Business
Quest Resource Holding Corporation Announces Strong Preliminary Fourth Quarter 2021 Financial Results
Expected Q4 Revenue and Gross Profit Growth Exceeds 50% Full Financial Results and Earnings Conference Call to be held on Thursday, March 17, 2022 THE COLONY,
About this update from Quest Resource Holding Corporation
[{"type":"text","content":"Expected Q4 Revenue and Gross Profit Growth Exceeds 50% Full Financial Results and Earnings Conference Call to be held on Thursday, March 17, 2022 THE COLONY, Texas, March 10, 2022 (GLOBE NEWSWIRE) -- Quest Resource Holding Corporation (Nasdaq: QRHC) (\"Quest\" or the “Company”), a national leader in environmental waste and recycling services, today reported preliminary unaudited consolidated financial results for the fourth quarter ended December 31, 2021. Fourth Quarter 2021 Highlights Preliminary unaudited revenue for the fourth quarter of 2021 is expected to be approximately $46 million, representing more than 65% growth versus the same quarter in the prior year.Preliminary unaudited gross profit for the fourth quarter of 2021 is expected to be approximately $8.7 million, representing more than 55% growth versus the same quarter in the prior year.Preliminary unaudited net loss for the fourth quarter of 2021 is expected to be approximately $550,000. The fourth quarter included approximately $1.2 million of acquisition, integration, and related costs.Preliminary Adjusted EBITDA1 for the fourth quarter of 2021 is expected to be approximately $3.2 million, representing more than 79% growth versus the same quarter in the prior year. These preliminary unaudited results are based on management’s initial analysis of operations for the year ended December 31, 2021 and are subject to change. “Our team delivered an outstanding finish to 2021, resulting in strong organic and acquisition related growth, and an even greater improvement in profitability,” said Quest President and Chief Executive Officer S. Ray Hatch. “We enter 2022 with continued strength in demand for our services, greater scale, and diversification among customers and end markets.” As previously announced, the Company is scheduled to participate in a fireside chat on Monday, March 14, 2022 at 11:30 AM PT at the 34th Annual Roth Capital Conference. The fireside chat will be webcast and may be accessed from the Investor Relations section of the Company's website at http://investors.qrhc.com. Earnings Conference Call details:The Company is scheduled to release the full results for its fourth quarter and year ended December 31, 2021 on Thursday, March 17, 2022, after market close. Ray Hatch, President and Chief Executive Officer, and Laurie Latham, Chief Financial Officer, w...