Danimer Scientific reports Q3 EPS (39c) vs (94c) last year

Reports Q3 revenue $10.948M, consensus $14.74M. Stephen Croskrey, Chairman and Chief Executive Officer of Danimer, commented, “We are excited to announce that new business awards associated with a large Quick Service Restaurant program for Nodax-based biodegradable cutlery have been issued to several of our converter partners. Total demand for our product is expected to be approximately 20 million pounds per year at full run-rate, with first shipments expected to begin in the second half of next year. With these cutlery awards, we’ve now opened another significant product category for our PHA-based resins, which further validates our product in the marketplace and will continue to drive volume across our manufacturing assets.”