The Lion Electric Company (NYSE:LEV) Q2 2022 Earnings Conference Call August 5, 2022 8:30 AM ET
Company Participants
Isabelle Adjahi – Vice President, Investor Relations and Sustainable Development
Marc Bedard – Chief Executive Officer and Founder
Nicolas Brunet – Executive Vice President and Chief Financial Officer
Conference Call Participants
Mike Shlisky – D.A. Davidson
Craig Irwin – ROTH Capital Partners
Rupert Merer – National Bank
Michael Glen – Raymond James
Mark Neville – Scotiabank
Operator
Good morning, ladies and gentlemen. Welcome to Lion Electric Second Quarter 2022 Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference call is being recorded.
I would now like to turn the call over to Isabelle Adjahi, Vice President, Investor Relations and Sustainable Development. Please go ahead, Ms. Adjahi.
Isabelle Adjahi
Good morning, everyone. Welcome to Lion’s second quarter 2022 results conference call. [Foreign Language] Today, I’m here with Marc Bedard, our CEO-Founder, and Nicolas Brunet, our EVP and CFO. Please note that our discussion will include estimates and other forward-looking information, which our actual results could differ from in the future.
We invite you to review the cautionary language in this morning’s earnings release and in our MD&A regarding the various factors, assumptions and risks that could cause our actual results to differ.
With that, let me turn it over to Marc to begin. Marc?
Marc Bedard
Thank you, Isabelle, and good morning, everyone. We are very proud of our results in the second quarter of this year, both in terms of vehicle deliveries and in the execution of our growth initiatives. As we navigate through those challenging times, we relentlessly focus our strategic activities on accelerating return on investment with the ultimate goal of increasing deliveries to our customers, while at the same time, increasing our manufacturing capacity at a pace consistent with the EV market adoption.
To do that, we leverage both the strength of our Lion ecosystem and experience we have accumulated over 14 years of operations. This enables us to ensure that our investments are aligned with the underlying fundamentals impacting our industry and operations, as well as our liquidity profile. Today, in addition to discussing our Q2 2022 operational and financial performance, we will explain the actions we will implement to support our growth strategy and accelerate return on investment.
There are three key elements for today’s call. First as supply chain continues to improve. So does the pace of our vehicle deliveries. We delivered the highest quarterly number of vehicles ever, with 105 deliveries in Q2. This is the result of a more stable manufacturing rhythm, where we see continued growth in the number of finished vehicles being produced. And we expect our manufacturing operations to continue to improve in the upcoming quarters.