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Quest Resource Holding Corporation provides national waste and recycling services for larger, multi-location businesses. The company builds client-specific programs for collection, processing, recycling, disposal and tracking of waste streams and recyclables, and supplies data used to report environmental results and improve operations.
Company updates focus on quarterly earnings, industrial and non-industrial volume trends, gross profit and cash flow, new customer onboarding, wallet-share expansions with existing customers, restaurant and retail client activity, operational excellence initiatives, and debt management through repayments, credit-facility refinancing and covenant amendments.
Quest Resource Holding (Nasdaq: QRHC) reported financial results for Q2 2024. Despite a 1.8% decrease in revenue to $73.1 million, the company maintained flat gross profit at $13.5 million and improved gross margin to 18.5%. QRHC reported a GAAP net loss of $(1.5) million, or $(0.07) per share. Adjusted EBITDA slightly increased to $5.1 million.
The company remains on track for double-digit growth in gross profit and adjusted EBITDA during 2024 and 2025. QRHC secured significant new client wins and multiple program expansions with existing clients. Notable achievements include onboarding seven new clients, signing three expansion agreements, and being added to the Russell 2000 and 3000 Indexes.
Quest Resource Holding (NASDAQ: QRHC) has announced it will release its second quarter 2024 financial results on Thursday, August 8, 2024, after market close. The company, a national leader in environmental waste and recycling services, will host an earnings call the same day at 5:00 PM ET.
President and CEO Ray Hatch, along with Senior VP and CFO Brett Johnston, will lead the conference call to review Quest's financial results and business outlook. Investors can participate by dialing 1-800-717-1738 or 1-646-307-1865. A listen-only webcast will also be available on the investor relations section of Quest's website at http://investors.qrhc.com/.
Quest Resource Holding (NASDAQ: QRHC) announced its inclusion in the Russell 3000® Index, effective July 1, 2024. The Russell indexes annual reconstitution, based on market capitalization, captured the 4,000 largest US stocks as of April 30, 2024. Quest will also join the Russell 2000®, Russell 2500™, and Russell Small Cap Completeness® indexes. CEO S. Ray Hatch credited this milestone to the team's dedication to customer service and operational performance. Russell indexes are significant benchmarks, with $10.5 trillion in assets benchmarked as of December 2023.
Quest Resource Holding (NASDAQ: QRHC) has appointed Perry W. Moss as Chief Revenue Officer. Moss, who joined Quest nine months ago as Senior VP of Sales and Business Development, brings over 30 years of experience. He has successfully secured a record number of new clients, with two expected to generate eight figures in annual revenue. Moss's new role will focus on revenue growth through client acquisition, strategic partnerships, and new service solutions. CEO S. Ray Hatch emphasized Moss's value in driving sustainable waste management solutions. Moss expressed his commitment to leveraging Quest's strengths to build profitable revenue streams.
Quest Resource Holding (Nasdaq: QRHC), a national leader in environmental waste and recycling services, will present at the 14th Annual East Coast IDEAS Investor Conference on June 13th in New York, NY.
CEO Ray Hatch and CFO Brett Johnston will represent Quest, with their presentation scheduled for 10:00 AM ET. This presentation will be webcast and accessible through both the conference host's website and Quest's investor relations section.
Quest Resource Holding (NASDAQ: QRHC) reported financial results for the first quarter of 2024, with revenue at $72.7 million, a 2.0% decrease from 2023. However, gross profit increased by 11.1% to $14.0 million. The company achieved a record number of new client wins, leading to significant revenue growth opportunities. Quest's differentiated value proposition and strategic expansion efforts have resulted in positive financial performance, with adjusted EBITDA at $5.1 million, a 28.4% increase from the previous year.
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