Peloton Says Cost Of Recall Substantially Exceeded Initial Expectations, Leading To An Additional Accrual Of $40M This Quarter For Actual Costs Incurred As Well As Anticipated Future Recall-Related Expenses
Portfolio Pulse from Benzinga Newsdesk
Peloton has announced that the cost of its product recall has substantially exceeded initial expectations, leading to an additional accrual of $40M this quarter for actual costs incurred as well as anticipated future recall-related expenses.
August 23, 2023 | 11:13 am
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Peloton's product recall costs have exceeded initial expectations, leading to an additional $40M accrual this quarter. This could negatively impact the company's financial performance in the short term.
The news directly pertains to Peloton and its financial performance. The additional $40M accrual due to recall costs exceeding expectations could negatively impact the company's earnings, potentially leading to a decrease in its stock price in the short term.
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