PureCycle Reports Q2 Revenue of $4.5 Million as Downy Detergent Caps Reach Shelves

EarningsCorporate Action
โดย Insider Monkey·US·Read original
Summary · why it matters

PureCycle Technologies reported second-quarter results for the period ended June 30, with revenue of $4.5 million, up roughly 173% from a year earlier and the sixth straight quarter of sequential growth. Select Downy detergent caps made with PureCycle's PureFive resin entered commercial production for Procter & Gamble during the quarter, the first branded product to reach store shelves, while select Tide caps are scheduled for retail production in the third quarter and Vicks ZzzQuil PURE Zzzs child-resistant lids are targeted for the fourth quarter of 2026. The company recorded seven customer conversions and six new commercial partnerships spanning closures, automotive, film, and food packaging, including Amcor, Motherson, and Innovia Films, and New Jersey's Department of Environmental Protection approved PureFive as post-consumer recycled content. PureCycle posted a net loss of $142.2 million for the quarter, adjusted EBITDA widened to a loss of $31.7 million from a loss of $27.8 million a year earlier, and PureFive production fell to 4.5 million pounds due to a planned turnaround, though output was still up about 32% from a year ago. The company closed the quarter with $236.9 million in total liquidity after issuing 19,854,000 new shares alongside $287.5 million of 4.75% convertible notes due 2032, and raised full-year 2026 project spending guidance to a range of $45 million to $50 million from the prior $39 million to $45 million.

Impact on stocks 4

Climate Adaptation & Water▲ · 1 stocks
Consumer Staples▲ · 1 stocks
Procter & Gamble Company
PG
▲ PositiveDemandrelevance

Downy detergent caps made with PureFive resin entered commercial production, with Tide caps and ZzzQuil lids to follow.

Materials▲ · 1 stocks
Amcor PLC
AMCR
▲ PositiveDemandrelevance

Named among six new commercial partnerships spanning closures, automotive, film and food packaging for PureFive resin.

Energy Transition & Power Demand▲ · 1 stocks

Off-coverage companies 2

Innovia FilmsPrivate▲ Positive
Demandrelevance

Named among the six new commercial partnerships for PureCycle's PureFive recycled resin.

Samvardhana Motherson InternationalPrivate▲ Positive
Demandrelevance

Named among the six new commercial partnerships for PureCycle's PureFive recycled resin.

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