DMC Global Reports Second Quarter Financial Results
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DMC Global (BOOM) Misses Q2 EPS by 16c
July 23, 2020 4:13 PM EDTDMC Global (NASDAQ: BOOM) reported Q2 EPS of ($0.29), $0.16 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $42.3 million versus the consensus estimate of $42.95 million.
Management Commentary President and CEO Kevin Longe said, The second quarter decline in unconventional well-completion activity came on faster and was more severe than anticipated. This situation was exacerbated as oilfield service companies utilized excess component inventory to address the limited number of well completions performed during the quarter. In addition, we were not immune to the severe pricing pressure impacting the entire oilfield services industry.
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