American Resources Corporation (NASDAQ:AREC) chief financial officer Kirk Taylor joined Proactive's Stephen Gunnion with details of the company's second-quarter performance, which saw a record rise in revenue.
The company expects its preliminary 2Q 2022 revenue to be $16.2 million as compared with $9.1 million in 1Q2022 and $393,210 in 2Q 2021, representing 78% quarter-over-quarter growth and over 4000% year-over-year growth, respectively.
Taylor attributed the gains to the significant effort put forward by its team to expand in a challenging supply chain environment.
Additionally, he said the company's extensive asset base, reserves and permits put it in a unique position to capitalize on strong markets and provide supply growth to its customer base.