Proterra tumbles on disappointing outlook, supply chain issues

Proterra

02/03/2022 09:45

** Electric-bus maker's shares  PTRA.O  down 10.2% at $7.39
premarket
    ** PTRA posts Q4 net loss of $1.49 per share, larger than
estimates of a $1.14 per share loss, according to six analysts
polled by Refinitiv
    ** Co says it expects FY 22 revenue of $300 mln to $325 mln,
below estimates of $400.8 mln
    ** Says significant supply chain uncertainty remains a
challenge that is unlikely to be helped by recent geopolitical
conflict
    ** Says it expects core supply chain and production
challenges faced in Q4 to continue at least for the next several
quarters
    ** Up to last close, stock had fallen ~55% since completing
SPAC merger

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com;))