Record Q2 2022 quarterly revenues of $16.2 million which represents the best in Company's history with significant expansion opportunities over the balance of the year
Company's carbon platform well positioned to capitalize on continued market strength and opportunities over the next several years
FISHERS, IN / ACCESSWIRE / July 19, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today reported its preliminary revenue for its second quarter ended June 30, 2022.
American Resources expects its preliminary second quarter 2022 revenue to be $16.196 million as compared with $9.08 million in the first quarter 2022 and $393,210 in the second quarter 2021, representing 78% quarter-over-quarter growth and over 4000% year-over-year growth, respectively.
Kirk Taylor, CFO of American Resources commented, "The team has put forth significant effort to expand in these challenging supply chain environments. Our extensive asset base, reserves and permits put us in a unique position to capitalize in these incredibly strong markets and provide supply growth to our customer base. We feel our preliminary results for the second quarter of this year showcase the beginning of a significant infliction point for our carbon business at a time that we continue to drive significant innovation in the critical and rare earth element space. We will continue to evaluate opportunities for expansion and optimization to expand cash flow and drive value for the shareholders."
American Resources expects to report its full second quarter of 2022 by the filing deadline of August 15, 2022. The Company will also hold a quarterly conference call and business update and will soon announce participation details for interested parties.
American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.
About American Resources Corporation
American Resources Corporation is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
Precision Public Relations
JTC Team, LLC
RedChip Companies Inc.
Vice President of Corporate Finance and Communications
317-855-9926 ext. 0
SOURCE: American Resources Corporation
View source version on accesswire.com: