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Charah Solutions (NYSE:CHRA) has successfully completed three multi-year legacy projects: an ash pond closure in Arkansas, landfill construction in Kentucky, and a fly ash pond closure in Missouri. These achievements signal a significant transition for the company towards a more profitable financial profile. Charah's President & CEO, Scott Sewell, emphasized that the completion of these projects positions them to accelerate growth across five income streams, enhancing their capacity to tackle environmental challenges in the power generation sector.
Charah Solutions (NYSE:CHRA) has appointed Jonathan Batarseh as Chief Financial Officer and Treasurer, effective October 17, 2022. Batarseh, who reports to CEO Scott Sewell, brings over 20 years of financial leadership experience, including his role at Brown & Root Industrial Services. His expertise in cash management and operations integration is expected to support Charah's growth strategy. The company focuses on environmental services and byproduct recycling in the power generation sector, committed to reducing greenhouse gas emissions.
Charah Solutions (NYSE:CHRA) announced the award of an Ash Pond Closure project in southern Indiana, set to commence in mid-October 2022, lasting approximately two years. This project involves the removal of an 11-acre ash basin and includes dewatering, excavation of 366,000 cubic yards of coal combustion residuals (CCR), and the construction of a new lined collection pond. Charah Solutions emphasizes its commitment to compliance and sustainability, leveraging over 35 years of industry experience to address environmental challenges effectively.
Charah Solutions (NYSE:CHRA) will present at the AshTrans 2022 Global Conference on September 5, 2022, in Manchester, UK. Chief Commercial Officer Nathan Boone will discuss the company's EnviroSource℠ fly ash beneficiation technology at 3:15 pm BST, focusing on improving fly ash quality and supply for concrete producers. Charah Solutions specializes in recycling ash byproducts and offers comprehensive environmental services to the power generation industry. The company is committed to sustainability and reducing greenhouse gas emissions.
Charah Solutions (NYSE: CHRA) reported Q2 2022 revenue of $77.1 million, up from $63.5 million year-over-year. However, gross profit declined to $2.7 million from $6.9 million in Q2 2021. The company recorded a net loss of $9.6 million, compared to $4.2 million in the prior year. New awards for 2022 reached $328 million, and the backlog stands at $1.55 billion. Charah announced its first EnviroSource contract for fly ash recycling, which is expected to significantly reduce greenhouse gas emissions. Full-year revenue guidance was revised down to $310-$340 million.
Charah Solutions (NYSE: CHRA) has announced a rescheduling of its financial results release for the second quarter of 2022 to August 15, 2022, post-market close. The subsequent conference call will take place on August 16, 2022, at 8:30 a.m. ET. Investors can participate via this link or through a webcast on the company's website. A replay will be available after the call. The company is recognized for its environmental services in the power generation industry.
Charah Solutions (NYSE:CHRA) announced several significant contracts aimed at managing coal combustion residuals (CCR) across the Southeast. The projects include dewatering and excavation of 400,000 tons of CCR in Louisiana, and management of 1.7 million tons of CCR in Arkansas over a long-term landfill operation. Another contract involves the excavation of 750,000 cubic yards of CCR in Arkansas for ash pond closure. The company emphasizes its commitment to sustainability and regulatory compliance in servicing utility partners.
Charah Solutions (NYSE:CHRA) has been awarded a significant multi-pond ash pond excavation contract from a southeastern utility partner, marking one of the largest and longest projects in its history. Scheduled to commence in Q3 2022, the project will involve the excavation of approximately 4.3 million cubic yards of coal combustion residuals (CCRs) from three ash ponds, with an estimated 90% earmarked for recycling into the concrete industry. This project underscores Charah's commitment to environmental sustainability and expertise in managing regulatory challenges.
Charah Solutions (NYSE:CHRA) has announced the release of its second-quarter financial results on August 9, 2022, after market close, followed by a conference call on August 10, 2022, at 8:30 a.m. ET. Participants can register through a provided link and access a webcast on the company’s investor relations site. Charah Solutions, with over 30 years of industry experience, specializes in environmental services and byproduct recycling for the power generation sector, focusing on sustainable management of coal combustion ash.
Charah Solutions (NYSE:CHRA) has been recognized for the tenth consecutive year for its outstanding employee safety efforts, receiving four Gold-Level Safety Awards from the North Carolina Department of Labor for its projects in 2021. The Company achieved a Total Recordable Incident Rate (TRIR) of 0.32, with no lost time injuries, and a stellar three-year average Experience Modification Rate (EMR) of under 0.62. The awards highlight Charah's commitment to maintaining a safe working environment, crucial in the environmental services industry.