Q3 sales probably will be $152 million, down from the prior outlook of $158 million to $168 million with results from both the Arcadia Products and DynaEnergetics segments weaker than expected, the company said.

Adjusted EBITDA in Q3 probably will be $5 million versus the previous forecast of $15 million to $18 million, the company said.

Results in Q3, expected Nov. 4, will include a charge of $142 million reflecting Arcadia's recent financial performance and near-term outlook.

The company ceased actively marketing its DynaEnergetics and NobelClad businesses.

"Given the challenges of the last several months for DMC, including macroeconomic factors such as weakness and volatility in the energy market, the board believes that prioritizing stability, simplification and internal improvement will better serve DMC's stockholders than selling these market-leading businesses at the present time," according to a statement.

David Aldous stepped down as independent chairman and board member, while director James O'Leary agreed to serve as executive chairman, the company said.

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