DMC Global Inc. (NASDAQ:BOOM) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET
Company Participants
Geoff High - Vice President, Investor Relations
Kevin Longe - President and CEO
Mike Kuta - Chief Financial Officer
Conference Call Participants
Cameron Lochridge - Stephens
Stephen Gengaro - Stifel
Gerry Sweeney - ROTH Capital
Jim Brilliant - Century Management
Operator
Good day, ladies and gentlemen. And welcome to the DMC Global Second Quarter Earnings Call. At this time, all participants have been placed on a listen-only mode and the floor will be open for questions-and-comments after the presentation.
It is now my pleasure to turn the floor over to your host, Geoff High, Vice President of Investor Relations. Sir, the floor is yours.
Geoff High
Hello. And welcome to DMC’s second quarter conference call. Presenting today are President and CEO, Kevin Longe; and CFO, Mike Kuta.
I’d like to remind everyone that matters discussed during this call may include forward-looking statements that are based on our estimates, projections and assumptions as of today’s date, and are subject to risks and uncertainties that are disclosed in our filings with the SEC.
Our business is subject to certain risks that could cause actual results to differ materially from those anticipated in our forward-looking statements. DMC assumes no obligation to update forward-looking statements that become untrue because of subsequent events.
A webcast replay of today’s call will be available at dmcglobal.com after the call. In addition, a telephone replay will be available approximately two hours after the call. Details for listening to the replay are available in today’s news release.
And with that, I will now turn the call over to Kevin Longe. Kevin?
Kevin Longe
Good afternoon and thank you for joining us for today’s call. Our second quarter financial results exceeded the high end of our guidance, driven by healthy end market demand, improved pricing and strong execution by our employees. Our consolidated second quarter sales were record $165.8 million, up 20% from the first quarter and up 153% versus the second quarter of 2021.
Excluding revenues from Arcadia, which we acquired a 60% controlling interest in during last year’s fourth quarter, second quarter sales were up 26% sequentially and up 37% versus the second quarter last year.
Second quarter sales at DynaEnergetics, our energy products business increased 38% sequentially to $67.5 million. The improvement was driven by an increase in international orders and very strong demand from North America’s onshore oil and gas industry.