Danimer Scientific Inc. (DNMR)
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Danimer Scientific, Inc. (DNMR) Q3 2024 Earnings Call Transcript
Danimer Scientific, Inc. (NYSE:DNMR ) Q3 2024 Earnings Conference Call November 19, 2024 10:00 AM ET Company Participants Rich Altice - Interim CEO Mike Hajost - CFO Conference Call Participants Unidentified Company Representative Thank you, operator. Good morning, everyone, and thank you for joining us today on Danimer Scientific's 2024 Third Quarter Earnings Call.
Danimer Scientific, Inc. (DNMR) Reports Q3 Loss, Tops Revenue Estimates
Danimer Scientific, Inc. (DNMR) came out with a quarterly loss of $0.24 per share versus the Zacks Consensus Estimate of a loss of $8. This compares to loss of $15.60 per share a year ago.
What Makes Danimer Scientific (DNMR) a New Buy Stock
Danimer Scientific (DNMR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
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Danimer Scientific Inc. Profile
| Specialty Retail Industry | Consumer Discretionary Sector | Mr. Richard J. Hendrix CEO | NYSE Exchange | US2362721001 ISIN |
| US Country | 257 Employees | - Last Dividend | 13 Nov 2024 Last Split | 28 May 2020 IPO Date |
Overview
Danimer Scientific, Inc. stands as a prominent performance polymer company dedicated to offering eco-friendly alternatives to traditional petroleum-based plastics. With a broader global footprint encompassing the United States, Germany, Poland, Belgium, Austria, and other international markets, the company is at the forefront of addressing the urgent need for sustainable materials. Since its inception in 2004 and headquartered in Bainbridge, Georgia, Danimer Scientific has been pioneering the development and production of biodegradable plastic feedstock, primarily focusing on mitigating the environmental impacts associated with plastic waste. Through its innovative approaches, the company caters to a wide spectrum of industry needs, ranging from consumer packaging to manufacturing processes in the plastics sector.
Products and Services
- Polyhydroxyalkanoate (PHA) under the Nodax brand name:
This biodegradable plastic feedstock alternative is a flagship product of Danimer Scientific. Designed to decompose naturally, it serves as an eco-friendly replacement for conventional plastics. The Nodax brand is applied in a myriad of products including films, straws, cutlery, and food containers, showcasing its versatility and potential to significantly reduce plastic pollution.
- Polylactic Acid-Based Resins:
Another innovative product line includes polylactic acid (PLA)-based resins. These resins are used predominately for coating disposable paper cups, which is a step towards reducing the reliance on synthetic coatings that are difficult to recycle. PLA-based resins embody the company’s commitment to environmental sustainability by providing a viable, biodegradable coating solution for single-use products.
- Other Biopolymers:
Danimer Scientific also develops a range of other biopolymers tailored for specific applications. These materials find their uses in additives, aqueous coatings, fibers, filaments, films, thermoforming, and injection-molded articles. The broad applicability of these biopolymers underscores Danimer Scientific's role in pioneering solutions that meet the diversified needs of the plastics industry while fostering sustainability.
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