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.