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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 strong financial results for Q2 2021, achieving revenue of $36.9 million, reflecting a 67.8% increase year-over-year. Gross profit improved to $6.8 million (+55.7%), while gross margin slightly declined to 18.5%. GAAP net income per share fell to $0.04, down from $0.08 in Q2 2020 due to prior PPP Loan income. Year-to-date results also showed significant growth, with revenue at $72.0 million (+52.1%) and adjusted EBITDA at $5.1 million (+206.8%). CEO S. Ray Hatch cited organic growth and successful acquisitions as key drivers.
Quest Resource Holding Corporation (Nasdaq: QRHC) will present at the virtual East Coast IDEAS Investor Conference on August 25, 2021. Ray Hatch, CEO, and Laurie Latham, CFO, will participate, with their presentation available at 7:00 am CST. Interested attendees can access the presentation via the conference website or the investor relations section of Quest's site. The IDEAS Conferences aim to connect quality companies with investment professionals, fostering regional investment communities.
Quest Resource Holding Corporation (NASDAQ: QRHC) will release its second quarter results for the period ended June 30, 2021, on August 16, 2021, after market close. A conference call is scheduled for the same day at 5:00 PM ET, where CEO Ray Hatch and CFO Laurie Latham will discuss the financial results and business outlook. Investors can participate by dialing 1-800-289-0438 (U.S.) or 1-323-794-2423 (internationally) using conference ID 9502783. The call will be accessible via the company's investor relations website and archived for 90 days.
Quest Resource Holding Corporation (Nasdaq: QRHC) has elected Glenn A. Culpepper to its Board of Directors as of July 7, 2021. Culpepper brings over 35 years of financial expertise, having held senior roles in various companies within the environmental services, construction materials, and mining sectors. His prior experience includes Chief Financial Officer roles at Republic Services and Summit Materials. Quest anticipates that Culpepper's industry knowledge and financial skills will enhance its strategic growth and shareholder value initiatives.
Quest Resource Holding Corporation (Nasdaq: QRHC) announced its inclusion in the Russell Microcap® Index effective June 28, 2021. This recognition underscores the company's restoration of growth and profitability, enhancing its visibility among investors. Membership in this index, which persists for one year, signifies automatic inclusion in appropriate growth and value indexes, key for institutional investment strategies.
Russell indexes manage around $10.6 trillion in assets, serving as benchmarks for investment strategies.
Quest Resource Holding Corporation (Nasdaq: QRHC) has announced a definitive agreement to acquire an Atlanta-based environmental services company for $2.5 million. This amount will be paid in cash and through an earn-out structure. The assets being acquired, primarily customer contracts, generated an estimated Adjusted EBITDA of $0.5 million for the trailing twelve months ending March 31, 2021. The acquisition is expected to enhance Quest's presence in the multi-family housing market and is projected to be completed within 30 to 60 days, pending customary closing conditions.
Quest Resource Holding Corporation (Nasdaq: QRHC) will participate in the East Coast IDEAS Investor Conference on June 17, 2021. CEO Ray Hatch and CFO Laurie Latham will present, with the presentation available at 7:00 am CST via webcast. This conference, aimed at connecting quality companies with investment professionals, is distinct for being “SPONSORED BY INVESTORS. FOR INVESTORS.” Quest is recognized for its solutions in waste and recycling services, helping clients meet environmental goals. More details are available on Quest's website.
Quest Resource Holding Corporation (NASDAQ: QRHC) reported its first quarter financial results for 2021, showcasing a robust performance. Revenue reached $35.1 million, marking a significant 38.6% increase from the previous year. Gross profit also surged to $6.4 million, a 41.8% increase, with a gross margin of 18.3%. Notably, net income per share stood at $0.06, compared to a net loss of $(0.02) in Q1 2020. Adjusted EBITDA hit a record $2.6 million, reflecting a remarkable 390% increase. The company anticipates ongoing improvements driven by recovery in industrial activity.
Quest Resource Holding Corporation (NASDAQ: QRHC) announced it will release its first-quarter results for the period ending March 31, 2021, on May 17, 2021, after market close. A conference call will follow at 5:00 PM ET, led by CEO Ray Hatch and CFO Laurie Latham, to discuss financial results and future business outlook. Investors can join the call by phone or through a webcast available on the investor relations section of Quest’s website. The archived call will be accessible for 90 days post-event.
Quest Resource Holding Corporation (Nasdaq: QRHC) has launched Quest Proganics, a new process designed to significantly reduce organic waste in landfills. Annually, over 23.6 million tons of food waste from various industries contributes to landfill waste. The new service enables clients to achieve up to 100% diversion of organic waste and potentially reduce total landfill waste by over 70%. Quest Proganics offers a comprehensive, cost-efficient solution for handling various organic materials, repurposing them into compost, biofuel, or animal feed.
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