Proterra falls as loss nearly doubles, supply issues linger

Proterra

16/03/2023 12:01

** Shares of electric-bus maker Proterra Inc  PTRA.O  fall
15.9% to $2.11 premarket
    ** Co posts wider Q4 loss of $81 mln vs loss of $45.1 mln
last year
    ** Says Q4 2022 margins were impacted by manufacturing
inefficiencies and underutilization related to parts shortages
    ** "Though we expect initial production inefficiencies and
underutilization at new Powered 1 factory to translate into
gross losses in the H1 of year, expect positive gross margin in
H2 of 2023," company says
    ** PRTA expects to report full-year 2023 revenue in a range
of $450 mln to $500 mln, up between 45% and 61% y-o-y
    ** PRTA fell 57.30% in 2022

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))