Shares of Nexa Resources S.A. (NYSE: NEXA) plummeted 6.57% in Thursday's intraday trading session following the release of the company's full-year 2024 financial results.
While Nexa reported a 7.5% year-over-year increase in revenue to $2.77 billion, beating analyst expectations, the company's earnings per share (EPS) fell significantly short of estimates. Nexa reported an EPS loss of $1.55 for the full year, missing analyst estimates by a wide margin of 171%.
Despite the revenue growth, Nexa continued to post a net loss of $205 million for the year, although the loss narrowed by 30% compared to fiscal year 2023. The disappointing earnings and profitability figures likely drove the sharp sell-off in Nexa's stock on Thursday.
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