DMC Global Inc. (NASDAQ:BOOM) Q2 2024 Results Conference Call August 1, 2024 5:00 PM ET
Company Participants
Geoff High - Vice President, Investor Relations
Michael Kuta - Chief Executive Officer
Eric Walter - Chief Financial Officer
Conference Call Participants
Gerry Sweeney - Roth Capital Partners
Stephen Gengaro - Stifel
Ken Newman - KeyBanc Capital Markets
Operator
Greetings, and welcome to the DMC Global Second Quarter Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Geoff High, VP of IR. Thank you. You may begin.
Geoff High
Hello, and welcome to DMC's second quarter conference call. Presenting today are DMC CEO, Michael Kuta; and Chief Financial Officer, Eric Walter. 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.
Today's earnings release and a related presentation on our second quarter performance are available on the Investors page of our website located at dmcglobal.com. A webcast replay of today's presentation will be available at our website shortly after the conclusion of this call.
And with that, I'll turn the call over to Michael Kuta. Michael?
Michael Kuta
Hello, and thank you for joining us today. DMC reported second quarter sales of $171.2 million and adjusted EBITDA attributable to DMC of $19.4 million. Our results represent a sequential rebound versus the first quarter and were achieved despite continued weakness in our primary construction and energy products markets. The results also were above the high end of our guidance range.
Arcadia, our Building Products business was a key driver in our improved financial performance, reporting second quarter sales of $69.7 million and gross margin of 33.2%. Gross margin was up 600 basis points from the first quarter. In the comparable quarter last year, Arcadia's gross profit was 34.7%, which was their best margin performance since we acquired the business in December 2021. Arcadia's second quarter adjusted EBITDA margin was 17.8% versus 9.5% in the first quarter and 20.8% in the year ago second quarter.