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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.
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Quest Resource Holding Corporation (NASDAQ: QRHC) reported a strong performance for Q4 2022, with revenues of $62.3 million, up 34.2% from Q4 2021. Gross profit increased 25.0% to $10.8 million, but gross margin declined to 17.3%. The company posted a GAAP net loss per share of $(0.17), compared to $(0.03) in the same quarter last year. For the full year, revenue reached $284.0 million, an 82.4% increase, while gross profit rose 70.2% to $48.9 million. The anticipated process improvements from the RWS acquisition are expected to enhance future performance as the company remains confident in its growth trajectory.
Quest Resource Holding Corporation (QRHC) will release its fourth quarter and fiscal year results for the period ending December 31, 2022, on March 23, 2023, after market close. A conference call led by CEO Ray Hatch and CFO Brett Johnston will follow at 5:00 PM ET to discuss the financial results and future outlook. Investors can access the call at 1-855-327-6837 or via a listen-only webcast on Quest's investor relations website. The webcast will be archived for 90 days, and a telephonic playback will be available starting March 23 through April 6.
Quest Resource Holding Corporation (NASDAQ: QRHC) reported strong financial results for the third quarter of 2022, with revenue reaching $73.4 million, a 96.3% increase from the previous year. Gross profit rose by 77.8% to $12.2 million, while Adjusted EBITDA surged by 56.9% to $3.8 million. However, the company recorded a GAAP net loss of $(1.7) million, or $(0.09) per share, contrasting with a profit of $386,000 in Q3 2021. Year-to-date revenue stands at $221.8 million, reflecting a 102.9% increase year-over-year.
Quest Resource Holding Corporation (Nasdaq: QRHC) will be represented by CEO Ray Hatch and CFO Brett Johnston at the Southwest IDEAS Investor Conference on November 16, 2022, at the Westin Dallas Downtown. Their presentation is set to commence at 1:30 am CST and will be available via webcast on the conference's website and Quest's investor relations page. The IDEAS Conferences aim to connect high-quality companies with investors, providing a platform sponsored by investment professionals to enhance regional investment communities.
Quest Resource Holding Corporation (NASDAQ: QRHC) will release its third quarter results for the period ending September 30, 2022, on November 14, 2022, after market close. The company's leadership, including CEO Ray Hatch, will host a conference call at 5:00 PM ET on the same day to discuss financial results and future outlook. Interested investors can join via telephone or through a webcast available on Quest's investor relations page. The archived webcast will be accessible for 90 days, providing insights into the company's performance and strategic direction.
Quest Resource Holding Corporation (NASDAQ: QRHC) announced the appointment of Brett Johnston as Senior Vice President and Chief Financial Officer, effective November 1, 2022. Johnston has nearly 20 years of experience, primarily at Arcosa, where he led financial strategy and M&A initiatives. CEO Ray Hatch highlighted Johnston's extensive financial and strategic experience as crucial for maintaining Quest's service leadership and profitability. Johnston is enthusiastic about contributing to Quest's growth and sustainability initiatives, leveraging the company's asset-light business model and national platform.
Quest Resource Holding Corporation (NASDAQ: QRHC) reported significant financial growth for the second quarter ended June 30, 2022. Revenue surged to $76.9 million, a 108.7% increase year-over-year. Gross profit also saw a remarkable rise, reaching $14.7 million (up 115.4%). Though GAAP net income per diluted share was $0.05 compared to $0.03 in Q2 2021, year-to-date GAAP net loss stood at $(0.05). Adjusted EBITDA for the quarter was $6.6 million, reflecting a 161.3% increase. The company continues to focus on operational efficiencies and expects ongoing growth from acquisitions.