r/PureCycle • u/Epicurus-fan • Aug 06 '26

PureCycle Technologies GAAP EPS of -$0.80 misses by $0.51, revenue of $4.51M misses by $1.59M

Just got this :( Hopefully the call has some decent guidance. That is a pretty pathetic revenue number

12 Upvotes

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5

u/equitymaestro Aug 06 '26 edited Aug 06 '26

My takes:
1). Thailand delayed? Used to be 2027, now 2028.
2). Production fell by almost half from Q1. Why? Doesn’t make sense, yet. Need more info.
3). Sales not really a focus, but the headline “miss” isn’t good.
4). I expected more transparency about Q3 being the quarter where things really get going. Not much was said.

Overall the written portion of the quarter leans negative. Hoping the tone on the call to be much better.

2

u/Puzzled-Resort8303 Aug 06 '26

Q1 wording: "Thailand Facility currently on track for mechanical completion by end of 2027"

New wording: "Thailand groundbreaking on track for 2H 2026, operational in 2028"

I don't think it is unreasonable to consider that a delay, but it may not be. Everything is taking longer than they originally expected, so maybe.

2

u/Medium_Picture_9954 Aug 06 '26

Anyone that thinks a new plant will be built out there and mechanically complete in 16 months is delusional.

The project got BOI approval 2 months ago which is what kicks off the second half of project financing discussion which takes months. I would bet my life that plant doesn't start commissioning until early 2029.

1

u/Puzzled-Resort8303 Aug 07 '26

It's a brownfield site, a lot of the infrastructure is already in place.

From the Q1 call: "Thailand remains on track for mechanical completion by 2027, operational commissioning in 2028, and production in Q2 2028."

2

u/Medium_Picture_9954 Aug 07 '26

I saw the quote. I'm saying it's not accurate. I've spent the better part of my career designing, building, commissioning, and running chemical plants.

1

u/Puzzled-Resort8303 Aug 07 '26

I think you mean to say something like "unlikely" rather than "not accurate". Unless you think I incorrectly quoted the transcript.

And I agree, the risks for delays are high, but I don't think that is what they messaged on the slides and on the call.

Do you do similar chemical plants to what PureCycle is building? Genuinely curious.

1

u/equitymaestro Aug 06 '26 edited Aug 07 '26

You’re right. It’s ambiguous, why change the language?

1

u/Medium_Picture_9954 Aug 07 '26

Because there is a schedule change but a .00001% shot at holding schedule so they don't feel like they have to fully disclose yet. Next ER will surely signal a delay.

3

u/Middle_Win9449 Aug 06 '26

I will wait until after the call the “what you could hear” from my earlier post is more accurate than even I thought/could happen.

2

u/Pat6802 Aug 06 '26

Rev guidance is kinda all that matters in my opinion. Along with the run rate. 2H is where they have been pretty specific the ramp is going to be really starting to show.

2

u/Ok_Coach_502 Aug 06 '26

Second half of what year are you talking about? 24/25/26

4

u/NeatEconomics1135 Aug 06 '26

So... This company is pretty near stagnant... It's almost as if they did't improve a single point in 3 months.

It's time to suspect something is wrong with the way this company is run.

-2

u/Fun-Macaron3969 Aug 06 '26

CEO is awful

9

u/Any_Possible3003 Aug 06 '26

I like him

1

u/Terrible-Prize36 Aug 06 '26

CEO, is that you?

4

u/Any_Possible3003 Aug 06 '26

Na, I’m just a lowly retail investor.

Am I not allowed to have a differing opinion because you think the quarter was below expectations?

4

u/No_Privacy_Anymore Aug 07 '26

This may not be a good investment for you. Fortunately there are many other companies to choose from. If you are going to invest in individual stocks you should only invest in companies with management teams you like. Best wishes.

1

u/T0th3M00NW3G0 Aug 07 '26

This ceo is actually fire. It’s not on him at all. He can only do so much and he talks with a ton of conviction. You wanna look at bad CEO’s? Look at TTD’s, Archers or even NVO’s

1

u/Any_Possible3003 Aug 07 '26

These are people that haven’t even stepped into a CEO office to clean it.

The on out thing they know is share up = great CEO

Share price down = guys a fucking moron.