NASDAQ$PCT
PureCycle Technologies Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
PureCycle's Ironton facility neared mechanical completion, secured a $150 million line of credit, and selected its first European PP recycling facility location.
PureCycle Technologies announced its Q4 2022 results, highlighting the near completion of its Ironton facility, a new line of credit, and expansion into Europe. The company is focused on commencing commercial production and ramping up operations at Ironton.
- Ironton facility is nearly mechanically complete, with final systems expected to be complete in April.
- A mutually agreeable limited waiver was executed with the Ironton Bondholders.
- A $150 million line of credit was secured for general working capital purposes.
- The first European polypropylene recycling facility location was selected at the Port of Antwerp-Bruges in Belgium.
Headline financials
Revenue & EPS history
PureCycle · Revenue · Quarterly
$4.13M
Forward guidance
PureCycle is focused on completing the Ironton facility, commencing commercial production, and ramping up operations. They are also planning expansion in Augusta, Georgia, and Europe, while managing their capital resources.
Tailwinds
- Expect to reach mechanical completion of Ironton facility by early April.
- Expect to be on track for commercial production of pellets and be in a position to ramp-up production by the end of April.
- Secured a $150 million revolving line of credit to be available for general working capital purposes.
- Continue to move forward on engineering and pre-construction activities at its planned multi-line purification facility in Augusta, Georgia.
- Anticipate construction activities to commence in the first half of 2024, with production ramp-up currently anticipated in the first half of 2026 for European PP recycling facility.
Headwinds
- Experienced delays outside of direct control.
- Delay in start-up commissioning timeline was primarily due to engineering rework, extruder component deliveries, and extruder electric equipment damaged during commissioning.
- Inability to complete all construction activities by December 1, 2022.
- Currently forecasting another $39-45 million spend in 1Q23 for the Ironton Facility.
- The company is in various stages related to additional capital raises in order to further strengthen its balance sheet.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
+2.6%
Avg return
Earnings day
+3.2%
Avg return
5 days after
+11.4%
Avg return
30 days after
54%
13 / 24 earnings
Positive
+44.1%
Q4 2022
Best reaction
-22.3%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.4% | +29.2% | +63.7% | |
| Q4 2025 | -22.3% | -23.6% | -35.0% | |
| Q3 2025 | +9.9% | -0.1% | -3.3% | |
| Q2 2025 | +0.2% | +9.9% | +8.4% | |
| Q1 2025 | +15.1% | +20.9% | +50.6% | |
| Q4 2024 | -2.6% | -3.7% | -25.9% | |
| Q3 2024 | -10.5% | -5.2% | -1.3% | |
| Q1 2024 | -7.7% | -6.4% | +5.2% | |
| Q4 2023 | -17.1% | -15.1% | -6.0% | |
| Q3 2023 | -9.9% | -18.4% | +12.8% | |
| Q2 2023 | -5.0% | +3.5% | -21.8% | |
| Q1 2023 | +4.6% | -5.1% | +8.9% | |
| Q4 2022 | +44.1% | +21.8% | +32.2% | |
| Q3 2022 | -11.2% | -14.0% | -20.0% | |
| Q2 2022 | +14.7% | +15.4% | +9.7% | |
| Q1 2022 | +30.3% | +36.9% | +41.2% | |
| Q4 2021 | +11.6% | +8.4% | -5.2% | |
| Q3 2021 | -19.9% | -11.1% | -9.2% | |
| Q3 2020 | -19.9% | -11.1% | -9.2% | |
| Q2 2021 | +1.1% | -11.6% | -12.2% | |
| Q2 2020 | +1.1% | -11.6% | -12.2% | |
| Q1 2021 | +18.4% | +22.6% | +67.3% | |
| Q4 2020 | +18.4% | +22.6% | +67.3% | |
| Q1 2020 | +18.4% | +22.6% | +67.3% | |
| Q4 2019 | — | — | — |
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