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Bullboard - Stock Discussion Forum Lion Electric Ord Shs LEGWQ


Primary Symbol: T.LEV Alternate Symbol(s):  LEVGQ | T.LEV.WT | LEVWQ | T.LEV.WT.A

The Lion Electric Company is a manufacturer of zero-emission vehicles. The Company creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric school buses. It is engaged in electric transportation and designs, builds and assembles many of its vehicles' components, including chassis, battery packs, truck cabins and bus bodies. Each Lion vehicle is... see more

TSX:LEV - Post Discussion

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Post by Dibah420 on Mar 01, 2024 4:15pm

NA

National Bank Cuts Lion Electric's Target to US$1.75
MT Newswires - Mar 01, 2024 1:42 PM EST

01:42 PM EST, 03/01/2024 (MT Newswires) -- National Bank provided an updated outlook for Lion Electric following Q4'23 results.

Key Takeaways (in US$)

Q4 sales of 188 units (10 truck, 178 bus) far below National's 300 units (40 truck, 260 bus), leading to revenue of $60 million (NBF $100 million, cons. $90 million), down from $80 million in Q3, the first quarter in two years of negative q/q growth.

Lion posted adj. EBITDA of $(6) million, roughly in line with forecasts, with lower SG&A and selling costs. The backlog fell q/q to 2,076 units from 2,232, and remains challenged by uncertainty on the Canadian government ZETF program (applies to roughly 50% of LEV's backlog). Government funding in the U.S. remains robust, but LEV could see near-term market softness. A working capital release of $50-75 million and reduced headcount should preserve liquidity in the near term.

Target cut to US$1.75/share (was US$2.25/share), based on a 1.3x EV/sales multiple on 2025E.

Maintain Sector Perform.

Price: 2.02, Change: +0.03, Percent Change: +1.26

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