Plastic recycling firm PureCycle's Q2 revenue jumps less than expected
Plastic recycling firm PureCycle's Q2 revenue jumps less than expected
Overview
U.S. plastic recycling firm's Q2 revenue rose 173% yr/yr but missed analyst expectations
Company posted a net loss of $142.2 mln for Q2
First P&G commercial resin deliveries began; New Jersey approved PureFive resin as recycled content
Outlook
Company expects branded sales volumes to build through second half as compounding scales
Ironton breakeven remains a second-half 2026 goal
2026 project spend expectations raised to $45-50 mln, up from prior $39-45 mln range
Result Drivers
NEW COMMERCIAL DELIVERIES - Co began first P&G commercial resin deliveries and added new customer conversions in Q2
REGULATORY APPROVALS - New Jersey approved PureFive resin as post-consumer recycled content, supporting demand
PLANNED TURNAROUND - Production of PureFive resin was down in Q2 due to a planned facility turnaround, which was completed ahead of schedule
Company press release: ID:nGNXbJt7Fn
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $4.51 mln | $6.10 mln (5 Analysts) |
Q2 Loss Per Share |
| $0.80 |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the environmental services & equipment peer group is "buy."
Wall Street's median 12-month price target for PureCycle Technologies, Inc. is $10.00, about 45.6% above its August 5 closing price of $6.87
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)