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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.
Atar Capital has reached a definitive agreement to sell RWS Facility Services to Quest Resource Holding Corporation (NASDAQ: QRHC), a leader in environmental waste and recycling services. RWS, headquartered in Chadds Ford, Pennsylvania, offers managed solutions for waste management and recycling, serving blue-chip clients across various sectors. Under Atar's ownership since September 2017, RWS has seen growth in revenue and profitability, enhancing its service offerings and customer base. The sale marks a strategic move for Quest to expand its capabilities in facility management services.
Quest Resource Holding Corporation (Nasdaq: QRHC) has acquired two waste services businesses, RWS Facility Services and InStream Environmental, for approximately $44 million. These acquisitions are projected to boost annual revenue and adjusted EBITDA by over 50%. The deal aims to enhance Quest's presence in the industrial and commercial property management sectors. Additionally, Quest has amended its credit facilities to $75 million, reducing borrowing costs significantly. CEO S. Ray Hatch emphasized the strategic importance of customer loyalty and growth through these transactions.
Quest Resource Holding Corporation (NASDAQ: QRHC) reported its third-quarter financial results for 2021, showing a significant revenue increase of 57.7% year-over-year, totaling $37.4 million. Gross profit also rose by 50.4% to $6.9 million, with a gross margin of 18.3%. The company achieved a net income of $0.02 per share, compared to a loss in the same quarter of 2020. Year-to-date revenue reached $109.3 million, reflecting a 54.0% increase. Adjusted EBITDA for the quarter was $2.5 million, a 147.8% increase.
Quest Resource Holding Corporation (Nasdaq: QRHC) has acquired assets from an independent environmental services company in Kentucky for $2.15 million, to be paid in cash and deferred compensation. The acquired assets, primarily customer contracts, generated approximately $0.4 million in operating income and EBITDA during the trailing twelve months ending June 30, 2021. The acquisition aligns with Quest's customer-first approach, aiming to increase service capabilities and enhance value for the client base.
Quest Resource Holding Corporation (Nasdaq: QRHC) announced that CEO Ray Hatch and CFO Laurie Latham will present at the Southwest IDEAS Investor Conference on November 18, 2021. The event will take place at the Westin Dallas Downtown, starting at 8:45 am CST. The presentation will be webcasted and accessible via the conference website and Quest's investor relations page. IDEAS Conferences provide a platform for quality companies to present to investment professionals, with sponsors managing over $200 billion in assets.
Quest Resource Holding Corporation (NASDAQ: QRHC) announced it will release its third quarter results on November 15, 2021, after market close. The company's President and CFO will host a conference call the same day at 5:00 PM ET to discuss financial results and future outlook. Investors can join via phone or listen online. The company provides waste and recycling services, helping clients achieve their environmental and sustainability goals. For further information, visit www.qrhc.com.
Quest Resource Holding Corporation (NASDAQ: QRHC) reported strong financial results for Q2 2021, achieving revenue of $36.9 million, reflecting a 67.8% increase year-over-year. Gross profit improved to $6.8 million (+55.7%), while gross margin slightly declined to 18.5%. GAAP net income per share fell to $0.04, down from $0.08 in Q2 2020 due to prior PPP Loan income. Year-to-date results also showed significant growth, with revenue at $72.0 million (+52.1%) and adjusted EBITDA at $5.1 million (+206.8%). CEO S. Ray Hatch cited organic growth and successful acquisitions as key drivers.
Quest Resource Holding Corporation (Nasdaq: QRHC) will present at the virtual East Coast IDEAS Investor Conference on August 25, 2021. Ray Hatch, CEO, and Laurie Latham, CFO, will participate, with their presentation available at 7:00 am CST. Interested attendees can access the presentation via the conference website or the investor relations section of Quest's site. The IDEAS Conferences aim to connect quality companies with investment professionals, fostering regional investment communities.
Quest Resource Holding Corporation (NASDAQ: QRHC) will release its second quarter results for the period ended June 30, 2021, on August 16, 2021, after market close. A conference call is scheduled for the same day at 5:00 PM ET, where CEO Ray Hatch and CFO Laurie Latham will discuss the financial results and business outlook. Investors can participate by dialing 1-800-289-0438 (U.S.) or 1-323-794-2423 (internationally) using conference ID 9502783. The call will be accessible via the company's investor relations website and archived for 90 days.
Quest Resource Holding Corporation (Nasdaq: QRHC) has elected Glenn A. Culpepper to its Board of Directors as of July 7, 2021. Culpepper brings over 35 years of financial expertise, having held senior roles in various companies within the environmental services, construction materials, and mining sectors. His prior experience includes Chief Financial Officer roles at Republic Services and Summit Materials. Quest anticipates that Culpepper's industry knowledge and financial skills will enhance its strategic growth and shareholder value initiatives.