Dmc Global Inc Stock Price, News & Analysis

DMC Global Inc. (Nasdaq: BOOM) will announce its third quarter financial results for 2020 after market close on October 22, 2020. Management will host a conference call at 5 p.m. Eastern Time, accessible by phone and via live webcast. A replay of the call and webcast will also be available for a limited time. DMC Global operates in niche industrial and commercial markets, emphasizing innovative solutions and strategic growth for its portfolio companies, including DynaEnergetics and NobelClad.

DynaEnergetics, a unit of DMC Global (Nasdaq: BOOM), has launched Igneo, an Intrinsically Safe initiating system designed for high-temperature mining applications. Developed in collaboration with Newcrest Mining, the Igneo system, featuring the HTD150 electronic detonator, is capable of withstanding temperatures up to 150°C for 48 hours. This innovative solution enhances safety and efficiency, particularly for operations in the extreme conditions of the Lihir mine in Papua New Guinea. The introduction of Igneo marks a strategic expansion for DynaEnergetics into the mining sector.

DMC Global Inc. (Nasdaq: BOOM) has promoted Antoine Nobili to president of NobelClad, its composite metals business. With 25 years at NobelClad, including 11 years as managing director of European operations, Nobili has a proven track record in product development and operational leadership. Kevin Longe, DMC's CEO, praised Nobili's leadership and contributions to the company's growth. Nobili expressed confidence in NobelClad's future, citing a strong culture of safety and a compelling growth strategy. The promotion emphasizes DMC's commitment to fostering internal talent.

DMC Global Inc. (Nasdaq: BOOM) has announced the election of Michael A. Kelly as an independent director. Mr. Kelly brings significant experience from his tenure at Amgen, where he held various leadership positions, including senior vice president of Global Business Services. His track record includes overseeing major acquisitions and international operations, which is expected to enhance DMC’s growth strategy. Kevin Longe, CEO, praised Kelly's innovative leadership and financial expertise, indicating that his contributions will support the company’s long-term objectives.

DMC Global Inc. (Nasdaq: BOOM) reported Q2 2020 sales of $43.2 million, a decline of 41% sequentially and 61% year-over-year due to decreased oil and gas demand amid the Covid-19 pandemic. Gross margin was 15%, down from 33% in Q1 2020. The operating loss was $8.0 million compared to an operating income of $24.7 million in Q2 2019. The net loss was $5.6 million or $0.38 per diluted share. Adjusted EBITDA was negative $1.8 million. Despite a challenging environment, net cash improved to $4.5 million from $2.9 million at the end of March 2020.

DMC Global Inc. (Nasdaq: BOOM) will release its 2020 second quarter financial results on July 23, 2020, post-market close. Following the release, management will host a conference call at 5 p.m. Eastern, accessible via phone or webcast. Investors can listen live through provided links. A replay of the call will be available until August 6, 2020. DMC Global is a diversified holding company focused on niche industrial markets, supporting its companies' growth through strategic resources.

DynaEnergetics, a division of DMC Global (Nasdaq: BOOM), has launched two innovative well-perforating products: DS MicroSet and DS Liberator. These products aim to increase the company's addressable market by 20% in North America's unconventional oil and gas sector. The DS MicroSet is a compact, disposable tool for setting plugs in multi-stage wells, while the DS Liberator facilitates safe disengagement of stuck perforating strings. Both tools enhance safety, performance, and profitability by reducing operational complexities and inventory needs.

DMC Global (Nasdaq: BOOM) announced an amendment to its credit agreement to gain covenant flexibility amid a significant downturn in the oil and gas sector due to the Covid-19 pandemic. The amendment includes a waiver of the debt service coverage ratio until Q1 2021, allowing the company to maintain an undrawn $50 million revolving credit facility. Despite a reduction in capital expenditures and suspension of its dividend, DMC aims to focus on innovation and market development during this challenging period.

DynaEnergetics, a subsidiary of DMC Global, has upgraded its IS2 TF Intrinsically Safe initiating system, enhancing its capacity to deploy up to 100 DS Factory-Assembled, Performance-Assured™ well perforating systems per single plug and perf string, compared to the previous maximum of 40. This solid-state system, designed without wires, mitigates common failure points and offers greater flexibility in well completion designs. Notably, this upgrade does not affect pricing or require additional hardware, aligning with DynaEnergetics' commitment to innovation and enhancing customers' operational safety and profitability.