Quest Resource Holding Corporation (QRHC) Q3 2024 Earnings Call Transcript
Earnings Call Overview: Quest Resource Holding Corporation held its Q3 2024 earnings call on November 7, 2024, where executives discussed the company's performance and future outlook while cautioning about the risks associated with forward-looking statements.
Forward-Looking Statements Disclaimer: The company emphasized that any predictions made during the call are based on current expectations and involve significant uncertainties, advising stakeholders to refer to SEC filings for a detailed understanding of potential risks.
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Quest Resource (QRHC) Q3 Report: Key Insights Before Earnings Release
Earnings Report Expectations: Quest Resource is set to report earnings, with analysts expecting a revenue decline of 17.8% year-on-year to $59.83 million and an adjusted loss of -$0.01 per share.
Recent Performance: The company missed revenue expectations by 17.9% last quarter, and has missed Wall Street's revenue estimates twice since going public, indicating ongoing challenges.
Peer Comparisons: Competitors in the waste management sector, such as Montrose and Waste Connections, have reported positive revenue growth, contrasting with Quest Resource's struggles.
Investor Sentiment: Despite recent performance issues, Quest Resource's stock has risen 10.5% over the past month, with an average analyst price target of $3.08 compared to its current price of $1.47.
PureCycle Technologies, Inc. (PCT) Announces Q3 Loss and Falls Short of Revenue Projections
Quarterly Performance: PureCycle Technologies reported a quarterly loss of $0.44 per share, significantly worse than the expected loss of $0.25, marking a 76% earnings surprise. Revenue for the quarter was $2.43 million, missing estimates by over 50%.
Stock Outlook: The company's stock has underperformed compared to the S&P 500, gaining only 0.7% since the start of the year. Current consensus estimates predict a loss of $0.20 per share for the next quarter.
Earnings Estimate Revisions: The trend for earnings estimate revisions for PureCycle Technologies is mixed, resulting in a Zacks Rank of #3 (Hold), indicating expected performance in line with the market.
Industry Context: The Waste Removal Services industry, where PureCycle operates, ranks in the top 33% of Zacks industries, suggesting that industry performance could significantly influence the stock's future.
What To Expect From Quest Resource’s (QRHC) Q2 Earnings
Earnings Report Expectations: Quest Resource is set to report earnings, with analysts expecting flat revenue of $72.56 million and adjusted earnings of $0.02 per share, following a previous quarter where they missed revenue expectations by 5%.
Market Context: While Quest Resource's stock has risen 8.7% recently, peers in the waste management sector like Montrose and Waste Connections have shown strong growth, indicating a mixed outlook for the industry ahead of Quest's earnings announcement.
Quest Resource Holding Corporation Finalizes Sale of Non-Core Portion of RWS Business
Sale of Non-Core Business: Quest Resource Holding Corporation has sold its tenant-direct portion of the RWS commercial property management business to Lincoln Waste Solutions for approximately $5 million, allowing the company to focus on its core portfolio and improve financial performance.
Strategic Focus on Growth: The sale is part of Quest's strategy to enhance profitability and operational efficiency while providing cash to pay down debt, as emphasized by the company's leadership during recent earnings discussions.
Thursday Sector Laggards: Waste Management, Apparel Stores
Apparel Stores Performance: Apparel store shares are down approximately 3.1% overall, with Tillys experiencing a significant drop of about 28.8% and Revolve Group declining by around 10.2%.
Market Commentary: The views expressed in the article reflect the author's opinions and do not necessarily represent those of Nasdaq, Inc.
Northland Securities Keeps Their Buy Rating on Quest Resource (QRHC)
Analyst Rating and Price Target: Northland Securities analyst Owen Rickert has maintained a Buy rating on Quest Resource (QRHC) with a revised price target of $6.50, down from $11.50, while the stock closed at $3.85.
Insider Activity and Market Sentiment: Positive corporate insider sentiment is noted, with an increase in insider purchases, including a recent buy by Director Glenn Culpepper, indicating confidence in the company's future despite its current low trading price.
Quest Resource (QRHC) Q3 Report: Key Insights Before Earnings Release
Earnings Report Expectations: Quest Resource is set to report earnings, with analysts expecting a revenue decline of 17.8% year-on-year to $59.83 million and an adjusted loss of -$0.01 per share.
Recent Performance: The company missed revenue expectations by 17.9% last quarter, and has missed Wall Street's revenue estimates twice since going public, indicating ongoing challenges.
Peer Comparisons: Competitors in the waste management sector, such as Montrose and Waste Connections, have reported positive revenue growth, contrasting with Quest Resource's struggles.
Investor Sentiment: Despite recent performance issues, Quest Resource's stock has risen 10.5% over the past month, with an average analyst price target of $3.08 compared to its current price of $1.47.
PureCycle Technologies, Inc. (PCT) Announces Q3 Loss and Falls Short of Revenue Projections
Quarterly Performance: PureCycle Technologies reported a quarterly loss of $0.44 per share, significantly worse than the expected loss of $0.25, marking a 76% earnings surprise. Revenue for the quarter was $2.43 million, missing estimates by over 50%.
Stock Outlook: The company's stock has underperformed compared to the S&P 500, gaining only 0.7% since the start of the year. Current consensus estimates predict a loss of $0.20 per share for the next quarter.
Earnings Estimate Revisions: The trend for earnings estimate revisions for PureCycle Technologies is mixed, resulting in a Zacks Rank of #3 (Hold), indicating expected performance in line with the market.
Industry Context: The Waste Removal Services industry, where PureCycle operates, ranks in the top 33% of Zacks industries, suggesting that industry performance could significantly influence the stock's future.
What To Expect From Quest Resource’s (QRHC) Q2 Earnings
Earnings Report Expectations: Quest Resource is set to report earnings, with analysts expecting flat revenue of $72.56 million and adjusted earnings of $0.02 per share, following a previous quarter where they missed revenue expectations by 5%.
Market Context: While Quest Resource's stock has risen 8.7% recently, peers in the waste management sector like Montrose and Waste Connections have shown strong growth, indicating a mixed outlook for the industry ahead of Quest's earnings announcement.
Quest Resource Holding Corporation Finalizes Sale of Non-Core Portion of RWS Business
Sale of Non-Core Business: Quest Resource Holding Corporation has sold its tenant-direct portion of the RWS commercial property management business to Lincoln Waste Solutions for approximately $5 million, allowing the company to focus on its core portfolio and improve financial performance.
Strategic Focus on Growth: The sale is part of Quest's strategy to enhance profitability and operational efficiency while providing cash to pay down debt, as emphasized by the company's leadership during recent earnings discussions.
Thursday Sector Laggards: Waste Management, Apparel Stores
Apparel Stores Performance: Apparel store shares are down approximately 3.1% overall, with Tillys experiencing a significant drop of about 28.8% and Revolve Group declining by around 10.2%.
Market Commentary: The views expressed in the article reflect the author's opinions and do not necessarily represent those of Nasdaq, Inc.
Northland Securities Keeps Their Buy Rating on Quest Resource (QRHC)
Analyst Rating and Price Target: Northland Securities analyst Owen Rickert has maintained a Buy rating on Quest Resource (QRHC) with a revised price target of $6.50, down from $11.50, while the stock closed at $3.85.
Insider Activity and Market Sentiment: Positive corporate insider sentiment is noted, with an increase in insider purchases, including a recent buy by Director Glenn Culpepper, indicating confidence in the company's future despite its current low trading price.
