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Lion Electric Drops on Revenue Miss, Dwindling Cash Balance [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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Most Read from Bloomberg Americans Are Racking Up ‘Phantom Debt' That Wall Street Can't Track Trump's Private Life Exposed in Intimate Stormy Daniels Testimony Trump Judge Indefinitely Postpones Documents Case Trial One Out of Every 24 New York City Residents Is Now a Millionaire The Canadian company, which makes electric buses and trucks, said revenue was $55.5 million, well below the $69.4 million expected by analysts tracked by Bloomberg. It has been hurt by bottlenecks in a government program that helps public transit and school bus operators purchase new vehicles. More than half of the vehicles in Lion Electric's $475 million order book are tied to funding from the Canadian government's Zero Emission Transit Fund, or ZETF. Delays and challenges with approvals in that program “continue to negatively impact the company's scheduled deliveries and sales efforts,” Lion Electric said in a filing. Its order book shrunk to 2,004 units, down about 3% from the end of Februar
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