ADES Q1 revenue $20.8M, net loss $7.5M; completes Arq acquisition

Arq, Inc.

2023-Q1 EPS reported -$0.32 revenue$20,805,000

Consumables revenue $20.8M (-21% YoY) due to low natural gas pressuring power generation customers.
Net loss $7.5M ($0.32/diluted share) vs loss $3.0M ($0.17) prior year; Adjusted EBITDA loss $7.7M.
Completed acquisition of Arq Limited subsidiaries (previously announced Feb 1); incurred $4.4M transaction/integration costs.
Sold Marshall Mine in March, eliminating asset retirement obligation and releasing restricted cash.
2023 capex guidance $40-45M for GAC production expansion and plant turnaround.

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 0.9

Arq, Inc. reported the quarter ended March 31, 2023 results: revenue $20.8 million, net income $7.5 million, EPS $0.32 per diluted share.

Period: the quarter ended March 31, 2023
Revenue: $20.8 million
Net income: $7.5 million
EPS: $0.32 per diluted share
Result: reported results

Exact text from the filing

obligation for Marshall Mine and will result in the release of a portion of the Company’s restricted cash balance. Financial Highlights • First quarter consumables revenue was $20.8 million compared to $26.4 million in the prior year. • First quarter net loss was $7.5 million compared to net loss of $3.0 million in the prior year. • First quarter Adjusted EBITDA

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Arq, Inc. filing history →

Source: SEC EDGAR

accession 0001515156-23-000065

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