Charah Solutions, Inc. (CHRA) Tops Q3 EPS by 10c, Revenues Miss

Charah Solutions, Inc. (NYSE: CHRA) reported Q3 EPS of $0.25, $0.10 better than the analyst estimate of $0.15. Revenue for the quarter came in at $186 million versus the consensus estimate of $216.37 million.

• Third quarter 2018 revenue of $186 million, an increase of 56% year over year
• Completed debt refinancing in September; to save approximately $8 million of interest expense in 2019
• Advancing roll-out of new technologies to improve competitive position and expand offerings
• Growing pipeline with more than $3 billion in outstanding bids
• Expecting strong fourth quarter 2018 financial results
• Expect to become significantly cash flow positive in first half of 2019

“In the third quarter, Charah Solutions reported solid financial results and achieved several significant financial and strategic milestones that we believe will position us for continued growth,” said Charles Price, President and Chief Executive Officer of Charah Solutions. “We recently refinanced our debt, which we expect to result in substantial annual interest savings; successfully deployed our MP618™ fly ash beneficiation technology, which will enhance our competitive position by ensuring a steady and reliable supply of fly ash for ready-mix concrete producers, and are nearing completion of a new facility for grinding granulated blast furnace slag from the steel industry. We see a robust pipeline of opportunities across all segments and remain committed to capitalizing on the growing need for environmental remediation, continually working to increase our market share and expand our service offerings, as well as executing on our technology deployment.”

For earnings history and earnings-related data on Charah Solutions, Inc. (CHRA) click here.

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