Welcome to our dedicated page for DMC Global news (Ticker: BOOM), a resource for investors and traders seeking the latest updates and insights on DMC Global stock.
DMC Global Inc., headquartered in Boulder, Colorado, is a diversified technology company dedicated to growth through strategic investments in people, innovative products, and niche market businesses. The company operates via three main segments: Arcadia, DynaEnergetics, and NobelClad.
Arcadia Products supplies architectural building materials, including exterior and interior framing systems, windows, curtain walls, and storefronts to the commercial construction market. This segment supports various construction projects, providing essential components for modern architectural designs.
DynaEnergetics, a key player in the energy sector, designs, manufactures, and distributes advanced products used in the oil and gas industry, particularly for the perforation of oil and gas wells. This segment continues to innovate with new technologies to enhance the efficiency and safety of energy extraction processes.
NobelClad specializes in the production of explosion-welded clad metal plates, which are essential in constructing corrosion-resistant industrial processing equipment and specialized transition joints. These products are vital for maintaining the integrity and longevity of industrial infrastructure, especially in harsh environments.
Recently, DMC Global Inc. reported its fourth-quarter results and projected its first quarter of 2024 guidance. Key insights and strategic moves were shared during the investor webcast, highlighting the company's commitment to transparency and continuous improvement. The company’s latest achievements reflect its robust financial health and strategic initiatives to drive growth and innovation. Investors can access detailed financial reconciliations and replay webcasts through the company’s investor relations page.
For more detailed information about DMC Global Inc. and its subsidiaries, visit their respective websites at DMC Global, DynaEnergetics, and NobelClad.
DMC Global (Nasdaq: BOOM) has reached an agreement with the Munera family, its Arcadia Products joint venture partners, to extend the put option exercise date to September 6, 2026. This modification delays the earliest date DMC can be required to purchase the remaining 40% of Arcadia, which was originally set for December 23, 2024. DMC maintains its call option right to acquire the remaining stake, exercisable from December 23, 2024.
The extension provides DMC relief from potential equity dilution and increased leverage that could have resulted from near-term satisfaction of the put obligation. The company plans to use this time to deleverage, explore strategic financing options, and improve performance of challenged businesses. Management will present new operating strategies and a simplified strategic plan focused on EBITDA growth, margin expansion, and cash conversion during the year-end earnings call in early 2025.
DMC Global (Nasdaq: BOOM) announced that Michael Kuta will retire as president, CEO and board member, effective November 29, 2024. Executive Chairman James O'Leary will serve as interim president and CEO. O'Leary, who joined the board in November 2023, brings nearly four decades of executive leadership experience, particularly in construction and industrial manufacturing. He currently serves on the board of Builders FirstSource and previously led Kaydon as chairman and CEO. O'Leary stated his priority is to address the company's current challenges and enhance stakeholder value.
DMC Global (NASDAQ: BOOM) reported challenging third quarter results with sales of $152.4 million, down 11% both sequentially and year-over-year. The company recorded a net loss of $159.4 million, largely due to a $141.7 million non-cash goodwill impairment charge at Arcadia Products. Adjusted EBITDA attributable to DMC was $5.7 million, declining 71% sequentially and 77% year-over-year.
Weakness in U.S. construction and energy services industries negatively impacted performance. For Q4 2024, DMC expects consolidated sales between $138-148 million and adjusted EBITDA of $5-8 million, reflecting challenging market conditions and high interest rates affecting luxury home sales.
DMC Global (Nasdaq: BOOM) has announced it will release its 2024 third quarter financial results after market close on Monday, November 4, 2024. The company will host a conference call and webcast at 5 p.m. Eastern (3 p.m. Mountain) following the earnings release. Investors can access the call by dialing 877-407-5783 (international: +1-201-689-8782) or listen to the webcast via their website. A replay will be available for six months.
