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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.