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Mar 31, 2024
PureCycle Q1 2024 Earnings Report
PureCycle reported a net loss for Q1 2024, but made progress on Ironton facility improvements and resin sampling.
Key Takeaways
PureCycle Technologies reported a net loss of $85.6 million for the first quarter of 2024. The company focused on improving the reliability of the Ironton Facility and driving more consistent product quality. They also reached an agreement for the sale of $37.5 million of Series A Revenue Bonds to Pure Plastics LLC.
Net loss was $85.6 million, or $0.52 per diluted share.
Loss included $21.2 million from the purchase of outstanding Southern Ohio Port Authority Revenue Bonds.
Ironton Facility improvements were completed to enhance reliability and product quality.
Agreement reached for the sale of $37.5 million of Series A Revenue Bonds to Pure Plastics LLC.
PureCycle
PureCycle
Forward Guidance
PureCycle focused on improving the reliability of the Ironton Facility and driving more consistent product quality.