Welcome to our dedicated page for Quest Resource Holding Corporation news (Ticker: QRHC), a resource for investors and traders seeking the latest updates and insights on Quest Resource Holding Corporation stock.
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) announced robust financial results for Q4 and the year ending December 31, 2021. Q4 revenue soared to $46.4 million, marking a 67.7% increase year-over-year. Gross profit also improved to $8.7 million, up 56.2%. However, the company reported a GAAP net loss per share of ($0.03), contrasting with a net income of $0.01 in Q4 2020. For the year, revenue reached $155.7 million (+57.8%), with adjusted EBITDA rising to $10.9 million (+144.3%), showing significant operational improvements despite the net loss.
Quest Resource Holding Corporation (Nasdaq: QRHC) reported preliminary unaudited financial results for Q4 2021, forecasting revenue of approximately $46 million, reflecting over 65% year-over-year growth. Preliminary gross profit is expected to be around $8.7 million, marking more than 55% growth compared to Q4 2020. The company anticipates a net loss of approximately $550,000, attributed to acquisition costs. Adjusted EBITDA is projected at about $3.2 million, showcasing a growth of over 79%. The full financial results will be discussed in an earnings call on March 17, 2022.
Quest Resource Holding Corporation (Nasdaq: QRHC) announced that CEO Ray Hatch will participate in two major investor conferences in Q1 2022. The events include the 34th Annual Roth Conference on March 14 and the Gabelli Funds 8th Annual Waste & Environmental Services Symposium on March 31. Live audio webcasts and replays will be accessible on the company’s investor relations website. Quest specializes in providing environmental waste and recycling services, supporting businesses in achieving sustainability goals through tailored solutions.
Quest Resource Holding Corporation (Nasdaq: QRHC) has acquired an independent environmental services company in the northeastern U.S. for $3.35 million in cash. The acquisition is anticipated to be accretive on a free cash flow per share basis and is expected to generate annual net operating income of $0.6 million. This strategic move enhances Quest's presence in the commercial real estate market, strengthening long-term relationships with major clients averaging over 7 years. The company aims to provide broader service capabilities and increase value for its client base.
Atar Capital has reached a definitive agreement to sell RWS Facility Services to Quest Resource Holding Corporation (NASDAQ: QRHC), a leader in environmental waste and recycling services. RWS, headquartered in Chadds Ford, Pennsylvania, offers managed solutions for waste management and recycling, serving blue-chip clients across various sectors. Under Atar's ownership since September 2017, RWS has seen growth in revenue and profitability, enhancing its service offerings and customer base. The sale marks a strategic move for Quest to expand its capabilities in facility management services.
Quest Resource Holding Corporation (Nasdaq: QRHC) has acquired two waste services businesses, RWS Facility Services and InStream Environmental, for approximately $44 million. These acquisitions are projected to boost annual revenue and adjusted EBITDA by over 50%. The deal aims to enhance Quest's presence in the industrial and commercial property management sectors. Additionally, Quest has amended its credit facilities to $75 million, reducing borrowing costs significantly. CEO S. Ray Hatch emphasized the strategic importance of customer loyalty and growth through these transactions.
Quest Resource Holding Corporation (NASDAQ: QRHC) reported its third-quarter financial results for 2021, showing a significant revenue increase of 57.7% year-over-year, totaling $37.4 million. Gross profit also rose by 50.4% to $6.9 million, with a gross margin of 18.3%. The company achieved a net income of $0.02 per share, compared to a loss in the same quarter of 2020. Year-to-date revenue reached $109.3 million, reflecting a 54.0% increase. Adjusted EBITDA for the quarter was $2.5 million, a 147.8% increase.
Quest Resource Holding Corporation (Nasdaq: QRHC) has acquired assets from an independent environmental services company in Kentucky for $2.15 million, to be paid in cash and deferred compensation. The acquired assets, primarily customer contracts, generated approximately $0.4 million in operating income and EBITDA during the trailing twelve months ending June 30, 2021. The acquisition aligns with Quest's customer-first approach, aiming to increase service capabilities and enhance value for the client base.
Quest Resource Holding Corporation (Nasdaq: QRHC) announced that CEO Ray Hatch and CFO Laurie Latham will present at the Southwest IDEAS Investor Conference on November 18, 2021. The event will take place at the Westin Dallas Downtown, starting at 8:45 am CST. The presentation will be webcasted and accessible via the conference website and Quest's investor relations page. IDEAS Conferences provide a platform for quality companies to present to investment professionals, with sponsors managing over $200 billion in assets.
Quest Resource Holding Corporation (NASDAQ: QRHC) announced it will release its third quarter results on November 15, 2021, after market close. The company's President and CFO will host a conference call the same day at 5:00 PM ET to discuss financial results and future outlook. Investors can join via phone or listen online. The company provides waste and recycling services, helping clients achieve their environmental and sustainability goals. For further information, visit www.qrhc.com.
FAQ
What is the current stock price of Quest Resource Holding Corporation (QRHC)?
What is the market cap of Quest Resource Holding Corporation (QRHC)?
What services does Quest Resource Holding Corporation provide?
Which industries does Quest Resource Holding Corporation serve?
What recent achievements has Quest Resource Holding Corporation made?
What is Quest Resource Holding Corporation's focus in sustainability?
How does Quest Resource Holding Corporation tailor its services to clients?
What financial measures does Quest Resource Holding Corporation use to assess performance?
Where can I find more information about Quest Resource Holding Corporation's financial results?
What are Quest Resource Holding Corporation's future growth plans?
How has Quest Resource Holding Corporation performed in 2024?
How can I participate in Quest Resource Holding Corporation's earnings calls?
