Arq reports Q3 EPS (2c), may not compare to consensus 2c

Reports Q3 revenue $35.1M, consensus $35.63M. “Achieving the first commercial GAC production and sales at Red River represents a major milestone for Arq (ARQ), our customers and our shareholders,” said Bob Rasmus, CEO of Arq. “This accomplishment, combined with our PAC business continuing to exceed operational and financial expectations, demonstrates significant progress in our transformation and validates our strategic direction. Our PAC turnaround has continued to exceed expectations, with a more than $25M adjusted EBITDA improvement since September 2023 on a trailing twelve-month basis, providing a strong foundation to help fund our growth initiatives and capitalize on the exceptional GAC market opportunity ahead. Offsetting this performance was several million dollars of inefficiencies driven by low, early-ramp GAC volumes, which served as a material offset to margins and adjusted EBITDA during the third quarter.”