Braskem SA (BAK) shares tumbled 5.39% in the pre-market trading session on Thursday, as the Brazilian petrochemical company reported a wider net loss and lower-than-expected revenue for the fourth quarter of 2024.
The company posted a net loss of 5.89 billion Brazilian reais ($1.01 billion) in Q4 2024, significantly larger than the loss of 1.75 billion reais in the same period a year earlier. Meanwhile, Braskem's revenue for the quarter came in at 19.15 billion reais, up from 16.69 billion reais a year ago but missing analysts' estimates of 20.44 billion reais.
The disappointing earnings results, marked by a wider net loss and revenue miss, appear to have weighed on investor sentiment, leading to the pre-market sell-off in Braskem's shares.
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