Danimer Scientific (DNMR) Tops Q2 EPS by 4c ; Provides Outlook

Danimer Scientific (NYSE: DNMR) reported Q2 EPS of ($0.19), $0.04 better than the analyst estimate of ($0.23). Revenue for the quarter came in at $7.6 million versus the consensus estimate of $8.98 million.

Outlook

The Company reported second quarter results that were consistent with its expectations including the impact of the reapportionment related to the Starbucks straw resin business. The Company anticipates that these headwinds will continue into the third quarter but with a much lower impact compared to the second quarter. As such, the Company is making the following adjustments to annual guidance:

Full-year Adjusted EBITDA is now expected to be in the range of $(30) million to $(35) million.
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 $15 million to $20 million.

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

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