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 business.”

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Michael Kuta, the firm’s interim co-CEO, said in a statement that “DMC’s businesses delivered a strong finish to 2022, reflecting solid execution by our employees, healthy demand for our differentiated products and solutions, and the resiliency of our end markets.”