Loop Industries reports Q1 EPS (7c), consensus (7c)

Reports Q1 revenue $252,000, consensus $718,500. “We are encouraged by the progress of our off-take discussions with apparel and CPG brands for the Infinite Loop India facility. The low-cost structure of this facility positions us to offer our customers a superior product at highly competitive prices. We are confident that securing these agreements will not only enable us to meet our profitability and ROI targets, but also to generate the cash flow needed to drive our future capacity expansion,” said Daniel Solomita, founder and CEO of Loop. “Beyond our progress in India, we are equally excited about the forthcoming Infinite Loop Europe project. We intend to leverage our in-house expertise by providing comprehensive engineering services once the project site is identified. Furthermore, our adoption of a modular construction solution for this facility and future facilities will significantly enhance project profitability and returns, while accelerating the timing of project start-up and bringing our sustainable solutions to market even faster.”