Plastic recycling firm PureCycle's Q2 revenue jumps less than expected
PCT•Analyst coverage
- The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the environmental services & equipment peer group is "buy"
- Wall Street's median 12-month price target for PureCycle Technologies, Inc. is $10.00, about 45.6% above its August 5 closing price of $6.87
Outlook and spending plans
- Company expects branded sales volumes to build through second half as compounding scales
- Ironton breakeven remains a second-half 2026 goal
- 2026 project spend expectations raised to $45-50 mln, up from prior $39-45 mln range
Q2 results and key drivers
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U.S. plastic recycling firm's Q2 revenue rose 173% yr/yr but missed analyst expectations
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Company posted a net loss of $142.2 mln for Q2
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First P&G commercial resin deliveries began; New Jersey approved PureFive resin as recycled content
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New commercial deliveries - Co began first P&G commercial resin deliveries and added new customer conversions in Q2
