Origin Materials, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 29, 2024 at 04:12 pm EST
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Origin Materials, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 13.06 million. Net loss was USD 10.44 million compared to net income of USD 15.99 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to basic earnings per share from continuing operations of USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.07 compared to diluted earnings per share from continuing operations of USD 0.11 a year ago.
For the full year, revenue was USD 28.81 million. Net income was USD 23.8 million compared to USD 78.57 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to USD 0.57 a year ago. Diluted earnings per share from continuing operations was USD 0.17 compared to USD 0.55 a year ago.
Origin Materials, Inc. is a carbon negative materials company. The Company is specializing in technology that has the potential to replace petroleum-based materials with decarbonized materials in a range of end products, including food and beverage packaging, clothing, textiles, plastics, car parts, carpeting, tires, adhesives, soil amendments and fuels. It has also developed other products that can enhance sustainability, such as its 100% polyethylene terephthalate (PET) circular caps and closures that can enable fully-recyclable PET containers and reduce waste through light-weighting, while providing performance such as greater oxygen and carbon dioxide (CO2) barrier properties that can increase shelf-life. The Company has developed a biomass conversion technology to convert biomass, or plant-based carbon, into the versatile building block chemicals chloromethylfurfural (CMF) and hydrothermal carbon (HTC), as well as other oils and extractives and other co-products.
ORIGIN MATERIALS, INC. 
