Archer Aviation Stock Falls After Q4 Earnings Miss
Portfolio Pulse from Erica Kollmann
Archer Aviation Inc (NYSE:ACHR) reported Q4 financial results with losses of 34 cents per share, missing analyst expectations by 21.43%. Despite this, the company is progressing with its Midnight aircraft, expecting to complete 400 test flights in 2024. Archer anticipates non-GAAP operating expenses of $75 million to $95 million for Q1 2024. Shares fell 6.91% after-hours to $4.58.
February 26, 2024 | 10:37 pm
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NEGATIVE IMPACT
Archer Aviation reported a larger Q4 loss than expected and shared updates on its Midnight aircraft, expecting significant progress in 2024. Shares dropped 6.91% after-hours.
The larger-than-expected Q4 loss and the after-hours share price drop indicate a negative short-term impact on ACHR's stock. However, the company's ongoing progress with its Midnight aircraft and future plans may mitigate long-term concerns.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100