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PyroGenesis - CEO, P. Peter Pascali.
CEO, P. Peter Pascali.
Source: PyroGenesis.
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  • PyroGenesis (PYR) has provided a glimpse into its financial results for its third quarter ended September 30, 2021
  • The company expects Q3 revenue to be at least C$8 million, including positive net income and positive earnings per share
  • It will also report a backlog of signed contracts near all-time highs
  • PyroGenesis Canada designs, develops, manufactures and commercializes sustainable plasma processes and solutions
  • PyroGenesis (PYR) is unchanged trading at $4.74 per share

PyroGenesis (PYR) has provided a glimpse into its financial results for its third quarter ended September 30, 2021.

Based on financial information to date, and subject to any closing adjustments, the company expects Q3 revenue to be at least C$8 million.

This results in total revenue for the nine months ended September 30, 2021, of at least $22 million, compared to $8.1 million (Q3 2020) and $11 million (nine months ended September 30, 2020).

It also expects to report positive net income and positive earnings per share for the quarter.

Actual 2020Actual 2021Guidance 2021
Revenue
Q1$736,000$6.3M
Q2$2.1M$8.3M
Q3$8.1MTBD> $8M
Nine months ended September 30$11MTBD> $22M
Year end$17.78MTBD

P. Peter Pascali, CEO and Chair of PyroGenesis, stated,

“It is difficult for a company like ours to provide an early indication/guidance given the methodology relating to the accounting for our revenue; namely percentage of completion accounting. As one might expect, delays associated with supply chain issues complicate further this process. Nevertheless, we are happy to be providing the first glimpse of our third-quarter financial results.

We are proud to give guidance that essentially reflects record nine-month revenue and positive net income for the quarter. We also expect to post a backlog of signed contracts that will be very close to, if not at, a historically high level.”

PyroGenesis Canada designs, develops, manufactures and commercializes sustainable plasma processes and solutions.

PyroGenesis (PYR) is unchanged trading at $4.74 per share as of 9:33 am ET.

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