Dmc Global ( (BOOM) ) has released its Q3 earnings. Here is a breakdown of the information Dmc Global presented to its investors.
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DMC Global Inc., based in Broomfield, Colorado, owns and operates asset-light manufacturing businesses that provide highly engineered products and solutions, with key operations in architectural building products, energy, and industrial sectors.
DMC Global reported a challenging third quarter of 2024, with total sales of $152.4 million marking an 11% decline both sequentially and year-over-year. The company also faced a significant net loss of $159.4 million, primarily due to a $141.7 million non-cash goodwill impairment charge at its Arcadia Products division.
Key financial metrics revealed a $9.6 million adjusted net loss attributable to DMC, translating to a loss of $0.49 per share. Adjusted EBITDA attributable to DMC was $5.7 million, showing a steep decrease of 71% sequentially and 77% from the previous year. The company’s energy division, DynaEnergetics, experienced a decline in U.S. well completions, while Arcadia faced challenges from high interest rates affecting luxury home sales. NobelClad, however, maintained solid performance with a 23% adjusted EBITDA margin.
Looking forward, DMC Global management anticipates ongoing market difficulties but expresses optimism in strategic initiatives aimed at improving operational efficiencies and product offerings. The company projects fourth-quarter consolidated sales between $138 million to $148 million, alongside adjusted EBITDA of $5 million to $8 million.
