Arq Inc Stock Price, News & Analysis

Arq, Inc. (NASDAQ: ARQ), a producer of activated carbon and environmentally efficient carbon products, has announced a proposed public offering of common stock. The company intends to grant underwriters a 30-day option to purchase up to an additional 15% of shares. Proceeds will be used for general corporate purposes, including working capital, capital expenditures, and continued construction of granular activated carbon facilities at Red River and Corbin manufacturing sites.

Canaccord Genuity and Roth Capital Partners are acting as joint bookrunners for the offering. A shelf registration statement on Form S-3 has been filed with the SEC. The offering will be made through a written prospectus and prospectus supplement, available on the SEC's website.

Arq (NASDAQ: ARQ) reported its Q2 2024 financial results, showing significant improvements:Revenue increased 24% to $25.4 million, driven by higher average selling prices (ASP) and improved product mix. Gross margin improved to 32%, up from 25% in the prior year period. The company reported a net loss of $2.0 million, a substantial improvement from the $5.9 million loss in Q2 2023. Adjusted EBITDA was $0.5 million, compared to a $3.0 million loss last year.

Arq secured additional granular activated carbon (GAC) supply contracts, now representing 52% of Red River's expanded nameplate capacity. The company's strategic growth projects at Corbin and Red River remain on target, with first GAC deliveries expected in Q1 2025. Capital expenditure forecasts for 2024 remain at $60-$70 million.

Arq (NASDAQ: ARQ), a producer of activated carbon and environmentally efficient carbon products, has announced its participation in three upcoming investor conferences:

• Canaccord Genuity 44th Annual Growth Conference (August 13-14, 2024, Boston)
• H.C. Wainwright 26th Annual Global Investment Conference (September 9-11, 2024, New York)
• Gabelli Funds' 2nd PFAS Symposium (September 26, 2024, New York)

CEO Bob Rasmus will present at the Canaccord Genuity conference on August 13 at 4:15 p.m. EST. A live webcast will be available on Arq's investor relations website. Presentation materials for all conferences will be accessible at https://ir.arq.com/.

Arq, Inc. (NASDAQ: ARQ), a producer of activated carbon and environmentally efficient carbon products, has announced its upcoming second quarter 2024 financial results release and conference call. The company plans to release its Q2 2024 financial results and file its Quarterly Report on Form 10-Q after market close on August 12, 2024. A conference call to discuss the financial performance is scheduled for 9:00 a.m. Eastern Time on August 13, 2024.

Interested parties can access the conference call webcast through Arq's website or by registering online. The live call can also be accessed by dialing specific numbers. A supplemental investor presentation will be available on the company's website prior to the call. A replay of the event will be accessible via webcast or by dialing in, with the dial-in replay available until August 20, 2024.

Arq, Inc. (NASDAQ: ARQ) has secured additional contracted volume for its granular activated carbon (GAC) production at the Red River facility. Total contracted GAC demand now stands at 13 million pounds per annum, representing 52% of Arq's expanded nameplate capacity of 25 million pounds per annum. This milestone has been achieved roughly six months ahead of first production, scheduled for year-end 2024. The pricing for GAC contracts remains attractive, representing a multiple of the company's average powdered activated carbon (PAC) pricing.

The Red River facility expansion project is progressing as planned, with a capital requirement of $60-70 million in 2024. Arq's CEO, Bob Rasmus, expressed confidence in the company's ability to fully contract its nameplate capacity before production begins, citing strong market recognition for their superior products and environmental technology.

Arq announced its inclusion in the Russell 3000® and Russell 2000® indexes, effective July 1, 2024. CEO Bob Rasmus emphasized that this milestone showcases the company's successful growth strategies and transformation into an environmental technology firm. The Russell US Indexes' annual reconstitution captures the 4,000 largest US stocks, ranked by market capitalization as of April 30. Membership in the Russell 3000® Index ensures Arq's inclusion in related large-cap or small-cap indexes for one year, enhancing its visibility among investors. Russell indexes, managed by FTSE Russell, are benchmarks for $10.5 trillion in assets.

Pinnacle West Capital Corp. (NYSE: PNW) announced the appointment of three new board members: Ronald Butler Jr., Carol S. Eicher, and Susan T. Flanagan, effective July 1, 2024. Butler, a managing partner at EY, brings 32 years of diverse management experience. Eicher, with over 30 years in global manufacturing and operations, joins the Audit and Nuclear & Operating committees. Flanagan, an energy and renewables expert, joins the Audit and Finance committees. These additions increase the number of directors from nine to 12, of which 11 are independent. Pinnacle West aims to leverage their expertise to enhance strategy and operations in the evolving energy landscape.

Arq has secured a new contract for 4 million pounds of Granular Activated Carbon (GAC) annually, beginning January 2025. This follows a previous 5 million pound per year contract announced in May 2024. Combined, these contracts utilize 36% of the Red River facility's 25 million pounds per year capacity, set to come online by year-end 2024. Arq's latest deal targets air purification markets, highlighting industry confidence in their GAC solutions. CEO Bob Rasmus emphasized the importance of these agreements in meeting market demand and advancing their environmental technology. Conversations with potential customers are ongoing, with expectations to fully contract capacity before production begins.

Arq has published its inaugural Environmental, Social, and Governance (ESG) Overview, marking a significant step in its transition to an environmental technology company. The overview outlines initiatives in employee well-being, sustainable products, environmental stewardship, and corporate governance. Key highlights include Arq’s focus on employee safety and satisfaction, development of sustainable products using bituminous coal waste, and efforts in energy and waste management. The full ESG report is expected in the second half of 2024. This publication underscores Arq's commitment to maximizing shareholder value and driving positive change for stakeholders.