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.
ENG (NASDAQ:ENG) reported third quarter 2022 revenues of $13.1 million, marking a 121% increase from $5.9 million in Q3 2021, attributed to growth in the Government Services and Commercial segments. However, the company faced a net loss of $2.3 million or $(0.07) per share, reversing from a net income of $2.4 million in the same period last year. Despite challenges, ENG improved its gross profit margin by 19 percentage points and saw increased backlog of $15.7 million.
With cash reserves at $9.7 million, management expresses confidence in future growth initiatives.
ENG (NASDAQ:ENG) will host a conference call on November 8, 2022, at 9:00 AM ET to discuss its Q3 2022 financial results, which will be announced at 8:00 AM the same day. CEO Mark Hess, CFO Darren Spriggs, and President Roger Westerlind will present key highlights, updates on potential contract awards, and the company's growth outlook for the remainder of the year. The call can be accessed via phone or through a live internet broadcast. A replay will be available after the event until November 15, 2022.
ENG (NASDAQ:ENG) will announce its Q3 2022 financial results on November 8, 2022, at 8:00 am Eastern time, followed by a conference call at 9:00 am. Key executives, including CEO Mark Hess, will discuss financial highlights, potential contract awards, and growth outlook. Stakeholders can join the call by dialing 877-545-0523 domestically or 973-528-0016 internationally. The call will also be streamed live online, with a replay available until November 15, 2022. ENG operates in both Commercial and Government Services sectors for energy solutions.
ENG (NASDAQ:ENG) has opened a new state-of-the-art fabrication facility certified by the American Society of Mechanical Engineers (ASME) in Brookshire, Texas. This 45,000 square foot facility complements ENG's existing operations in Henderson, Texas, providing increased capacity to meet client demand for engineering, procurement, fabrication, and construction services. Equipped with advanced cranes, the facility will leverage local businesses and support from ENG's Houston and Tulsa offices. This expansion follows ENG's recent geographic growth into the Permian Basin.
ENG (NASDAQ:ENG) announced its wholly owned subsidiary, ENGlobal Government Services, Inc. (EGS), has secured a $2.6 million task order under a $20 million IDIQ contract with the US Army Corps of Engineers (USACE). This task order involves providing engineering and technology services aimed at upgrading control systems at hydroelectric facilities in the South Atlantic region. Work begins immediately and will contribute to EGS's backlog. The award reflects USACE's confidence in EGS's innovative capabilities developed through prior military collaborations.
ENG (NASDAQ:ENG) has been awarded a prime contractor position by the US Army Corps of Engineers (USACE) for a five-year, $20 million contract aimed at upgrading control systems at hydroelectric facilities in the South Atlantic region. Under this Indefinite Delivery Indefinite Quantity (IDIQ) contract, ENG's wholly owned subsidiary, ENGlobal Government Services (EGS), will compete for task orders related to technology upgrades, new system designs, and maintenance services. This contract highlights ENG's commitment to providing innovative solutions to government projects.
ENG (NASDAQ:ENG) reported a net loss of $1.5 million, or $(0.04) per share, for Q2 2022, improving from a net loss of $4.3 million, or $(0.14) per share, in Q2 2021. Revenue increased to $11.4 million from $11.1 million year-over-year. The company noted a significant growth in bookings, revenue, and backlog, which has more than doubled to over $19 million. ENG anticipates revenue growth from its recently established field service operations in the Permian Basin and a licensing agreement for its GTL technology in the Middle East.
ENG (NASDAQ:ENG) will host a conference call on August 4, 2022, at 9:00 AM Eastern to discuss its Q2 2022 financial results, set to be announced at 8:00 AM. CEO Mark Hess, CFO Darren Spriggs, and President Roger Westerlind will highlight the quarter's achievements, potential contract awards, and the company's growth outlook for the remainder of the year. Investors can join the call via phone or through a live webcast. Details for participation and replay options are provided.
ENG specializes in innovative project solutions in the energy sector, operating through two segments: Commercial and Government Services.
ENG (NASDAQ:ENG) announced a significant marketing and technology agreement with OiLSERV FZCO, granting exclusive rights to market ENG's small-scale gas to liquids (GTL) technology for ten years in Iraq, Libya, Algeria, and the UAE. OiLSERV, an established service provider in the region, will leverage this technology to address gas flaring issues, with over 143 billion cubic meters flared globally each year. ENG anticipates delivering its first GTL plant in six to eight months, with a production rate of approximately one plant per week.
ENG (NASDAQ:ENG) will host a conference call on August 4, 2022, at 9:00 am ET to discuss its Q2 2022 financial results, released earlier that day at 8:00 am ET. CEO Mark Hess, CFO Darren Spriggs, and President Roger Westerlind will present key highlights and potential contract updates, along with the company's growth outlook for the remainder of 2022. Participants can join by phone or via a live online broadcast. A replay will be available for a week post-event.
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