DMC Global: Jumps on surprise Q3 profit, sales outlook

Dmc Global

23/10/2020 18:36

** Shares of iron and steel company  BOOM.O  up 7.4% at
$37.23
    ** Co reports profit of 8 cents/shr vs Street est of a 9
cents/shr loss - Refinitive IBES data
    ** DMC Global sees Q4 sales of $50 mln-$55 mln, higher than
analysts' est of $51.2 mln
    ** Tudor, Pickering, Holt & Co says co reaping benefits of
U.S. completions activity rebounding nicely over course of Q3,
as it easily leap-frogged the Q3 earnings expectations bar
    ** Expects BOOM to continue outgrowing the market along the
way
    ** Co's DynaEnergetics unit says Q4 demand from N. America's
unconventional market will be consistent with Q3, although it
also expects a seasonal decline in international order volume
    ** Stock down ~18% YTD

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))