BOOM - DMC Global Q3 earnings beat estimates; announces ATM program of $75M

DMC Global ([[BOOM]] +12.3%) reported Q3 sales that exceeded the high end of guidance, primarily driven by improved customer demand at DynaEnergetics, Oilfield Products business, as well as better than expected shipments at NobelClad, composite Metals business. Consolidated sales were $55.3M, up 28% sequentially and down 45% versus the third quarter of 2019.Increase in activity in North America coupled with DynaEnergetics efforts to align with operators and service companies led to a 122% sequential improvement in North American revenue, albeit off a very low second quarter base.Sequentially, Adjusted EBITDA improved to $6M, vs. negative $1.8M in Q2.Additionally, the company filed a prospectus supplement to establish an at-the-market offering program,to sell shares worth of up to $75M. Proceeds will be used for general corporate purposes.Ended the quarter with net cash of $12.6M.For Q4, sales are forecasted to be in a range of $50-$55M, with $20M-$22M from NobelClad and ~$30M-$33M from DynaEnergeticsConsolidated gross margin is

For further details see:

DMC Global Q3 earnings beat estimates; announces ATM program of $75M