Arq Inc Stock Price, News & Analysis

Arq (NASDAQ: ARQ) provided an update on its Granular Activated Carbon (GAC) project, confirming that initial production at the Red River facility remains on schedule for Q1 2025. The company expects to reach full production capacity of 25 million pounds annual run-rate in H2 2025.

Commercial discussions for GAC are progressing with PFAS-related, biogas, and industrial customers, with early pricing indicating strong opportunities. The company is strategically timing contract commitments to align with production ramp-up in H2 2025.

Capital expenditures for Q4 2024 exceeded expectations, bringing the full-year 2024 GAC project capex to approximately $80 million. The increase was attributed to additional professional services and piping needs. Arq has initiated legal proceedings against its design firm for alleged negligence and contract breaches, seeking damages for increased costs and delays.

Arq (NASDAQ: ARQ) has successfully closed a $30 million asset-based revolving credit facility with MidCap Financial. The facility will be used to refinance Arq's outstanding CF Global Term Loan, fund growth capital expenditures, and support working capital requirements at its Red River plant.

The facility allows Arq to draw up to $30 million based on 85% of eligible accounts receivable and 85% of eligible inventory's net orderly liquidation value. The five-year term facility carries an interest rate of Adjusted Term SOFR + 4.50%, with a SOFR floor of 2.5%. According to CEO Bob Rasmus, this facility enhances financial flexibility while reducing capital costs to better align with the company's current business position.

Arq (NASDAQ: ARQ) reported strong Q3 2024 results with revenue of $34.8 million, up 17% year-over-year, driven by higher average selling prices and improved product mix. The company achieved a gross margin of 38.6%, an 800 basis point improvement from the prior year. Net income reached $1.6 million, a significant improvement from a $2.2 million loss in Q3 2023. The company raised approximately $27 million in equity during September 2024, bringing total year-to-date equity raised to $42 million. The Red River GAC facility remains on track for first deliveries in Q1 2025, with potential to increase nameplate capacity by 10-20% without additional capital expenditure.

Arq (NASDAQ: ARQ), a producer of activated carbon and environmentally efficient carbon products, has released its first-ever Environmental, Social, and Governance (ESG) Report. The report builds on the company's 2023 ESG Overview Tear Sheet and provides a comprehensive assessment of Arq's efforts in environmental impact, employee well-being, and responsible governance.

Key highlights include:

• Environmental Impact: Arq's proprietary process reclaims and recycles waste coal fines, enhancing water quality and prioritizing water efficiency.
• Social Responsibility: Safety is a core value, and the company fosters an inclusive culture with team-building activities.
• Governance: Arq is committed to high standards of corporate governance, with a multi-functional team overseeing the ESG program.

The full 2023 ESG Report is available on Arq's Sustainability Page, reinforcing the company's mission to drive environmental innovation through responsible practices.

Arq (NASDAQ: ARQ), a producer of activated carbon and environmentally efficient carbon products, has announced the pricing of a public offering of 4,770,000 shares of common stock at $5.25 per share. The offering, expected to close around September 23, 2024, aims to raise approximately $25 million in gross proceeds. Arq has also granted underwriters a 30-day option to purchase up to an additional 715,500 shares.

The company plans to use the net proceeds for general corporate purposes, including working capital, capital expenditures, research and development, commercial expenditures, debt service, and potential acquisitions. Specifically, funds may be directed towards the continued construction of granular activated carbon facilities at Arq's Red River and Corbin manufacturing facilities in Louisiana and Kentucky, respectively.

Canaccord Genuity and Roth Capital Partners are acting as joint bookrunners for the offering. The offering is being made through a shelf registration statement and prospectus filed with the SEC.

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.