Sign in Subscribe

Archer Aviation Stock Drops After Reporting Wider-Than-Expected Q4 Loss

Archer Aviation (ACHR) stock declined after the company announced a wider-than-expected loss for the fourth quarter of 2023. The electric vertical takeoff and landing (eVTOL) aircraft developer reported a loss of $0.32 per share, which was greater than the Wall Street consensus estimate of a $0.28 per share loss. In response to the earnings miss, the company's shares fell significantly in pre-market trading. Despite the financial results, Archer highlighted significant operational progress, including the completion of its first Midnight aircraft and receiving key FAA certification. The company also affirmed its strong liquidity, ending the year with approximately $625 million.

Official Source: https://www.tipranks.com/news/achr-earnings-archer-aviation-stock-down-on-wider-q4-loss

Comments ()