Water Tower Research has published an Initiation of Coverage Report on Arq, Inc. (NASDAQ: ARQ) titled, “Significant EBITDA Growth from Execution and Expansion into Faster- Growth Markets.”
PETERSBURG, FL, Oct. 07, 2024 (GLOBE NEWSWIRE) — October 7, 2024, ST. PETERSBURG, FL – Water Tower Research (www.watertowerresearch.com) has published an Initiation of Coverage Report on Arq, Inc. (NASDAQ: ARQ) titled, “Significant EBITDA Growth from Execution and Expansion into Faster- Growth Markets.” The report can be accessed here.
Arq, Inc. is a diversified environmental technology company focused on developing and providing solutions for air, water, and soil purification. The company is a leading producer of activated carbon, which is used for contaminant removal in various applications, including mercury removal from power plants, water purification, specialty gas cleaning, and soil and groundwater remediation.
Since new CEO Bob Rasmus took the helm in 2H23, Arq has delivered improving performance with its foundational and cash-generating powdered activated carbon (PAC) business through operational efficiencies, better contracting terms, and penetration of new markets. At the same time, the company is using its PAC business as a springboard into the higher-growth, more profitable, and broader granular activated carbon (GAC) market, which should drive significant EBITDA growth in the coming years.
Today, Arq trades at an EV/EBITDA multiple of 9.9x, below the peer group average of 12.2x. Moreover, Arq’s EBITDA is expected to grow at a CAGR of 80% between 2024 and 2027, compared with the peer group average of a 10.5% CAGR over the same period.
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