Phoenix Motor reports Q1 EPS 44c vs. (13c) last year

Reports Q1 revenue $9.4M vs. $1.8M last year. “We are extremely pleased to report record revenues and net income for the first quarter of 2024,” stated Denton Peng, CEO of Phoenix Motor. “Our substantial net income improvement was driven by a significant bargain purchase gain from our recent acquisition of Proterra’s Transit business, which was acquired for considerably below its fair market value.”