PSNY - What's Going On With EV Maker Polestar Automotive's Stock? | Benzinga
Polestar Automotive Holding (NASDAQ:PSNY) shares are trading lower Friday after the company reported its preliminary unaudited financial and operational results for 2023.
The Details:
Polestar reported fiscal year 2023 revenue of $2.38 billion, compared to revenue of $2.45 billion in the previous year. Polestar’s 2023 gross profit margin was in-line with earlier guidance, prior to recognizing non-cash impairment charges of around $450 million, relating to Polestar 2 assets and inventory impairment.
“With the 2023 preliminary results now published, Polestar and its auditors are finalizing the process, and we now expect to file our Annual Report on Form 20-F in the coming weeks,” commented Per Ansgar, Polestar's CFO.
The company also set the date to release its first-quarter 2024 preliminary unaudited results, as well ...