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Quest Resource Holding Corporation (NASDAQ: QRHC) is a national leader in providing comprehensive waste and recycling management solutions across various industries in the United States. Through its subsidiaries, Quest specializes in the reuse, recycling, and disposal of diverse waste streams, including used motor oil, oil filters, scrap tires, solid waste, metals, grease, cooking oil, food waste, and expired food products. The company also offers landfill diversion services and sustainability programs, such as strategic planning, policy writing, LEED certification, life cycle assessment, and building commissioning.
Quest's client base includes large retailers, automotive service providers, transportation and logistics operators, manufacturing plants, multi-family and commercial properties, restaurant chains, and construction and demolition projects. The company tailors customer-specific programs to collect, process, recycle, dispose of, and track waste streams and recyclables, ensuring clients achieve their environmental and sustainability goals.
Recent highlights from Quest include a strong sequential growth in gross profit and adjusted EBITDA for the second quarter of 2023, driven by new business wins, improved efficiencies, and successful acquisition integration. The company's momentum continued into the third quarter of 2023, despite some adjustments related to the integration of RWS. Additionally, Quest announced record levels of new client wins and significant growth in gross profit and adjusted EBITDA for the first quarter of 2024.
Quest's strategic focus on enhancing operational efficiency, deepening client relationships, and expanding its service offerings has positioned the company for sustained growth. With a robust pipeline and ongoing investments in technology and talent, Quest is poised to capitalize on opportunities in both existing and new markets. For more information, visit www.qrhc.com.
Quest Resource Holding (NASDAQ: QRHC) reported financial results for the first quarter of 2024, with revenue at $72.7 million, a 2.0% decrease from 2023. However, gross profit increased by 11.1% to $14.0 million. The company achieved a record number of new client wins, leading to significant revenue growth opportunities. Quest's differentiated value proposition and strategic expansion efforts have resulted in positive financial performance, with adjusted EBITDA at $5.1 million, a 28.4% increase from the previous year.
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