How We Evaluate Our Operations
We use a variety of financial and operational metrics to assess the performance of our operations, including:
Adjusted EBITDA and Adjusted EBITDA Margin
Key Factors Affecting Our Business and Financial Statements
Ability to Capture New Contracts and Opportunities
Project-Based Nature of Environmental Remediation Mandates
There is a growing demand for recycled coal ash across various applications driven by market forces and governmental regulations, creating the need to dispose of coal ash in an environmentally sensitive manner. Pricing of byproduct services and raw material sales are
Power Generation Industry Spend on Environmental Liability Management and Regulatory Requirements
The power generation industry has increased annual spending on environmental liability management. We believe this results from regulatory requirements, consumer pressure and the industry's increasing focus on environmental stewardship. Continued increases in spending on environmental liability management by our customers should result in increased demand for services across our platform.
Cost Management and Capital Investment Efficiency
Our remediation and compliance services primarily consist of designing, constructing, managing, remediating and closing ash ponds and landfills on customer-owned sites.
Our raw material sales provide customers with the raw materials essential to their business while also providing the sourcing, logistics, and management needed to facilitate these raw material transactions around the globe.
Gains on sales of real estate, property and equipment, net
Net loss attributable to Charah Solutions, Inc. $ (9,603) $ (4,166)
Net Loss. Net loss increased $5.4 million, or 130.5%, to $9.6 million for the three months ended June 30, 2022 as compared to $4.2 million for the three months ended June 30, 2021.
Six Months Ended June 30, 2022 Compared to Six Months Ended June 30, 2021
Gains on sales of real estate, property and equipment, net
Less (loss) income attributable to non-controlling interest
Net loss attributable to Charah Solutions, Inc. $ (21,643) $
increased project management-related expenses recognized for achievement of certain projects-related milestones and profitability levels on the Gibbons Creek ERT project and a full six months of expenses associated with operations on the Gibbons Creek ERT project in 2022.
Interest Expense, Net. Interest expense, net increased $2.5 million, or 38.0%, to $9.0 million for the six months ended June 30, 2022 as compared to $6.5 million for the six months ended June 30, 2021, primarily due to a higher weighted-average cost of capital associated with equipment financing and an increase in amortization of debt issuance costs.
Income from Equity Method Investment. Income from equity method investment decreased $0.2 million for the six months ended June 30, 2022 due to the dissolution of our joint venture in CV Ash in the first quarter of 2021.
Net Loss. Net loss increased $16.3 million, or (302.4)%, to $21.6 million for the six months ended June 30, 2022 as compared to $5.4 million for the six months ended June 30, 2021.
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