," commented Marc Bedard, CEO – Founder of Lion. "With manufacturing operations at both our Joliet vehicle plant and our battery factory now underway, we are focused on achieving profitability and are putting the right elements in place to achieve this objective," concluded Marc Bedard.
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Lion Electric GAAP EPS of -$0.07 beats by $0.03, revenue of $54.7M beats by $0.9M