DMC reverses 2020 Q2 loss, but misses estimates

BROOMFIELD — DMC Global Inc. (Nasdaq: BOOM), which suffered losses in the second quarter of 2020, was once again in the black last quarter, but the company missed on its second-quarter estimates for earnings and revenue.

The oilfield services provider posted net income of $1.7 million, or 10 cents per share, on revenue of $65.4 million in the period, missing analysts’ estimates of net income of 14 cents per share. Revenues were more than 7% lower than the Zacks Consensus Estimate. 

Sales were more than 50% better than during the same period last year and up 18% over the first quarter of 2021. 

“The sales growth versus both prior periods is attributable to the accelerating recovery of the energy industry, which drove improved demand for well perforating systems at DynaEnergetics, DMC’s energy products business,” the company said in a statement accompanying its quarterly earnings report. “The results also reflect increased order shipments at NobelClad, DMC’s composite metals business.”

The company’s stock tumbled about 11.3% Friday. 

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