PureCycle Technologies (NASDAQ:PCT) Posts Earnings Results, Misses Estimates By $0.51 EPS

PureCycle Technologies (NASDAQ:PCT) announced its quarterly earnings data on Thursday. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.51), FiscalAI reports. The business had revenue of $4.51 million during the quarter, compared to analyst estimates of $6.11 million. PureCycle Technologies had a negative net margin of 1,618.84% and a negative return on equity of 517.87%.

Here are the key takeaways from PureCycle Technologies’ conference call:

• Operational improvements included completing the Ironton turnaround ahead of schedule and below budget, executing more than 170 projects, and achieving a new daily throughput record in June. The company also successfully tested process conditions intended for its planned Thailand and Antwerp plants.
• Commercial momentum accelerated, with revenue increasing for the sixth consecutive quarter, the first Procter & Gamble application entering commercial production, and PureFive shipments reaching major quick-service restaurant converters. Management said New Jersey’s recycled-content approval has fast-tracked qualification programs ahead of January 2027 mandates.
• Bringing compounding in-house is expected to improve supply-chain reliability, quality control, product customization, and economics, while enabling rail-car shipments and additional cup applications. Management maintained its target for Ironton to reach site-level cash breakeven in the second half of 2026 at approximately 40%–50% utilization.
• Liquidity rose to $236.9 million at quarter-end following a $450.5 million gross stock and convertible-notes offering. The refinancing reduced near-term debt pressure and interest costs, while the company said its capital is sufficient for the commercial ramp and near-term growth spending.
• PureCycle still reported a substantial second-quarter net loss of $142.2 million and negative adjusted EBITDA of $31.7 million. Full-year project spending guidance increased to $45 million–$50 million, and Thailand financing remains subject to negotiations targeted for financial close by year-end.

PureCycle Technologies Price Performance

Shares of PureCycle Technologies stock traded up $0.34 during mid-day trading on Friday, reaching $7.21. 6,701,224 shares of the stock were exchanged, compared to its average volume of 4,191,698. PureCycle Technologies has a fifty-two week low of $4.93 and a fifty-two week high of $15.49. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -4.94 and a beta of 2.57. The firm has a 50-day simple moving average of $8.09 and a 200 day simple moving average of $8.20. The company has a current ratio of 1.71, a quick ratio of 1.57 and a debt-to-equity ratio of 47.59.

Institutional Trading of PureCycle Technologies

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of PureCycle Technologies by 62.4% in the first quarter. Royal Bank of Canada now owns 1,042,338 shares of the company’s stock valued at $7,213,000 after acquiring an additional 400,520 shares during the last quarter. AQR Capital Management LLC grew its position in PureCycle Technologies by 67.9% during the 1st quarter. AQR Capital Management LLC now owns 20,963 shares of the company’s stock worth $145,000 after acquiring an additional 8,478 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in PureCycle Technologies by 4.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 36,571 shares of the company’s stock valued at $253,000 after purchasing an additional 1,516 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in PureCycle Technologies by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,249 shares of the company’s stock valued at $507,000 after purchasing an additional 3,161 shares in the last quarter. Finally, Millennium Management LLC bought a new position in PureCycle Technologies in the 1st quarter valued at $3,770,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PCT. Weiss Ratings reissued a “sell (e+)” rating on shares of PureCycle Technologies in a research note on Friday, June 5th. TD Cowen cut their price target on shares of PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Northland Securities set a $13.00 price objective on PureCycle Technologies in a report on Friday, June 12th. Alembic Global Advisors set a $16.00 price objective on PureCycle Technologies in a research note on Tuesday, June 16th. Finally, Cantor Fitzgerald dropped their target price on PureCycle Technologies from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.75.

PureCycle Technologies Company Profile

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.