Neo Performance Materials Inc T.NEO

Alternate Symbol(s): NOPMF

Chemicals Specialty Chemicals

Neo Performance Materials Inc. is a Canada-based company, which is engaged in the green energy transition by manufacturing the building blocks of many technologies that enhance sustainability. The Company's segments include Magnequench, Chemicals and Oxides (C&O), Rare Metals and Corporate. The Magnequench segment manufactures bonded neodymium-iron-boron (NdFeB or neo) powders and bonded permanent magnets. This segment produces bonded magnets (Magnequench Magnets) made from its various Magnequench powder grades. The C&O segment manufactures and distributes a range of advanced industrial materials. Applications from these products include automotive catalysts, permanent magnetics, medical devices, and wastewater treatment. The Rare Metals segment sources, reclaims, produces, refines, and markets specialty metals and their compounds. These products include both high-temperature metals (tantalum, niobium, hafnium and rhenium) and electronic metals (gallium and indium).

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Neo Performance Materials Inc

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Post by midardon Aug 12, 2022 8:06am

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Post# 34890772

Neo sets new records for revenue, net income, and ...

https://www.newswire.ca/news-releases/neo-performance-materials-reports-record-second-quarter-2022-results-866197645.html

Q2 2022 Highlights

(unless otherwise noted, all financial amounts in this news release are expressed in U.S. dollars)

Neo sets new records for revenue, net income, and Adjusted EBITDA(1) for the six months ended June 30, 2022, since re-emerging as a public company in 2017.
Q2 2022 revenue of $168.2 million, higher by 24.5% YoY.
Operating income of $21.0 million in the quarter, higher by 15.2% YoY.
Adjusted Net Income(1) of $15.9 million in the quarter, or $0.39 per share.
Adjusted EBITDA(1) of $26.5 million in the quarter, higher by 19.3% YoY.
Cash balance of $66.2 million after distributing $6.3 million for the six months ended June 30, 2022 in dividends to shareholders.
A quarterly dividend of Cdn$0.10 per common share was declared on August 11, 2022 for shareholders of record at September 20, 2022, with a payment date of September 29, 2022.
Neo's Board of Directors have appointed Mr. Yadin Rozov and Ms. Zhe Zhao as directors of the Company to fill the vacancies resulting from the resignation of Mr. Brook Hinchman and Mr. Gregory Share.