DMC Global reported third-quarter sales of $172.8 million, up 14 percent year over year, and guided to lower fourth-quarter sales on seasonality and a planned plant shutdown.
DMC Global reported third-quarter 2026 consolidated sales of $172.8 million, up 14 percent from the year-ago quarter and up 10 percent sequentially, with sales and adjusted EBITDA both above the high end of management's forecast. The Broomfield, Colorado manufacturer said its businesses benefited from initiatives implemented over the past two years to improve financial and operating performance, despite challenging and volatile end markets.
Adjusted EBITDA attributable to DMC, excluding $5.4 million in tariff refunds, was $13.6 million, up 59 percent from the third quarter of 2025 and up 48 percent sequentially. Including the tariff refunds, adjusted EBITDA attributable to DMC was $19.0 million. Total debt was $51.7 million, while net debt was $13.7 million, the lowest level since the December 2021 acquisition of 60 percent of Arcadia, down from $30.5 million at the end of the second quarter.
Arcadia Products, the building products business, led the improvement, with sales of $76.9 million, up 25 percent year over year and 14 percent sequentially, and adjusted EBITDA attributable to DMC of $6.8 million, up 32 percent. DynaEnergetics, the energy products business, delivered relatively flat sales with adjusted EBITDA of $11.9 million including the tariff refunds. NobelClad reported sales of $28.8 million with an order backlog of $72.4 million.
DMC's release supplies the sales, EBITDA and guidance figures used here, and TradingView and Seeking Alpha report the same totals. The release presents earnings on both a reported and an adjusted basis, and the two presentations differ, so no per-share figure is used in this report.
For the fourth quarter, DMC forecast sales of $154 million to $164 million and adjusted EBITDA of $10 million to $13 million, a sequential decline the company attributed to normal Arcadia seasonality, a planned two-week maintenance shutdown at its California finishing plant, continued pressure from interest rates and aluminum costs, and fewer long-cycle projects. Defense work contributed approximately $0.75 million in the quarter, but management described it as very early stage and did not include it in guidance.