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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 Corporation (NASDAQ: QRHC) reported a strong performance for Q4 2022, with revenues of $62.3 million, up 34.2% from Q4 2021. Gross profit increased 25.0% to $10.8 million, but gross margin declined to 17.3%. The company posted a GAAP net loss per share of $(0.17), compared to $(0.03) in the same quarter last year. For the full year, revenue reached $284.0 million, an 82.4% increase, while gross profit rose 70.2% to $48.9 million. The anticipated process improvements from the RWS acquisition are expected to enhance future performance as the company remains confident in its growth trajectory.
Quest Resource Holding Corporation (QRHC) will release its fourth quarter and fiscal year results for the period ending December 31, 2022, on March 23, 2023, after market close. A conference call led by CEO Ray Hatch and CFO Brett Johnston will follow at 5:00 PM ET to discuss the financial results and future outlook. Investors can access the call at 1-855-327-6837 or via a listen-only webcast on Quest's investor relations website. The webcast will be archived for 90 days, and a telephonic playback will be available starting March 23 through April 6.
Quest Resource Holding Corporation (NASDAQ: QRHC) reported strong financial results for the third quarter of 2022, with revenue reaching $73.4 million, a 96.3% increase from the previous year. Gross profit rose by 77.8% to $12.2 million, while Adjusted EBITDA surged by 56.9% to $3.8 million. However, the company recorded a GAAP net loss of $(1.7) million, or $(0.09) per share, contrasting with a profit of $386,000 in Q3 2021. Year-to-date revenue stands at $221.8 million, reflecting a 102.9% increase year-over-year.
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