Press release
DMC Global Reports Second Quarter Financial Results
Second quarter sales were $171.2 million, up 3% sequentially and down 9% vs. Q2 2023Net income was $6.3 million, while net income attributable to DMC was $4.0
About this update from Dmc Global Inc.
[{"type":"text","content":"Second quarter sales were $171.2 million, up 3% sequentially and down 9% vs. Q2 2023Net income was $6.3 million, while net income attributable to DMC was $4.0 millionAdjusted net income attributable to DMC* was $5.7 million, or $0.29 per diluted shareAdjusted EBITDA* attributable to DMC was $19.4 million, up 16% sequentially and down 39% vs. Q2 2023Total adjusted EBITDA, inclusive of non-controlling interest (NCI), was $24.4 million, or 14.3% of sales BROOMFIELD, Colo., Aug. 01, 2024 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) today reported financial results for its second quarter ended June 30, 2024. “All three of our businesses delivered on key financial and operational objectives during the second quarter,” said Michael Kuta, president and CEO. “These accomplishments led to consolidated sales and adjusted EBITDA that were above the high end of our guidance.” “We made significant progress at Arcadia, our architectural building products business,” Kuta added. “While construction spending across its key markets remains weak, Arcadia’s sales of $69.7 million were better than anticipated, reflecting solid execution by the entire Arcadia organization. “Arcadia’s sales results, combined with ongoing efforts to improve operational efficiencies and streamline its cost structure, helped fuel a significant rebound in margins. Second quarter gross margin of 33.2% was up 600-basis-points versus the first quarter and approached the 34.7% reported in last year’s second quarter, when Arcadia delivered its strongest gross margin since its December 2021 acquisition by DMC. Adjusted EBITDA margin was 17.8% as compared with 9.5% in the first quarter, and 20.8% in the year-ago second quarter.” Second quarter sales at DynaEnergetics, DMC’s energy products business, were $76.2 million, down 2% sequentially and down 10% versus last year’s second quarter. The declines reflect softer demand in Dyna’s core U.S. onshore market, where well completions fell 4% sequentially following a 7% sequential drop in the first quarter, according to the U.S. Energy Information Administration. Adjusted EBITDA margins were 11.5% versus 13.5% in the first quarter and 23.0% in the year-ago second quarter. “We expect well completions will remain soft during the second half of 2024, and Dyna has adjusted its cost structure to align with anticipated activity levels,...