DMC Global Inc. reported a significant decline in financial performance for the fiscal year ending December 31, 2024, with consolidated net sales of $642.9 million, an 11% decrease from $719.2 million in 2023. The company's gross profit margin also fell to 23.4%, down from 29.5% the previous year, primarily due to lower sales volumes in its Arcadia Products segment and pricing pressures in DynaEnergetics. The company recorded a net loss of $151.96 million, compared to a net income of $34.76 million in 2023, largely attributed to a $141.73 million goodwill impairment charge related to Arcadia Products.
In terms of operational changes, DMC Global underwent several leadership transitions, including the appointment of James O'Leary as Interim President and CEO following the retirement of Michael Kuta. The company also initiated a strategic review of its DynaEnergetics and NobelClad segments in January 2024, although it later announced in October that it would no longer actively market these segments. The company’s employee headcount stood at approximately 1,600 as of December 31, 2024, with a significant portion engaged in manufacturing operations.
DMC Global's business segments showed varied performance. Arcadia Products, which accounted for 38.8% of total sales, experienced a 16% decline in revenue, primarily due to reduced demand in high-end residential markets. DynaEnergetics, contributing 44.8% of sales, saw a 9% decrease in revenue, driven by pricing pressures amid industry consolidation. Conversely, NobelClad's sales remained stable at $105.4 million, reflecting consistent demand for its products in energy and petrochemical markets.
The company’s outlook for 2025 suggests a cautious approach, with expectations of flat to modestly improved sales in the first quarter for Arcadia Products, while DynaEnergetics anticipates slight growth in North America. DMC Global is focusing on stabilizing its operations and enhancing its product offerings, particularly in response to ongoing market challenges. The company is also monitoring the potential impacts of evolving U.S. and international tariff policies on its operations and financial performance.
About DMC Global Inc.
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