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Perma-Fix Environmental Services, Inc. - PESI STOCK NEWS

Welcome to our dedicated page for Perma-Fix Environmental Services news (Ticker: PESI), a resource for investors and traders seeking the latest updates and insights on Perma-Fix Environmental Services stock.

Perma-Fix Environmental Services, Inc. (PESI) is a prominent provider of nuclear services and waste management solutions, catering to both commercial and government sectors. The company operates through two core segments: the Treatment segment and the Services segment.

The Treatment segment specializes in the management and disposal of various waste types, including nuclear, low-level radioactive, mixed, hazardous, and non-hazardous waste. This segment ensures that waste is processed and treated in a manner that adheres to stringent environmental standards, reducing potential risks and enhancing safety.

The Services segment, which generates the majority of Perma-Fix’s revenue, offers a comprehensive suite of on-site waste management services. These services include technology-based solutions, construction, logistics, and transportation services. The segment serves a diverse client base, including commercial enterprises and government institutions, providing tailored services to meet specific needs.

Perma-Fix’s integrated nationwide network of treatment, storage, and disposal facilities, along with its transportation services, engineering consultants, site remediation teams, and government service centers, positions the company as a leader in the waste management industry. Recent achievements include a significant 113% increase in gross profit over the same period last year and the introduction of a new PFAS destruction technology, offering a sustainable alternative to traditional waste disposal methods.

The company’s leadership team, comprising Mark J. Duff (CEO), Dr. Louis F. Centofanti (Executive Vice President of Strategic Initiatives), and Ben Naccarato (Executive Vice President and CFO), is committed to driving growth and innovation. Their strategic initiatives and effective management have contributed to enhancing the company’s market position and financial stability.

Perma-Fix operates four nuclear waste treatment facilities and provides nuclear services at various Department of Energy (DOE), Department of Defense (DOD), and commercial sites nationwide. The company's nuclear services group is involved in project management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, ensuring comprehensive and safe handling of nuclear materials.

For the latest updates and detailed information on Perma-Fix Environmental Services, including upcoming events and developments, visit the investor section of their website or access the webcast of their conference calls through this link.

Rhea-AI Summary

Perma-Fix Environmental Services reported Q3 2024 financial results with revenue of $16.8 million, down from $21.9 million in Q3 2023. The company experienced a net loss of $9.0 million, including a $6.4 million non-cash tax expense. Treatment Segment revenue decreased to $9.1 million from $10.8 million, while Services Segment revenue fell to $7.7 million from $11.1 million. The decline was attributed to Hurricane Helene impacts, waste shipment delays, and equipment issues. The company announced successful startup of its first commercial Perma-FAS system for PFAS destruction and secured approximately 6,000 gallons of AFFF liquids.

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Perma-Fix Environmental Services (NASDAQ: PESI) has announced a conference call scheduled for Wednesday, November 13, 2024, at 11:00 AM Eastern Time to discuss their third quarter 2024 business update. The call will be led by CEO Mark J. Duff, EVP of Strategic Initiatives Dr. Louis F. Centofanti, and EVP/CFO Ben Naccarato. Participants can join via webcast or telephone, with U.S. callers dialing 888-506-0062 and international callers dialing +1 973-528-0011 (access code: 271776). A replay will be available until November 20, 2024.

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Perma-Fix Environmental Services (NASDAQ: PESI) has successfully launched its first commercial Perma-FAS system for PFAS destruction at its Florida facility. The system demonstrated over 99.99% effectiveness in breaking down PFAS 'forever chemicals' after 6 hours of treatment. Operating at 150°C and under 100 PSI, the system can process approximately 650 gallons of AFFF per cycle with zero air emissions. The company has secured 6,000 gallons of AFFF liquids and expects an additional 20,000 gallons in coming months. Perma-Fix plans to expand into soil, biosolids, and filter media applications by mid-2025.

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Perma-Fix Environmental Services (NASDAQ: PESI) announced that Dr. Louis Centofanti, Executive VP of Strategic Initiatives, will present at the Gabelli Funds' 2nd Annual PFAS Symposium on September 26th at the Harvard Club in New York City. The presentation is scheduled for 1:30 PM ET.

