Waste and recycling services provider Quest Resource (NASDAQ: QRHC) will report earnings this Monday afternoon. Here’s what to expect.
Quest Resource missed analysts’ revenue expectations by 17.9% last quarter, reporting revenue of $59.54 million, down 18.6% year over year. It was a disappointing quarter for the company, with a significant error in analyst revenue estimates and a significant error in analyst EBITDA estimates.
Is Quest Resource a Profit Making Buy or Sell? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts expect Quest Resource’s revenue to decline 17.8% year over year to $59.83 million, a reversal from the 3.3% increase recorded in the same quarter last year. The adjusted loss is expected to be -$0.01 per share.
Analysts covering the company have generally reconfirmed their estimates over the past 30 days, suggesting they expect the company to stay the course before reporting profits. Quest Resource has missed Wall Street revenue estimates twice since its IPO.
Looking at Quest Resource’s peers in the waste management segment, some have already released their third quarter results, giving us an idea of ​​what we can expect. Montrose reported year-over-year revenue growth of 25.9%, beating analysts’ expectations of 10.9%, and Waste Connections reported revenue up 5.1%, beating estimates by 0.5%. Montrose rose 5.8% following the results, while Waste Connections also rose 2.7%.
Read our full analysis of Montrose’s results here and Waste Connections’ results here.
Investors have felt positive sentiment in the waste management segment, with stock prices up 2.2% on average over the past month. Quest Resource is up 10.5% in the same period and headed for profits with an average analyst price target of $3.08 (compared to the current stock price of $1.47).
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