Trecora Resources (TREC) Misses Q3 EPS by 8c
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Trecora Resources (NYSE: ) reported Q3 EPS of $0.08, $0.08 worse than the analyst estimate of $0.16. Revenue for the quarter came in at $57.1 million versus the consensus estimate of $60.3 million.
Trecora President and CEO Simon Upfill-Brown commented, "Despite a challenging petrochemical market environment, we saw a 16.4% sequential increase in prime product volume in the third quarter. Several important customer accounts increased their volume demands in the quarter which we expect will continue. Additionally, as a result of our on-going capacity expansion investments, we are poised to benefit from the anticipated 60-70% increase in pentane volumes by 2021.
"At Trecora Chemical (TC), we reported year-over-year wax sales growth which was partially offset by a decrease in custom processing revenue. We are laying the groundwork for future growth and increased profitability at TC through significant capital and human resource investments while pursuing new wax opportunities and securing several new custom processing contract wins."
For earnings history and earnings-related data on Trecora Resources (TREC) click here.
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