The Lion Electric Company (NYSE:LEV) Q2 2024 Results Conference Call July 31, 2024 8:30 AM ET
Company Participants
Isabelle Adjahi - Vice President, Investor Relations and Sustainable Development
Marc Bedard - Chief Executive Officer and Founder
Nicolas Brunet - President
Richard Coulombe - Chief Financial Officer
Conference Call Participants
Mike Shlisky - D. A. Davidson
Kevin Chiang - CIBC
Craig Irwin - ROTH Capital Partners
George Gianarikas - Canaccord
Daniel Lai - Barclays
Rupert Merer - National Bank
Ryan Pfingst - B. Riley
Operator
Good morning, ladies and gentlemen. Welcome to Lion Electric's Second Quarter 2024 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 20 24 Results conference call. Today, I'm here with Marc Bedard, our CEO and Founder; Nicolas Brunet, our President and Richard Coulombe, our Chief Financial Officer.
Please note that our discussion may include estimates and other forward-looking information and that our actual results could differ materially from those implied in any such statements. We invite you to review the cautionary language in this morning's press release and in our MD&A, which contains important information regarding various factors, assumptions and risks that could impact our actual results.
With that, let me turn it over to Marc to begin. Marc?
Marc Bedard
Thank you, Isabelle. Good morning, everyone. Thank you for joining us today. The challenges that we had signaled at the beginning of the year persisted in the second quarter and continues to put pressure on the company from a cash flow management standpoint. These challenges stem from continued delays with the Canadian Federal's ZETF program as well as a slowdown in deliveries in the U.S. EPA program as expected given that we are currently in between funding rounds. Of course, these lower deliveries had an important impact on our revenue, profitability and liquidity position. Management and optimization of our liquidity, therefore, remains our top priority. And it is critical for Lion to have the right cost structure for today's demand environment.
In this context, we are implementing several initiatives to streamline our operations, improve our liquidity and position us to achieve our goal of being profitable in the foreseeable future.