Perimeter Solutions, Sa ( (PRM) ) has released its Q3 earnings. Here is a breakdown of the information Perimeter Solutions, Sa presented to its investors.
Perimeter Solutions, SA, a prominent provider of firefighting products and specialty chemicals, operates in the fire safety and specialty chemicals sectors, focusing on mission-critical products and services globally. The company reported a significant increase in net sales for the third quarter of 2024, driven by a robust performance in both its Fire Safety and Specialty Products segments. Despite the impressive sales growth, Perimeter Solutions reported a net loss for the quarter due to substantial operating expenses, including founders advisory fees.
In the third quarter of 2024, Perimeter Solutions achieved a remarkable 102% increase in net sales, reaching $288.4 million, with substantial growth in both the Fire Safety and Specialty Products divisions. Fire Safety sales surged by 113%, while Specialty Products sales increased by 50%. However, the company faced a net loss of $89.2 million, attributed to significant operating expenses, despite an impressive 177% rise in adjusted EBITDA to $170.4 million.
Over the year-to-date period, Perimeter Solutions maintained strong sales momentum with an 81% increase to $474.7 million. The Fire Safety segment was a major contributor, with sales up 97%. However, the company recorded a net loss of $150.1 million for the period, influenced by high operating expenses, including advisory fees. Adjusted EBITDA rose significantly by 189%, reflecting operational efficiencies.
Looking ahead, Perimeter Solutions remains committed to capital and operational investments to support its customers’ missions, backed by a solid cash position and manageable net leverage. The company’s management is optimistic about sustaining growth and enhancing operational efficiencies, positioning Perimeter Solutions for continued success in the firefighting and specialty chemicals markets.
