Unveiling the Numbers: Quest Resource Holding Corporation’s Impressive Fourth Quarter and Fiscal Year 2024 Financial Results
Added record eight new customers in 2024, reflecting strong value proposition
Refinanced debt in Q4, lowering interest expense by approximately $1 million annually, reducing blended interest rate by approximately 150 basis points
Reducing headcount by 15% and SG&A by $3.0 million annually as a result of ongoing operational efficiency gains and the anticipated exit of a non-core business line. Quest Resource Holding Corporation has also named Perry Moss as CEO and Nick Ober as SVP of Operations.
THE COLONY, Texas, March 12, 2025 (GLOBE NEWSWIRE) — Quest Resource Holding Corporation (Nasdaq: QRHC) (“Quest” or the “Company”), a national leader in environmental waste and recycling services, today announced financial results for the fourth quarter and fiscal year ended December 31, 2024.
Fourth Quarter 2024 Financial Highlights
Revenue was $70.0 million, a 0.9% increase compared with the fourth quarter of 2023.
Quest Resource Holding Corporation made significant strides in the fiscal year 2024 with the addition of eight new customers, signaling the company’s strong value proposition. The decision to refinance debt in Q4 resulted in a substantial reduction in interest expenses by approximately $1 million annually, along with a decrease in the blended interest rate by about 150 basis points. This strategic move showcases the company’s commitment to financial health and operational efficiency.
Additionally, Quest Resource Holding Corporation’s initiatives to streamline operations led to a 15% reduction in headcount and a $3.0 million annual saving in SG&A expenses. These efforts were supported by the anticipated exit of a non-core business line, highlighting the company’s focus on sustainable growth and profitability.
The appointment of Perry Moss as CEO and Nick Ober as SVP of Operations further strengthens Quest Resource Holding Corporation’s leadership team, positioning the company for continued success in the environmental waste and recycling services industry.
How it will affect me?
As a shareholder or investor in Quest Resource Holding Corporation, the impressive financial results for the fourth quarter and fiscal year 2024 are likely to have a positive impact on your investment. The company’s efforts to enhance operational efficiency, reduce expenses, and attract new customers demonstrate a commitment to sustainable growth and profitability. The refinancing of debt and reduction in interest expenses further contribute to the company’s financial health, potentially leading to increased shareholder value.
How it will affect the world?
Quest Resource Holding Corporation’s successful financial results for the fourth quarter and fiscal year 2024 have broader implications for the world. As a national leader in environmental waste and recycling services, the company’s efforts to expand its customer base, reduce operational costs, and improve efficiency contribute to a more sustainable future. By prioritizing environmental responsibility and financial stability, Quest sets an example for other organizations in the industry to follow, ultimately leading to positive impacts on the environment and society as a whole.
Conclusion
In conclusion, Quest Resource Holding Corporation’s impressive fourth-quarter and fiscal year 2024 financial results reflect the company’s commitment to sustainable growth, operational efficiency, and financial health. With the addition of new customers, debt refinancing, and strategic cost-saving initiatives, Quest has positioned itself for continued success in the environmental waste and recycling services industry. The appointment of new leadership further strengthens the company’s position in the market, signaling a promising future for Quest Resource Holding Corporation and its stakeholders.
