ADES Q3 net loss $2.4M; consumables rev up 7% YoY, announces merger with Arq

Arq, Inc.

2022-Q3 EPS reported -$0.31 revenue$79,578,000

Q3 consumables revenue $28.4M vs $26.7M prior year (+7%); net loss $2.4M ($0.13/sh) vs net income $24.3M ($1.31/sh) due to Tinuum wind-down.
Consolidated Adjusted EBITDA (loss) $0.5M vs $28.5M prior year; cash $85.8M, only $4.9M finance lease debt.
Entered definitive agreement to combine with Arq Limited, leveraging bituminous feedstock for new markets; expected close H1 2023.
Announced sale of Marshall Mine to Caddo Creek, eliminating asset retirement obligation; closing also H1 2023.
Nine-month net loss $5.8M ($0.31/sh) vs net income $54.6M ($2.96/sh) prior year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Arq, Inc. reported the quarter ended September 30, 2022 results: revenue $28.4 million, net income net loss of $2.4 million, EPS $0.13 per diluted share.

Period: the quarter ended September 30, 2022
Revenue: $28.4 million
Net income: net loss of $2.4 million
EPS: $0.13 per diluted share
Result: reported results

Exact text from the filing

Group, LLC and Tinuum Services, LLC (collectively "Tinuum"), of which ADES owns 42.5% and 50%, respectively. Third Quarter Highlights • Third quarter consumables revenue was $28.4 million compared to $26.7 million in the prior year period. • Third quarter net loss was $2.4 million compared to net income of $24.3 million in the prior year period, which reflects the

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Source: SEC EDGAR

accession 0001515156-22-000090

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