Stock Track | CompoSecure Plunges Over 5% Pre-Market Despite Revenue Beat on Huge Pretax Loss

Stock Track11-08

CompoSecure (CMPO) stock plunged over 5% in pre-market trading on Wednesday, despite the company reporting better-than-expected revenue for the third quarter of 2024. The significant decline came in response to the company's staggering pretax loss of $84.845 million, which missed analysts' estimates of a $29.2 million profit.

While CompoSecure's Q3 sales of $107.135 million exceeded the consensus estimate of $105.5 million, and its adjusted EBITDA of $40 million surpassed the expected $38.5 million, the market's focus was firmly on the company's substantial pretax loss. This massive divergence from anticipated profitability overshadowed the positive aspects of the earnings report, leading to a sharp sell-off in the stock.

Analysts had expected CompoSecure to report an adjusted earnings per share (EPS) of $0.29 for the quarter, but the company fell short with an adjusted EPS of $0.27. The company also reported a net loss of $85.474 million for the quarter, further compounding investor concerns.

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The significant decline came in ...</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":"CMPO","symbol_name":"CompoSecure","start_time":0,"source_url":"","article_id":"1115022888","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1115022888","pubTimestamp":1731068178,"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":"CompoSecure  stock plunged over 5% in pre-market trading on Wednesday, despite the company reporting better-than-expected revenue for the third quarter of 2024. 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