Danimer Scientific (DNMR) Reports In-Line Q1 EPS ; Provides Outlook

Danimer Scientific (NYSE: DNMR) reported Q1 EPS of ($0.26), in-line with the analyst estimate of ($0.26). Revenue for the quarter came in at $10.22 million versus the consensus estimate of $10.73 million.

Outlook

The Company reported first quarter results that were consistent with its prior expectations but noted near-term headwinds from the converter partner changes related to the Starbucks straw resin business. As such, the Company is making the following adjustments to its previously disclosed guidance:

Full-year Adjusted EBITDA is expected to remain in the previously disclosed range of $(22) million to $(32) million; however, the Company currently believes that it will fall closer to the lower end of that range.
Full-year capital expenditures are anticipated to remain in the previously disclosed range of $8 million to $10 million, which will support existing commitments related to the Bainbridge greenfield facility, maintenance expenditures and other capital projects.
Year-end liquidity, which comprises unrestricted cash and projected availability under the revolving credit facility, will be in the range of $25 million to $30 million.

For earnings history and earnings-related data on Danimer Scientific (DNMR) click here.

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