DMC boosts sales with addition of Arcadia

BROOMFIELD — Oilfield services provider DMC Global Inc. (Nasdaq: BOOM) saw its sales soar in the fourth quarter of 2022 due in large part to the company’s late 2021 decision to take a controlling stake in architectural building product supplier Arcadia Inc.

The company’s revenue was $175.1 million in the fourth quarter of 2022, up 144% year over year. Arcadia, 60% of which DMC bought for $282.5 million, accounted for $74.4 million of that sales total.

DMC, in its quarterly report released in late February, attributed its improved performance to “stronger demand for well perforating products from DynaEnergetics, DMC’s energy products…