The Lion Electric Company

OTCPK:LEVG.Q Stock Report

Market Cap: US$6.8m

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Lion Electric Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

Marc Bedard

Chief executive officer

n/a

Total compensation

CEO salary percentagen/a
CEO tenure18.3yrs
CEO ownershipn/a
Management average tenure2.6yrs
Board average tenure5.4yrs

Recent management updates

Recent updates

Seeking Alpha • Mar 05

Lion Electric: Turning Bearish On Revenue Miss (Rating Downgrade)

Summary Lion Electric's actual Q4 2023 sales were -32% lower than what the market expected, which drove its shares down by -13% on the day of its fourth quarter results release. LEV's FY 2024 results might be below expectations, assuming higher-than-expected costs associated with new launches and a slower-than-expected pace of approvals for Canada's Zero Emission Transit Fund or ZETF. I turn bearish on Lion Electric stock, as the profitability inflection point for LEV could be delayed. Read the full article on Seeking Alpha
Seeking Alpha • Dec 06

Lion Electric: Surviving The Electric Vehicle Carnage Will Be Difficult

Summary Electric vehicle deSPACs have experienced a disastrous year, with bankruptcies and solvency issues. Lion Electric is one of the few EV deSPACs still trading above the $1 minimum listing requirement. The company continues to record heavy cash burn from operations. The current liquidity balance forms a cash runway of just 3 quarters as free cash burn is set to remain sticky in the face of cost cutting. Read the full article on Seeking Alpha
Seeking Alpha • Sep 26

Lion Electric: A Hold Considering Financing And Profitability Factors

Summary Lion Electric has guided for lower capital expenditures next year, which is expected to ease the company's financing burden. But analysts have revised downwards their expectations of LEV's profitability in the near term and the long run. I continue to rate LEV stock as a Hold after taking into account factors like funding needs and profitability expectations. Read the full article on Seeking Alpha
Seeking Alpha • Jul 17

Lion Electric: High Risk, But Attractive Price Level

Summary LEV is facing challenges due to global supply chain issues and inflationary pressures, impacting its profitability and liquidity. Still strong secular EV tailwinds, particularly in North America, supported by government policies promoting lower carbon transportation options. At $2.1 per share today, the price level is attractive. I rate the stock a buy. Read the full article on Seeking Alpha
Seeking Alpha • Feb 02

Lion Electric completes sale-leaseback transaction with BTB for C$28M

The Lion Electric (NYSE:LEV) it had completed a sale-leaseback transaction with BTB Real Estate Investment Trust for its battery manufacturing building located in Quebec for C$28M. The proceeds will be used to repay amounts outstanding under its revolving credit facility and to fund transaction expenses, the company said.
Seeking Alpha • Dec 22

Lion Electric produces first lithium-ion battery pack at it's facility

The Lion Electric Company (NYSE:LEV) has completed production of its first lithium-ion battery pack at the company's battery manufacturing facility located in Mirabel, Quebec. Final certification of the first battery pack is expected in Q1 2023, followed by a gradual ramp up of production in 2023. The first batteries produced in Mirabel will power the Lion5 truck and the LionAmbulance, expected to reach commercial production in the H1 2023. At full scale, Lion's battery manufacturing facility is expected to have an annual production capacity of five gigawatt-hours of battery capacity. "The production of our first battery pack out of our Mirabel battery facility is an important step for Lion and should, over time, bring with it a new level of optimization for product design and production efficiency. I am incredibly proud of our team for the continued advancement of this project, and I am very thankful to the Canadian and Quebec governments for their support in making it a reality." said Yannick Poulin, COO.
Seeking Alpha • Dec 12

Lion Electric stock drops 12% aftermarket on launch of marketed public offering

Lion Electric (NYSE:LEV) stock dropped 12.4% after the bell on Monday as the EV maker announced the launch of a marketed public offering of units in the U.S. and Canada. Each unit will consist of one share and one share purchase warrant. Each warrant will entitle the holder to acquire one share at an exercise price to be determined later. Underwriters will be granted an over-allotment option, exercisable for 30 days from the date of closing of the offering, to buy additional units representing up to 15% of the total number of units to be sold in the offering. Power Sustainable Capital indicated interest in buying units at the offering price for ~$25M. Lion Electric (LEV) in June announced $125M at-the-market stock offering.
Seeking Alpha • Nov 09

Lion Electric secures C$30M credit facility

Lion Electric (NYSE:LEV) has secured a C$30M credit facility from global investment group CDPQ and private debt fund Finalta Capital to fund its growth strategy. Upon closing of the financing, an amount of C$30M was drawn on the credit facility. Lion Electric (LEV) used a portion of the drawn amount to pay down previous credit facilities it had concluded with Finalta Capital in May 2021. This bespoke financing is guaranteed by a security interest on substantially all movable property of Lion (LEV) and some of its subsidiaries, including a senior security on certain governmental and tax incentives and credits to be received by Lion, notably in relation to certain vehicles that the company has already delivered.
Seeking Alpha • Sep 11

