- Vertex Resource Group has reported its financial and operational results for the three and six months ending June 30, 2021
- Second quarter highlights include net income of $0.2 million compared to a net loss of $0.7 million in Q2 2020
- Revenue of $38.1 million compared to $28.3 million in Q2 2020
- Highlights for the six months ended June 30, 2021 include revenue of $71.1 million
- Net loss of $0.4 million compared to $6.3 million the prior year
- Vertex is a leading North American provider of environmental services
- Vertex Resource Group Ltd. (VTX) opened trading at C$0.43 per share
Vertex Resource Group (VTX) has reported its financial and operational results for the three and six months ending June 30, 2021.
Highlights for the three months ending June 30, 2021
- Second quarter adjusted EBITDA of $7.5 million compared to $6.7 million in Q2 2020
- Net income of $0.2 million in Q2 2021 compared to a net loss of $0.7 million in the same period of 2020
- Second quarter revenue of $38.1 million compared to $28.3 million in Q2 2020
- The company extended the maturity date of its secured credit facilities by one year to May 31, 2023
- Free cash flow amounted to $6.5 million compared to $7.1 million in Q2 2020
Highlights for the six months ending June 30, 2021
- Revenue increased to $71.1 million from $66.7 million for the same period in 2020
- Adjusted EBITDA amounted to $12.2 million for the six months of 2021 compared to $12.0 million in 2020
- Net loss for the six months ended June 30, 2021 was $0.4 million compared to $6.3 million the prior year
- Free cash flow amounted to $10.5 million compared to $11.8 million in H1 2020
During the second quarter of 2021, the company achieved a historically high adjusted EBITDA and net earnings. The remainder of 2021 is expected to see continued positive momentum for Vertex’s services.
Vertex Resource Group Ltd is a provider of environmental services and solutions, offering a unique combination of consulting, field services and modern equipment. From initial site selection, consultation and regulatory approval, through construction, operation and maintenance, to conclusion and environmental cleanup, Vertex provides a wide array of services to customers operating in the energy, mining, utilities, private development, public infrastructure, construction, telecommunications, forestry, agriculture and government sectors.
Vertex principally operates in Canada with select locations in the United States.
Vertex Resource Group Ltd. (VTX) opened trading at C$0.43 per share.