DMC Global says 2020 guidance ‘no longer valid’

BROOMFIELD — DMC Global Inc. (Nasdaq: BOOM) Monday backed away from the first-quarter and full-year financial guidance that it provided Feb. 20, saying that it “is no longer valid.”

“The economic impact of the Coronavirus coupled with heightened instability in the international crude market has created substantial uncertainty in the energy sector, and has limited our near-term visibility,” Kevin Longe, president and CEO, said in a prepared statement.  “We are well positioned to navigate these challenges, as we have established the industry’s leading technology portfolio, a team of talented and dedicated employees and a strong balance sheet. We will update our 2020 outlook when our visibility improves.”

DMC had forecast earnings per share of 50 cents to 55 cents on revenue of $370 million to $400 million. But the company at the time said it was “unclear what impact macro developments, including [the] coronavirus outbreak in China will have on global economic activity in oil and gas demand.”

DMC provides technical products and processes for the oil-and-gas, industrial and infrastructure sectors.

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