DMC Global posts 14 percent YoY revenue hike

BROOMFIELD  — DMC Global Inc. (Nasdaq: BOOM) shares jumped more than 20 percent in early trading Friday after the oil and gas metalworking company posted third quarter results.

The Broomfield company posted $100.09 million in sales for its previous three months ending Sept. 30, a 10 percent decrease from Q2 but an increase of 14 percent over Q3 last year. That figure beat the Wall Street consensus estimate by $460,000, according to data compiled by Seeking Alpha.

In particular, DMC’s DynaEnergetics division saw sales climb 16.7 percent year-over-year to $77.3 million, which it attributed to a spike in unconventional oil well openings. DynaEnergenics makes equipment that punches channels through well walls to access oil pools.

DMC’s other division, NobelClad, saw just 0.5 percent growth in sales over the year. That business makes explosion-welded metal plates for producers of corrosion-resistant industrial equipment.

The company’s non-generally accepted accounting principles earnings per share figure of 90 cents beat estimates by 13 cents. However, its GAAP earnings per share of 46 cents missed by 31 cents.

DMC stock spiked from $39 at Thursday’s close to $47.32 as of 10 a.m. Mountain Time, but closed the day at $46.31 per share, an 18.74 percent increase.

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