Guardian Pharmacy Services, Inc. (NYSE:GRDN) saw its stock price plummet 5.14% in Friday's trading session following the release of its full-year 2024 financial results. The company's earnings report revealed a surprising turn from profit to loss, catching investors off guard.
According to the earnings report, Guardian Pharmacy Services posted revenue of $1.23 billion for the full year 2024, representing a 17% increase from the previous year. However, the company swung to a net loss of $87.3 million, a stark contrast to the $23.9 million profit reported in fiscal year 2023. This translates to a loss of $1.41 per share, significantly missing analyst expectations by 48%.
The dramatic shift to a net loss appears to be primarily driven by rising costs. The company's cost of sales amounted to $984.0 million, accounting for 80% of total revenue. Additionally, general and administrative expenses reached $302.9 million, representing 91% of total expenses. These figures underscore the significant impact of operational costs on the company's bottom line. The market's negative reaction was further amplified by a reported NYSE order imbalance of 19,790 shares on the sell side, indicating strong selling pressure on the stock.
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.