Perimeter Solutions(PRM) Newsfile·2025-02-20 11:00Core Insights - Perimeter Solutions reported a net loss of $5.9 million for the full year 2024, with an adjusted earnings per diluted share of $1.11, indicating a significant operational transformation despite the loss [1][4][24] - The company achieved a 74% increase in full-year net sales, reaching $561 million, driven primarily by a 93% increase in Fire Safety net sales [4][9] - Adjusted EBITDA for the full year increased by 190% to $280.3 million, showcasing strong operational performance [4][19] Financial Performance - Fourth quarter net sales rose by 45% to $86.2 million compared to $59.5 million in the prior year quarter [3][9] - Full-year net sales for Fire Safety increased by 93% to $436.3 million, while Specialty Products net sales grew by 29% to $124.7 million [4][10] - The company reported a fourth quarter net income of $144.2 million, or $0.90 per diluted share, a significant turnaround from a net loss of $13.2 million in the prior year quarter [9][14] Operational Developments - Perimeter Solutions acquired IMS DE Holdings, LLC for $32.8 million, expanding its product offerings into printed circuit boards [5] - The company’s operational value drivers have transformed, with adjusted EBITDA approximately doubling over three years with minimal end-market contribution [1][4] Segment Performance - Fire Safety Adjusted EBITDA increased by 215% to $240.1 million for the full year, while Specialty Products Adjusted EBITDA rose by 95% to $40.2 million [4][23] - In the fourth quarter, Fire Safety net sales increased by 72% to $60.7 million, while Specialty Products net sales saw a 6% increase to $25.5 million [9][10] Cash Flow and Capital Allocation - The company ended the year with cash and cash equivalents of $198.5 million, a significant increase from $47.3 million at the end of the previous year [15][18] - Net cash provided by operating activities for the year was $188.4 million, reflecting strong operational cash flow generation [17]