DMC Global (NASDAQ: BOOM) has revised its Q3 2024 financial guidance, expecting sales of approximately $152 million, down from the previous $158-$168 million forecast. Adjusted EBITDA is now projected at $5 million, significantly lower than the earlier $15-$18 million guidance. The company will record a $142 million non-cash goodwill impairment charge related to its Arcadia acquisition.
DMC's Board has ended the active marketing of DynaEnergetics and NobelClad, prioritizing internal improvements. Governance changes include James O'Leary becoming executive chairman and Ouma Sananikone appointed as lead independent director. David Aldous has stepped down as independent chairman and board member, while Peter Rose will not seek re-election.
The company cites weak commercial construction activity, supply-chain disruptions, and declining North American well-completion activity as factors impacting performance. DMC expects to report detailed Q3 results on November 4, 2024.
DMC Global (NASDAQ: BOOM) has responded to Steel Connect's unsolicited acquisition offers. The Board of Directors has repeatedly invited Steel Connect to participate in its strategic alternatives review, subject to standard terms. However, Steel Connect has rejected requests to enter a customary non-disclosure agreement and a 30-day standstill agreement. Steel Connect's demand for details of all offers from other participants is deemed unacceptable. The Board remains open to engaging with Steel Connect under conditions that protect all stockholders' rights. DMC emphasizes that there is no assurance of any transaction or alternative resulting from this process, nor any timeline for completion. The company has retained BofA Securities as financial advisor, along with legal, stockholder, and communications advisors to assist in the process.
Steel Connect has reiterated its proposal to acquire DMC Global Inc. (NASDAQ: BOOM) for $16.50 per share in cash, representing a 51% premium to DMC's current share price. Steel Connect, which owns 9.8% of DMC's outstanding shares, expressed frustration with the lack of progress since their initial offer in May 2024. The company criticized DMC's board for not engaging in discussions and for actions deemed detrimental to shareholders. As an alternative, Steel Connect is open to acquiring DMC's DynaEnergetics and NobelClad businesses for approximately $185 million. Steel Connect warned it may consider all potential alternatives, including a possible tender offer, if DMC continues to refuse discussions.
DMC Global Inc. (Nasdaq: BOOM) reported its Q2 2024 financial results, with sales of $171.2 million, up 3% sequentially but down 9% year-over-year. Net income was $6.3 million, with $4.0 million attributable to DMC. Adjusted EBITDA attributable to DMC was $19.4 million, up 16% sequentially but down 39% year-over-year. The company's three businesses - Arcadia, DynaEnergetics, and NobelClad - showed mixed results. Arcadia saw improved margins despite weak construction spending. DynaEnergetics faced softer demand in the U.S. onshore market. NobelClad reported increased order backlog. DMC expects Q3 2024 consolidated sales between $158M - $168M and adjusted EBITDA attributable to DMC of $15M - $18M.
DMC Global (Nasdaq: BOOM) will release its second quarter 2024 financial results on August 1, 2024, after the market closes.
The company will host a conference call and simultaneous webcast at 5 p.m. Eastern (3 p.m. Mountain) to discuss the results. Investors can join the call by dialing 877-407-5783 (or +1 201-689-8782 for international callers).
The live webcast will be available on the Investor page of DMC’s website and will remain accessible for six months. Additional information can be obtained by contacting Geoff High at 303-604-3924.
DMC Global has announced the appointment of Simon Bates as an independent director to its board, effective from June 25, 2024. Mr. Bates brings nearly 30 years of leadership experience within the building products industry, having previously served as CEO of Argos North America and GCP Applied Technologies. His extensive background also includes roles at CRH plc and current directorship at U.S. Silica Holdings. This move fulfills a cooperation agreement with Bradley L. Radoff and affiliates, requiring the appointment of an independent director with sector expertise. Mr. Bates will contribute to DMC’s Corporate Governance and Nominating Committee, as well as its Compensation Committee, expanding the board to eight members. Chairman David Aldous highlighted Mr. Bates' expertise as key to driving strategic initiatives for shareholder value.
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