DMC Global Inc. - BOOM STOCK NEWS

DMC Global Inc. (Nasdaq: BOOM) is set to announce its 2020 fourth quarter financial results on February 18, 2021, after market close. Following the earnings release, a conference call will be held at 5 p.m. Eastern, accessible via phone or live webcast. Shareholders can dial 888-506-0062 for participation and access the webcast through their website. A replay of the call will be available for listeners until February 25, 2021. DMC Global is a diversified holding company focused on providing innovative products and services to niche industrial markets.

DynaEnergetics, a business of DMC Global (Nasdaq: BOOM), has launched two new perforating systems: DS Gravity and DS LoneStar. These systems cater to the increasing demand for compact, oriented perforating solutions in unconventional oil and gas well completions. The DS Gravity features a self-orienting mechanism and compact design, while the DS LoneStar offers a powerful single-shot charge for enhanced penetration. Both systems promise improved efficiency and safety, enhancing well productivity and lowering operational costs.

DMC Global Inc. (Nasdaq: BOOM) reported Q3 2020 consolidated sales of $55.3 million, a 28% sequential increase but a 45% decrease from Q3 2019. Gross margin improved to 25% from 15% in Q2 2020, but down from 36% year-over-year. Net income was $1.0 million ($0.07 per diluted share), significantly lower than $6.9 million in Q3 2019. Adjusted EBITDA was $6.0 million, contrasting with negative $1.8 million in Q2 2020. The company ended the quarter with $24.6 million in cash and $12.6 million net cash. Future guidance predicts Q4 sales between $50 million and $55 million.

DMC Global Inc. (Nasdaq: BOOM) has appointed Ruth I. Dreessen as an independent director to its board. With over 25 years of experience in finance and the chemical industry, Dreessen previously chaired audit committees and held executive roles, including CFO at TPC Group Inc. and Westlake Chemical Corporation. Her appointment precedes the retirement of Yvon P. Cariou, who will not seek reelection in May 2021. DMC emphasizes governance and succession planning, with a mandatory retirement age of 75 for directors.

DMC Global Inc. (Nasdaq: BOOM) will announce its third quarter financial results for 2020 after market close on October 22, 2020. Management will host a conference call at 5 p.m. Eastern Time, accessible by phone and via live webcast. A replay of the call and webcast will also be available for a limited time. DMC Global operates in niche industrial and commercial markets, emphasizing innovative solutions and strategic growth for its portfolio companies, including DynaEnergetics and NobelClad.

DynaEnergetics, a unit of DMC Global (Nasdaq: BOOM), has launched Igneo, an Intrinsically Safe initiating system designed for high-temperature mining applications. Developed in collaboration with Newcrest Mining, the Igneo system, featuring the HTD150 electronic detonator, is capable of withstanding temperatures up to 150°C for 48 hours. This innovative solution enhances safety and efficiency, particularly for operations in the extreme conditions of the Lihir mine in Papua New Guinea. The introduction of Igneo marks a strategic expansion for DynaEnergetics into the mining sector.

DMC Global Inc. (Nasdaq: BOOM) has promoted Antoine Nobili to president of NobelClad, its composite metals business. With 25 years at NobelClad, including 11 years as managing director of European operations, Nobili has a proven track record in product development and operational leadership. Kevin Longe, DMC's CEO, praised Nobili's leadership and contributions to the company's growth. Nobili expressed confidence in NobelClad's future, citing a strong culture of safety and a compelling growth strategy. The promotion emphasizes DMC's commitment to fostering internal talent.

DMC Global Inc. (Nasdaq: BOOM) has announced the election of Michael A. Kelly as an independent director. Mr. Kelly brings significant experience from his tenure at Amgen, where he held various leadership positions, including senior vice president of Global Business Services. His track record includes overseeing major acquisitions and international operations, which is expected to enhance DMC’s growth strategy. Kevin Longe, CEO, praised Kelly's innovative leadership and financial expertise, indicating that his contributions will support the company’s long-term objectives.

DMC Global Inc. (Nasdaq: BOOM) reported Q2 2020 sales of $43.2 million, a decline of 41% sequentially and 61% year-over-year due to decreased oil and gas demand amid the Covid-19 pandemic. Gross margin was 15%, down from 33% in Q1 2020. The operating loss was $8.0 million compared to an operating income of $24.7 million in Q2 2019. The net loss was $5.6 million or $0.38 per diluted share. Adjusted EBITDA was negative $1.8 million. Despite a challenging environment, net cash improved to $4.5 million from $2.9 million at the end of March 2020.