The Lion Electric: New Facilities May Justify Higher Price

Summary The Lion Electric Company designs, develops, manufactures, and distributes all-electric medium and heavy-duty urban vehicles. I assumed that The Lion Electric would continue to receive orders in advance. The fact that the company's order book continues to grow is quite beneficial. Considering the increase in public expenditure announced by many governments, I believe that The Lion Electric will likely find many opportunities for receiving public money. The Lion Electric Company (LEV)(LEV:CA) announced two new facilities, and management is signing new agreements with governments. In my view and that of other investment analysts, the company will most likely experience significant revenue growth and positive free cash flow from 2024. There are obviously risks, and LEV is not for every investor. However, under normal conditions of manufacturing and EV production, my discounted cash flow model resulted in fair value that exceeds the current market price. The Lion Electric Company: New Manufacturing Facilities Will Likely Enhance Production And Stock Valuation The Lion Electric Company designs, develops, manufactures, and distributes all-electric medium- and heavy-duty urban vehicles. The Lion Electric is a revenue generating company currently offering seven urban trucks and bus models. Company Report Q2 2022 There are two main catalysts for the company’s growth that I think will make a difference. First, The Lion Electric expects to build a new 900,000 sq.ft. manufacturing facility in Joliet, Illinois. In my opinion, analysts will do good by following the company’s announcements very carefully. Keep in mind that production in this facility is expected by the end of 2022. Let’s remind readers that more production facilities will likely mean more revenue growth and more stock valuation: The Company now has taken possession of the Joliet Facility, and commercial production of school buses is expected to begin towards the end of 2022. Source: Company Report Q2 2022 Besides, the company is expected to build a new battery manufacturing plant and an innovation center located in Quebec. With production expected towards the end of 2022, new capacity would mean 5 gigawatt hours more to electrify trucks and buses: The battery manufacturing plant will be highly automated and is expected to begin production of battery packs and modules made from Lithium-ion cells towards the end of 2022, with a planned annual production capacity at full scale of 5 gigawatt hours Source: Company Report Q2 2022 Expectations From Analysts Include Double Digit EBITDA Margin From 2024 I decided to review the company’s financials after I had a look at the expectations of other analysts. In two years, most investors are expecting not only double digit sales growth, but also an EBITDA margin close to 12% and operating margin around 4%. marketscreener.com In my view, as soon as more investment analysts review the expectations of the market, the demand for the stock will increase, and the stock price may follow. Considering this opinion, I decided to run my own financial models. Balance Sheet As of June 30, 2022, The Lion Electric Company reported cash worth $83 million and an asset/liability ratio worth 3-4x. I believe that the company’s financial situation will allow The Lion Electric to design and develop new models. Company Report Q2 2022 The long-term debt is equal to $3 million, but the company also reports share warrant obligations worth $27 million. Short term debt stands at $10 million. Considering my EBITDA expectations for the years 2027 and 2032, I believe that The Lion Electric could use even more debt if necessary. Company Report Q2 2022 Financing from Governments, Incentives, And Order Book Growth Would Imply A Valuation Of $9.9 Per Share Under normal circumstances, I would expect new agreements with governments in the United States, Canada, and perhaps Europe. Considering the increase in public expenditure announced by many governments, I believe that The Lion Electric will likely find many opportunities for receiving public money. The most recent agreement with the U.S. Department of Energy is a very good example of what I am expecting: On April 15, 2022, Lion signed a Memorandum of Understanding with the U.S. Department of Energy, aimed at accelerating the development and deployment of vehicle-to-everything technologies. Lion was the only school bus manufacturer selected by the DOE to sign onto the agreement. Under the MOU, Lion will collaborate with over a dozen industry leaders including utilities, OEMs, government agencies, industry labor organizations and the DOE to collaboratively explore the development and integration of bidirectional electric vehicle charging infrastructure into the nation's energy grid. Source: Company Report Q2 2022 Besides, I also expect that incentives in Canada and the United States to acquire electric vehicles will likely have an impact on the company’s revenue growth. In this regard, let’s mention the financing to be received by customers that opt to buy EVs under the Canadian Incentives for Medium and Heavy-duty Zero-Emission Vehicles Program. On July 19, 2022, Lion announced that its customers in Canada can now receive up to $150,000 in funding under Transport Canada's newly launched Incentives for Medium and Heavy-duty Zero-Emission Vehicles Program. Source: Company Report Q2 2022
Seeking Alpha • Aug 31

