Redwire Corp. (RDW) experienced a sharp decline of 8.35% in after-hours trading on Wednesday, following the release of its fourth-quarter financial results.
The space infrastructure company reported quarterly losses of $0.58 per share, which missed the analyst consensus estimate of $0.19 by a substantial 206.88%. This significant earnings shortfall overshadowed the positive news that quarterly sales of $108.794 million beat estimates of $102.362 million by 6.28%.
The company reported a net loss of $85.473 million for the quarter, with EBIT of -$81.617 million, indicating continued operational challenges despite revenue growth. The market reacted negatively to the wider-than-expected losses, driving the stock price downward in extended trading.