The Lion Electric pany(US:LEV) ZACKS·2024-07-31 12:45Core Viewpoint - Lion Electric reported disappointing earnings, with significant revenue misses and a notable decline in stock performance compared to the broader market. Financial Performance - Lion Electric posted revenues of $30.28 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 50.69% and down from $58.02 million year-over-year [2] - The company reported a quarterly loss of $0.18 per share, worse than the Zacks Consensus Estimate of a loss of $0.12, and compared to a loss of $0.08 per share a year ago [8] - The current consensus EPS estimate for the upcoming quarter is -$0.10 on revenues of $84.73 million, and -$0.39 on revenues of $298.45 million for the current fiscal year [5] Stock Performance - Lion Electric shares have declined approximately 51.7% since the beginning of the year, contrasting with a 14% gain in the S&P 500 [3] - The company has surpassed consensus EPS estimates only twice over the last four quarters [9] Earnings Outlook - The estimate revisions trend for Lion Electric is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [12] - The sustainability of the stock's price movement will depend on management's commentary during the earnings call [10] Industry Context - The Automotive - Domestic industry, to which Lion Electric belongs, is currently ranked in the bottom 27% of over 250 Zacks industries, suggesting potential challenges ahead [13] - Xos, Inc., another company in the same industry, is expected to report revenues of $18.65 million, reflecting a 292.6% increase from the year-ago quarter [7]