Lion Electric CEO buys C$249.95K in company shares

Lion Electric (NYSE:LEV) disclosed a share purchase by its CEO-Founder Marc Bedard. Bedard bought 50,000 common shares of Lion (LEV) on Aug 30, 2022. The shares were acquired through a trade through the facilities of the Toronto Stock Exchange at a price of C$4.99/share and an aggregate purchase price of C$249.95K. Following the purchase, Bedard had beneficial ownership of over 26.5M common shares and 2.87M exercisable options to purchase common shares, representing ~15.2% of the issued and outstanding common shares of Lion (LEV) on a partially diluted basis.
Seeking Alpha • Aug 04

Lion Electric Q2 2022 Earnings Preview

Lion Electric (NYSE:LEV) is scheduled to announce Q2 earnings results on Friday, August 5th, before market open. The consensus EPS Estimate is -$0.09 (+92.0% Y/Y) and the consensus Revenue Estimate is $30.27M (+81.4% Y/Y). Over the last 3 months, EPS estimates have seen 0 upward revisions and 4 downward. Revenue estimates have seen 1 upward revision and 4 downward.
Seeking Alpha • May 04

Lion Electric: Could Common Shares See Upside As Electrification Accelerates?

Lion Electric has seen its stock price cut by nearly 74% from its 52-week high. The manufacturer of zero-emission medium and heavy-duty vehicles stands to gain from the decarbonisation of transport. The common shares hold high upside potential if strong EV sentiment returns.
Seeking Alpha • Apr 14

A First Look At The Lion Electric Company

Today, we put The Lion Electric Group into the spotlight for the first time. The company is in the process of significantly ramping up capacity and seeing rapid growth in its order book for electric buses and trucks. The stock has been in the doldrums recently, as have most EV-related concerns. A full investment analysis follows in the paragraphs below.

CEO Compensation Analysis

How has Marc Bedard's remuneration changed compared to Lion Electric's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2024n/an/a

-US$131m

Jun 30 2024n/an/a

-US$117m

Mar 31 2024n/an/a

-US$110m

Dec 31 2023US$2mUS$486k

-US$104m

Sep 30 2023n/an/a

-US$52m

Jun 30 2023n/an/a

-US$49m

Mar 31 2023n/an/a

US$90k

Dec 31 2022US$1mUS$457k

US$18m

Sep 30 2022n/an/a

US$51m

Jun 30 2022n/an/a

US$191m

Mar 31 2022n/an/a

-US$25m

Dec 31 2021US$587kUS$391k

-US$43m

Sep 30 2021n/an/a

-US$123m

Jun 30 2021n/an/a

-US$285m

Mar 31 2021n/an/a

-US$108m

Dec 31 2020US$220kUS$216k

-US$97m

Compensation vs Market: Insufficient data to establish whether Marc's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: Insufficient data to compare Marc's compensation with company performance.

CEO

Marc Bedard (60 yo)

18.3yrs
Tenure
US$1,647,705
Compensation

Mr. Marc Bedard is the Founder, Chief Executive Officer and Director of The Lion Electric Co since 2008. Prior to founding Lion, Mr. Bedard served as vice-president and chief financial officer of Les Entre...

Leadership Team

NamePositionTenureCompensationOwnership
Marc Bedard
Founder18.3yrsUS$1.65mno data
Richard Coulombe
Chief Financial Officer2.6yrsUS$606.29kno data
Yannick Poulin
Chief Operating Officer10yrsUS$566.33kno data
Dominique Perron
Chief Legal Officer & Corporate Secretary2.8yrsno datano data
Patrick Gervais
Vice President of Marketingno datano datano data
Maxime Gauvin
Vice President of Corporate Development2.6yrsno datano data
Marc-Andre Page
Chief Customer Officer1.8yrsno datano data
Michel Galland
Chief Executive Officer of Autobus Gallandno datano datano data
Vince Spadafora
Senior VP of Finance & Treasurer2.6yrsno datano data
2.6yrs
Average Tenure

Experienced Management: LEVG.Q's management team is considered experienced (2.6 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Marc Bedard
Founder18.3yrsUS$1.65mno data
Lorenzo Roccia
Independent Director4.7yrsUS$132.32kno data
Pierre Larochelle
Chairman of the Board8.5yrsUS$181.46kno data
Sheila Colleen Bair
Independent Director5.6yrsUS$139.88kno data
Michel Ringuet
Lead Independent Director8.5yrsUS$143.66kno data
Pierre-Olivier Perras
Director5.3yrsUS$132.32kno data
Latasha Akoma
Independent Director4.3yrsUS$132.32kno data
Pierre Wilkie
Independent Director6.9yrsUS$141.77kno data
Ann Payne
Independent Director5.3yrsUS$132.32kno data
Dane Parker
Independent Director3.7yrsUS$132.32kno data
5.4yrs
Average Tenure
58.5yo
Average Age

Experienced Board: LEVG.Q's board of directors are considered experienced (5.4 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/07 13:31
End of Day Share Price 2026/04/07 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

The Lion Electric Company is covered by 5 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kevin ChiangCIBC Capital Markets
Benoit PoirierDesjardins Securities Inc.
Abhishek SinhaNorthland Capital Markets