DMC Global Inc.
Company Name | DMC Global Inc. |
Stock Symbol | BOOM |
On October 21, 2024, DMC disclosed that it was “revising its guidance” for the quarter ended September 30, 2024, stating that the Company’s adjusted EBITDA is now expected to be approximately $5 million, down from prior guidance for $15-18 million, and that the third quarter financial results “will include inventory and bad debt charges at DynaEnergetics totaling approximately $5 million, as well as lower fixed overhead absorption on reduced sales at both Arcadia and DynaEnergetics.” Further, the Company revealed that the financial results will include an approximate $142 million non-cash goodwill impairment charge “associated with DMC’s December 2021 acquisition of a controlling interest in Arcadia.”
On this news, DMC’s stock price fell $2.36, or 18.3%, to close at $10.57 per share on October 22, 2024, thereby injuring investors.
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