GreenPower Motors' Revenue Doubled as Electric School Bus Deliveries Began
Canadian electric bus maker GreenPower Motor (NASDAQ: GP) said on Nov. 12 that its revenue jumped 57% in the quarter that ended on Sept. 30, to $4.44 million, as it began deliveries of its new electric school bus in California.
For that quarter, which was the second quarter of GreenPower's 2022 fiscal year, the company posted a net loss of $2.74 million, or $0.12 per share. That was wider than expected: GreenPower isn't well covered on Wall Street, but the four analysts who answered Thomson Reuters' poll had expected a loss of $0.08 per share, on average.
GreenPower is a small-scale manufacturer of electric buses and vans, ranging from small airport shuttles and commercial vans to full-size urban buses. Over the last year, the company has shifted from a strict build-to-order business model to a system in which it maintains an inventory of vehicles that can be finished to a customer's requirements, which reduces order-to-delivery time.
Source Fool.com
