Quest Resource Holding Corp ( (QRHC) ) has released its Q4 earnings. Here is a breakdown of the information Quest Resource Holding Corp presented to its investors.
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Quest Resource Holding Corporation is a national provider of waste and recycling services, helping businesses achieve their environmental and sustainability goals through tailored solutions across various industries.
In its latest earnings report, Quest Resource Holding Corporation announced its financial results for the fourth quarter and fiscal year 2024, highlighting significant strategic moves such as debt refinancing and customer base expansion.
The company reported a slight increase in revenue to $70 million for the fourth quarter, with a gross margin of 15.3%, down from the previous year. Despite securing eight new clients and expanding service agreements, Quest faced a net loss of $9.5 million, attributed to a $5.5 million impairment loss and other operational challenges. The fiscal year saw revenue remain relatively flat at $288.5 million, with adjusted EBITDA decreasing to $14.5 million.
Strategically, Quest made notable progress by refinancing its debt, reducing interest expenses by $1 million annually, and expanding its client base. The company also announced leadership changes with Perry Moss appointed as CEO and Nick Ober as SVP of Operations, alongside operational efficiency initiatives including a 15% reduction in headcount.
Looking ahead, Quest’s management remains committed to enhancing shareholder value through operational excellence and strategic initiatives aimed at improving profitability and client relationships, despite current challenges in execution and market conditions.