Quest Resource Holding Corporation Announces Second Quarter 2024 Financial Results

Quest Resource Holding Corporation Announces Second Quarter 2024 Financial Results

For the quarterly period ended June 30, 2024, Quest Resource Holding Corporation (QRHC) reported its financial results, demonstrating both challenges and growth within key areas of its operations. Below is a summary of the company's financial performance.

Key Financial Metrics

Despite a slight decline in total revenue both quarter-over-quarter and year-over-year due to lower volumes from key customers, margins improved overall, and the company saw an uptick in Adjusted EBITDA, indicating stronger operational efficiency and demand from newly added customers. Earnings per Share decreased significantly on a quarterly basis but showed improvement when looking at year-to-date figures.

Revenue Performance by Segment

No specific revenue breakdown by segment was provided in the report.

Operational Data

No specific operational data was disclosed in the provided information.

Comments from Company Officers

The earnings report did not include specific comments from company officers.

Dividends or Share Repurchase Program

No announcements regarding dividends or share repurchase programs were provided in the earnings release information.

Forward Guidance

The earnings release did not provide forward guidance information.

Stock Price Movement Post-Earnings Release

Following the earnings release, QRHC's stock price saw an increase of approximately 2.10%.

In summary, Quest Resource Holding Corporation's Q2 2024 financial results highlight a slightly declining revenue trend offset by stronger profit margins and increased Adjusted EBITDA. The stock price responded positively, reflecting perhaps a market appreciation for the company's enhanced efficiency and new customer acquisitions despite broader economic challenges.