Arq reports Q1 EPS 0c, consensus (2c)

Reports Q1 revenue $27.2M, consensus $26.26M. “Our Q1 results demonstrate that the PAC business transformation is ongoing and sustainable,” said CEO Bob Rasmus. “With our fourth consecutive quarter of positive Adjusted EBITDA and the recent signing of the second largest contract in company history, we have established a robust foundation capable of delivering double-digit millions in annual Adjusted EBITDA. This provides us with the stable platform needed to pursue our exciting growth opportunities in GAC and beyond. To this end, we’re thrilled to welcome Jay Voncannon as our new CFO…Strong customer demand persists across our end markets, and we continue to see opportunities to enhance profitability through customer diversification and operational efficiency improvements. While we’ve made significant progress commissioning our GAC facility at Red River, we continue to work through the final commissioning process fine tuning and testing related to product binding and shaping. While we have produced small, non-commercial volumes of GAC, we have yet to achieve the consistency needed for commercial-scale production. Given these challenges, we now expect to achieve commercial production by the end of Q2 or early Q3. While this timeline represents a delay from our previous guidance, I remain fully confident in our technology and our team’s ability to execute. Fundamentally, this is a decades-long opportunity, and we’re committed to getting it right.”