Dmc Global Inc Stock Price, News & Analysis

DMC Global Inc. (Nasdaq: BOOM) announced that a jury in Texas ruled that Hunting Titan, Inc. and Hunting Energy Services, Inc. did not infringe on DynaEnergetics' U.S. Patent No. 10,429,161 but upheld the patent's validity. DynaEnergetics expressed disappointment in the ruling but acknowledged the patent's significance in well perforating technology. CEO Ian Grieves emphasized their commitment to technological innovation and IP protection. DynaEnergetics is evaluating its appellate options while maintaining a leadership role in the global perforating industry.

DMC Global Inc. (Nasdaq: BOOM) announced the immediate resignation of Kevin Longe as president and CEO. CFO Michael Kuta and Chairman David Aldous will serve as interim co-CEOs while Kuta postpones retirement to aid in the transition. The board will collaborate with an executive search firm for a permanent CEO. DMC updated its Q4 2022 sales guidance to $173-$175 million, up from prior guidance of $158-$168 million, and expects adjusted EBITDA at the higher end of $15-$18 million. The leadership is focused on enhancing profitability, accelerating integration of Arcadia, and improving cash flow.

DMC Global Inc. (Nasdaq: BOOM) has appointed James Chilcoff as president of Arcadia, succeeding James Schladen, who is retiring after 24 years. Chilcoff brings extensive experience from his role at Mohawk Industries, where he achieved significant growth and profitability. His leadership is anticipated to enhance operational efficiencies and drive growth in Arcadia's commercial and residential sectors. Schladen will remain a senior advisor and board member, ensuring continuity during the transition.

DMC Global reported Q3 2022 sales of $174.5 million, up 5% sequentially and 160% year-over-year. Excluding Arcadia, sales were $93.8 million, a 40% increase from last year. The consolidated gross margin decreased to 29%, while net income attributable to DMC was $6.7 million, translating to $0.46 per diluted share. DynaEnergetics and Arcadia reported strong demand, with significant sales increases. However, the outlook for Q4 includes lower projected sales and gross margins due to market conditions. Adjusted EBITDA for Q3 was $21.8 million, down 3% from Q2.

DMC Global Inc. (BOOM) will announce its third-quarter financial results on November 3, 2022, after market close. Following the announcement, a conference call will be held at 5 p.m. Eastern Time, accessible via phone and webcast. Investors can listen live and access a replay through the company’s website, which operates in niche segments of the energy and building products industries. The firm focuses on supporting well-run businesses with strategic and financial resources to fuel growth and market expansion.

DynaEnergetics has launched the IS2 Xpress, an advanced well perforating system that significantly enhances efficiency and safety. This upgrade to the IS2 TF system allows operations to perforate a well stage with 20 systems in about five minutes—a 165% improvement—while 50 systems can be completed in ten minutes, marking a nearly 420% increase in speed. The system also includes smart features for detecting downhole issues and recording events to improve troubleshooting. This innovation aims to provide users with a competitive edge in oil and gas operations.

DMC Global Inc. (Nasdaq: BOOM) announced the retirement of Chief Financial Officer Michael Kuta, effective March 2023. Kuta has been with the company for over eight years, contributing significantly to its transformation, including restructuring global businesses and modernizing manufacturing infrastructure. The company is actively searching for his successor with the assistance of an executive recruiting firm. Kuta expressed pride in his achievements and commitment to a smooth transition.

DMC Global reported impressive Q2 2022 results with sales of $165.8 million, a 20% sequential increase and 153% year-over-year growth. Excluding Arcadia, sales rose to $89.4 million. Gross margin improved to 31%, and net income attributable to DMC was $5.6 million, translating to $0.20 per diluted share. Adjusted EBITDA reached $22.4 million, marking a 113% sequential rise. However, cash and equivalents decreased to $11.8 million. Guidance for Q3 2022 expects sales between $155 million and $163 million.

DMC Global Inc. (Nasdaq: BOOM) will announce its 2022 second quarter financial results on August 4, 2022, after market close. A conference call will follow at 5 p.m. Eastern, accessible via phone and webcast. A replay of the call will be available until August 11, 2022. DMC Global operates in niche segments across energy and industrial infrastructure sectors, focusing on supporting well-managed businesses for growth. Its current portfolio includes Arcadia Inc., DynaEnergetics, and NobelClad, aiming to enhance competitive positions and expand market reach.