DMC Global names interim Arcadia prez after challenging quarter

BROOMFIELD — Oilfield-services, construction-products and infrastructure firm DMC Global Inc. (Nasdaq: BOOM) appointed an interim president to lead Arcadia, its architectural building products business unit, after sales fell and losses increased in the third quarter of fiscal 2024.

Organization-wide, DMC’s quarterly revenue totaled $152.4 million in the most-recent period, down 11% year over year.

Net loss attributable to DMC was $101.3 million in the third quarter. That’s down from a gain of just more than $4 million in the same period last year. 

In early 2024, company leaders told investors that DMC would attempt to offload DynaEnergetics, the company’s energy-industry services division, and NobelClad, DMC’s industrial infrastructure and transportation division, leaving Arcadia, a supplier of architectural building products, as the company’s sole business unit. That effort was abandoned this fall. 

“At Arcadia, DMC’s architectural building products business, persistent high interest rates have impacted sales to the high-end luxury home market and have resulted in continued soft commercial construction activity. Under the direction of a new interim business president, Arcadia is executing a series of internal initiatives designed to strengthen sourcing and supply chain functions; improve sales, inventory and operations planning processes; and more effectively leverage Arcadia’s enterprise resource planning system,” DMC said in its quarterly report. “The business is also reviewing certain product lines that have not consistently met profitability targets.”

Chris Scocos has been tapped to serve as Arcadia’s interim president. 

Scocos “joined the business in September 2024 with a 25-year track record of implementing lean manufacturing, process improvement and operational excellence programs for industrial manufacturing businesses across a broad range of industries, including building materials and industrial manufactured products,” DMC said. 

As of 12:40 on Tuesday, DMC’s stock price was $8.94, down more than 9% on the day. 

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