TPI Composites shares are trading lower after the company said it expects to incur credit losses and impairment charges of approximately $20 to $23 million as a result of Proterra's bankruptcy filing.
Portfolio Pulse from Benzinga Newsdesk
TPI Composites (TPIC) expects to incur credit losses and impairment charges of approximately $20 to $23 million due to Proterra's bankruptcy filing. This has led to a decrease in TPIC's share price.
August 14, 2023 | 4:31 pm
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TPI Composites expects to incur significant losses due to Proterra's bankruptcy, leading to a decrease in its share price.
TPI Composites' financial health is directly impacted by Proterra's bankruptcy, as it expects to incur significant credit losses and impairment charges. This negative news has led to a decrease in TPIC's share price, indicating a negative short-term impact.
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