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Lightning eMotors reports Q4 EPS (11c), consensus (27c)
The Fly

Lightning eMotors reports Q4 EPS (11c), consensus (27c)

Reports Q4 revenue $4.33M, consensus $10.21M. The company produced a record 128 units during the quarter. "Our record vehicle production in the fourth quarter capped a year in which we dramatically grew our manufacturing capacity and efficiency, managed through supply chain challenges, introduced new vehicle platforms, and established associations with strong OEM partners," said Tim Reeser, CEO of Lightning eMotors. "For the year we generated record revenue and made critical investments in key electric vehicle and powertrain technologies. In the fourth quarter our revenue was constrained due to a major supplier quality issue with Romeo batteries. Although all of our new platforms use Proterra or CATL batteries today, we had a significant number of builds and shipments scheduled for Q4 2022 and Q1 2023 of a legacy platform that still used Romeo batteries, and all of those shipments had to be held back due to the Romeo quality issues. In addition, we saw some of our demand push out to the second half of this year as customers aligned their purchase timing with the new EPA, FTA, and IRA incentive programs that were announced last year."

Published first on TheFly

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