Welcome to our dedicated page for Englobal news (Ticker: ENG), a resource for investors and traders seeking the latest updates and insights on Englobal stock.
ENGlobal Corporation (NASDAQ:ENG) provides specialty engineering services focused on automation solutions and critical infrastructure projects across energy and government sectors. This news hub offers investors and industry professionals centralized access to official company announcements and material developments.
Our curated collection features verified press releases covering earnings reports, contract awards, operational updates, and strategic initiatives. Users can track ENGlobal's EPCM project milestones, automation system implementations, and government sector engagements through primary source documentation.
The resource prioritizes timely updates on engineering service innovations, safety certifications, and leadership changes that impact the company's market position. Content is organized for quick scanning while maintaining compliance with financial disclosure standards.
Bookmark this page for direct access to ENGlobal's latest corporate communications, including project completions, partnership announcements, and regulatory filings. Check regularly for updates reflecting the company's evolving role in energy automation and government infrastructure solutions.
ENGlobal (NASDAQ:ENG) reported its Q3 2024 financial results. Revenue decreased to $5.7 million from $9.5 million in Q3 2023. The company reduced its net loss to $0.5 million from $0.7 million year-over-year. Excluding non-recurring adjustments, gross profit percentage increased by 87% to 8.4%, and SG&A decreased by $0.7 million to $1.8 million. For the nine months ended September 28, 2024, revenues were $18.4 million compared to $32.4 million in 2023, while net loss improved by $8.3 million to $3.1 million.
ENGlobal (NASDAQ:ENG) reported its Q2 2024 financial results, showing progress in its business refocus strategy. The company's net loss decreased to $1.2 million for Q2 2024, compared to $1.4 million in Q1 2024 and $4.3 million in Q2 2023. Revenues for Q2 2024 were $6.1 million, down 37% year-over-year. Gross profit improved to $0.8 million, up from a $0.4 million loss in Q2 2023. SG&A expenses were reduced by 52% to $1.9 million. The company's backlog stood at $7.7 million as of June 29, 2024. ENGlobal is focusing on electric power infrastructure for data centers and new technologies, having signed a Master Services Agreement with a regional power infrastructure provider. The company aims to achieve run-rate profitability by year-end 2024.
ENGlobal announced its first quarter 2024 financial and operating results, showcasing a focus on repositioning its business towards providing engineering and automation services. Despite a net loss and decreased revenues compared to the previous year, the company saw improvements in gross profit, reduced expenses, and higher billable resource utilization. ENGlobal remains optimistic about future opportunities and potential partnerships to drive revenue growth. The company's total backlog was approximately $10.8 million as of March 30, 2024.
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