SNDL Inc. shares are tumbling in pre-market trading on Tuesday, plummeting 10.5% following the release of its third-quarter earnings report. The cannabis and liquor retailer's results revealed a mixed performance, with a substantial earnings miss overshadowing a slight beat on revenue.

The company reported a quarterly loss of $0.05 per share, significantly missing the analyst consensus estimate of a $0.02 loss. This disappointing figure represents a 150% larger loss than expected, likely contributing to the sharp decline in stock price. On a more positive note, SNDL's quarterly sales came in at $244.219 million, narrowly beating the analyst consensus estimate of $242.976 million by 0.51%.

Despite the earnings setback, SNDL showed some signs of improvement compared to the same period last year. The reported loss per share of $0.05 represents a 28.57% reduction from the $0.07 loss per share in the previous year's quarter. Similarly, sales increased by 3.09% year-over-year from $236.892 million. However, the market's strongly negative reaction suggests that investors were expecting better results, particularly in terms of profitability, and are now reassessing the company's near-term prospects.