Quest Resource Holding (QRHC) Tops Q4 EPS by 5c

Quest Resource Holding (NASDAQ: QRHC) reported Q4 EPS of ($0.09), $0.05 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $45 million versus the consensus estimate of $47.89 million.

"We grew our revenue year-over-year by 8% in 2016 and 2% in the fourth quarter, reflecting growth from both new and existing customers," said Laurie Latham, Chief Financial Officer. "In the fourth quarter of 2016, gross margin improved 50 basis points and Adjusted EBITDA improved significantly compared with the prior year period."

"We expect improved performance in 2017, reflecting our refocused go-to-market strategy and our efforts to enhance the value add of our services portfolio. Those initiatives, including our focused approach to customer acquisition, are expected to result in 1% to 2% improvement in gross margin and positive Adjusted EBITDA by the end of 2017," said Mr. Hatch. "Long term, we expect our strategy will return the company to double-digit top-line growth. In addition, we plan to show continued growth during the next several years and have established a three-to-five-year gross margin target in the low to mid-teens and an Adjusted EBITDA margin target of 4% to 6%."

For earnings history and earnings-related data on Quest Resource Holding (QRHC) click here.

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