The Lion Electric Company

LEV

Equity

ISIN CA5362211040 / Valor 110951460

Toronto Stock Exchange (2024-09-16)

CAD 1.02%

The Lion Electric Company
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About company

The Lion Electric Company is a North American leader in the manufacturing of zero-emission vehicles, specializing in the production of all-electric school buses and urban trucks. As an original equipment manufacturer (OEM), Lion Electric not only designs and manufactures the complete vehicles but also produces key components in-house, such as chassis, battery packs, cabins, and powertrains. This integrated approach allows the company to tailor its vehicles to meet the specific needs of its users, ensuring that each vehicle is well-suited to the demands of daily operation. Lion Electric's commitment to innovation is evident in its continuous search for new technologies to enhance vehicle performance and user experience. By focusing on the electrification of transportation, Lion Electric aims to contribute to societal, environmental, and quality of life improvements.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Revenue Decline

The Lion Electric Company reported revenue of $30.3 million for the second quarter of 2024, a significant decrease from the $58.0 million reported in the same quarter of 2023. This decline was primarily due to a reduction in vehicle sales volume, with only 101 vehicles delivered compared to 199 in Q2 2023.

Gross Loss

The company experienced a gross loss of $15.2 million in Q2 2024, compared to a gross profit of $0.4 million in Q2 2023. The loss was attributed to higher manufacturing costs associated with the introduction of new products and lower sales volume.

Net Loss

The Lion Electric Company reported a net loss of $19.3 million for the second quarter of 2024, an increase from the net loss of $11.8 million in the same period of the previous year. The increased net loss reflects the challenges faced in the current market environment.

Adjusted EBITDA

Adjusted EBITDA for Q2 2024 was negative $20.6 million, compared to negative $9.7 million in Q2 2023. This further decline in adjusted EBITDA highlights the ongoing financial challenges the company is facing.

Order Book

As of July 30, 2024, The Lion Electric Company's vehicle order book consisted of 1,994 all-electric medium- and heavy-duty urban vehicles, representing an estimated total order value of approximately $475 million. Additionally, the LionEnergy order book included 394 charging stations and related services, valued at approximately $9 million.

Summarized from source with an LLMView Source

Key figures

-63.4%1Y

-93.7%3Y

%5Y

Performance

54.3%1Y

59.9%3Y

59.8%5Y

Volatility