Stock Track | Sigma Lithium Plummets 5.63% on Dismal Q3 Earnings Miss and Weak Outlook

Stock Track11-15

Shares of Sigma Lithium Corporation (SGML) plummeted 5.63% in Friday's pre-market trading session, underperforming the broader market. The sharp decline came after the lithium mining company reported disappointing fiscal third-quarter 2024 earnings results that missed analysts' expectations on both the top and bottom lines.

According to the earnings report, Sigma Lithium posted a net loss of $0.31 per share for the quarter, significantly missing the consensus estimate of a $0.12 profit. The company's revenue also came in lower than anticipated, at $20.894 million, missing the expected $72.779 million by a wide margin. This represents a substantial 78.46% year-over-year decline in sales compared to the same period last year.

The company's poor performance and weak outlook have raised concerns among analysts, with some revising down their earnings estimates for Sigma Lithium in the last three months. The disappointing results and reduced expectations suggest that the lithium mining industry may be facing challenges, potentially due to factors such as oversupply, softening demand, or increased competition.

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The sharp decline came after the lithium mining company reported ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SGML","symbol_name":"Sigma Lithium Corporation","start_time":0,"source_url":"","article_id":"1107895181","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1107895181","pubTimestamp":1731681497,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Sigma Lithium Corporation  plummeted 5.63% in Friday's pre-market trading session, underperforming the broader market. 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