Atlas Energy Solutions Inc. (AESI) stock experienced a pre-market plunge of 5.34% on Tuesday, following the company's disappointing fourth-quarter earnings report released after market close on Monday.
The energy solutions provider reported quarterly earnings of $0.06 per share, significantly missing the Zacks Consensus Estimate of $0.17 per share. This represented a steep decline from the earnings of $0.37 per share in the same quarter a year ago.
While revenue for the quarter surpassed analysts' expectations, rising 92.3% year-over-year to $271.34 million, the company's earnings performance fell short of Wall Street's expectations. The missed earnings estimates and year-over-year decline in profitability appear to have weighed on investor sentiment, leading to the pre-market sell-off in AESI shares.
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