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Sep 30, 2021
DMC Global Q3 2021 Earnings Report
Reported financial results for the third quarter ended September 30, 2021.
Key Takeaways
DMC Global reported third-quarter sales of $67.2 million, a 3% increase sequentially and a 22% increase from Q3 2020. Net income was $403,000, or $0.02 per diluted share. The company ended the quarter with $182.0 million in cash and marketable securities.
Third quarter sales were $67.2 million, up 3% sequentially and 22% from Q3 2020
Gross margin was 25% versus 26% in Q2 2021 and 25% in Q3 2020
Net income was $403,000, or $0.02 per diluted share
Cash and marketable securities at September 30, 2021, were $182.0 million versus $53.9 million at December 31, 2020
Forward Guidance
Fourth quarter 2021 sales are expected in a range of $68 million to $74 million versus the $67.2 million reported in the 2021 third quarter. Adjusted EBITDA is expected in a range of $5 million to $6 million versus the $5.8 million in the third quarter of 2021.
Positive Outlook
- DynaEnergetics is expected to report fourth quarter sales in a range of $46 million to $50 million versus the $44.2 million reported in 2021 third quarter. The anticipated increase reflects an expected improvement in international sales following the Covid-related order delays in the third quarter.
- NobelClad’s sales are expected in a range of $22 million to $24 million versus the $22.9 million reported in the 2021 third quarter.
- NobelClad’s fourth quarter sales forecast includes $8.8 million related to a previously announced order from the chemical industry.
- Consolidated gross margin is expected in a range of 23% to 24% versus the 25% reported in the 2021 third quarter.
- Fourth quarter selling, general and administrative (SG&A) expense is expected in a range of $15 million to $16 million versus the $15.3 million reported in the 2021 third quarter.
Challenges Ahead
- Receipt of the raw materials required to produce the order has been delayed due to supply chain bottlenecks, and while NobelClad still expects to receive the materials and fulfil the order during the fourth quarter, there remains a risk that some, or all, of the shipment will occur after year end.
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