ARKO Corp's stock suffered a steep plummet of 31.13% in the pre-market trading session on Thursday, following the company's weaker-than-expected fourth-quarter 2024 earnings results.
The gas station and convenience store operator reported a quarterly net loss of $0.03 per share, significantly missing analysts' consensus estimate of $0.01 earnings per share. ARKO's revenue for the quarter also fell short of expectations, coming in at $1.99 billion versus the anticipated $2.13 billion.
The company's disappointing financial performance, with a reported net loss of $3.74 million for the quarter, raised concerns among investors and likely triggered the sharp sell-off in ARKO's stock during pre-market trading.
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