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Comstock posts Q3 net loss as solar recycling ramps up

By Reuters News


Overview

  • US clean energy recycler completed mining asset sale, posted Q3 net loss of $0.8 mln

  • Company authorized share repurchase program for up to 15 mln shares

  • Solar recycling facility commissioned; deferred revenue for billed recycling services rose to $4.55 mln


Outlook

  • Company expects solar recycling facility to operate at 25% or more of capacity in Q4

  • Company expects to complete all 2026 objectives, including ramping solar recycling operations

  • Future revenue growth tied to production scaling, new contracts, pricing and recovery economics


Result Drivers

  • SOLAR RECYCLING RAMP-UP - Co said commissioning and ramp-up of its solar recycling facility drove increased activity and customer deliveries

  • METALS RECOVERY INITIATIVES - Co advanced testing and design of metals recovery solutions, including a pilot for silver extraction

  • CUSTOMER CONTRACTS - Co cited increased panel flow, new supply contracts, and issuance of Certificates of Destruction to major customers as supporting revenue growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Loss Per Share

$0.01

Q3 Net Loss

$800,000


Reuters Recommended Reads

  • Nov 3 - Enlight Renewable Q3 revenue rises 40% on new projects

  • Nov 3 - Primoris Services Q3 revenue falls on lower renewables revenue

  • Nov 4 - Foresight Solar Fund Q3 NAV per share falls as discount rates increase


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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