Methanex Corporation (MEOH) shares plummeted 6.75% in pre-market trading on Friday, extending losses from the previous session.

The sharp decline follows the company's release of its fourth-quarter financial results, which showed a significant earnings miss. Methanex reported an adjusted loss of $0.14 per diluted share for Q4, a stark reversal from earnings of $1.24 per share in the same period a year earlier. This result fell well short of the analyst consensus estimate, which had anticipated earnings of approximately $0.66 per share.

While quarterly revenue of $968.8 million showed a modest year-over-year increase, the unexpected swing to a loss and the substantial deviation from earnings expectations were the primary catalysts for the negative investor sentiment driving the stock's decline.