The symposium focuses on PFAS uses, replacements, and remediation. It will feature presentations from leading companies in waste and disposal services, water utilities, testing, and remediation. Attendees will include industry experts, companies in the PFAS space, private wealth clients, RIAs, and institutional investors.

PFAS (Per/Polyfluoroalkyl substances) are compounds widely used in industrial and commercial applications but have become an environmental and public health concern due to their toxicity and inability to naturally degrade.

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Perma-Fix Environmental Services (NASDAQ: PESI) reported weak Q2 2024 financial results due to government delays and equipment failure. Revenue decreased to $14.0 million from $25.0 million in Q2 2023. The company experienced a gross loss of $1.3 million and an operating loss of $5.0 million. Net loss was $4.0 million or ($0.27) per basic share.

Despite challenges, Perma-Fix is optimistic about future prospects, citing increasing backlog, bidding activities, and progress on long-term initiatives. The company completed critical DOE audits, secured new contracts in Canada and Mexico, and is advancing PFAS treatment technology. Management anticipates potential transformative opportunities beginning in 2025, including DOE projects at Hanford and Oak Ridge Reservation.

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Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) has announced a conference call scheduled for Thursday, August 8, 2024, at 11:00 AM Eastern Time. The call will provide a business update for the second quarter of 2024. Investors can access the webcast through the company's website or via a direct link. For those preferring telephone access, toll-free numbers are provided for both U.S. and international callers.

The call will be led by key executives including Mark J. Duff (CEO), Dr. Louis F. Centofanti (EVP of Strategic Initiatives), and Ben Naccarato (EVP and CFO). A replay of the webcast will be archived on Perma-Fix's website, and a telephone replay will be available until August 15, 2024.

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Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) has acquired the Environmental Waste Operations Center (EWOC) near Oak Ridge, Tennessee. The facility, previously leased by Perma-Fix, spans over 29,000 square feet of licensed storage and processing area for radioactive materials on an 8-acre site. Key features include:

- Strategic location near the DOE's Oak Ridge Reservation
- Rail spur for cost-effective transportation
- Plans for facility upgrades to capitalize on regional opportunities
- Potential for PFAS waste processing capabilities

CEO Mark Duff stated that this acquisition is a strategic milestone in Perma-Fix's growth strategy, allowing the company to offer enhanced value and a wider array of complex waste management solutions to clients.

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Perma-Fix Environmental Services (NASDAQ: PESI) has been added to the Russell 3000 Index, effective July 1, 2024, as part of the annual Russell indexes reconstitution. This inclusion automatically integrates Perma-Fix into the Russell 2000 Index and relevant growth and value style indexes. FTSE Russell, a leading global index provider, determines membership based on market capitalization and style attributes, capturing the 4,000 largest US stocks as of April 30 each year. This milestone reflects Perma-Fix's strategic progress and its commitment to addressing significant environmental challenges. Approximately $10.5 trillion in assets are benchmarked against the Russell US indexes, emphasizing their importance for investment managers and institutional investors.

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Perma-Fix Environmental Services (NASDAQ: PESI) provided an update on its patent-pending Perma-FAS® process for destroying PFAS compounds. They've chosen ProcessBarron for the fabrication and assembly of a 1,000-gallon commercial unit, expected to begin accepting waste by Q4 2024. The system utilizes a proprietary hydrolytic destruction process operating between 100-150°C, achieving a 99.9999% destruction level. This unique system supports the EPA's new regulatory measures and addresses environmental risks associated with traditional disposal methods like deep well injection and landfilling. The partnership with ProcessBarron aims to expedite the deployment of additional units nationwide, enhancing efficiency and safety standards.

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Perma-Fix Environmental Services (Nasdaq: PESI) announced a definitive agreement for a $20 million registered direct offering. The company will issue 2,051,282 shares at $9.75 each. The funds will support R&D and business development for PFAS destruction technology, cover capex and maintenance costs, and serve general corporate purposes. The offering, managed by Craig-Hallum Capital Group and Wellington Shields & Co., is set to close around May 24, 2024, pending customary conditions. The offering is pursuant to a registration statement declared effective by the SEC on June 1, 2023.

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FAQ

What is the current stock price of Perma-Fix Environmental Services (PESI)?

The current stock price of Perma-Fix Environmental Services (PESI) is $15.045 as of November 8, 2024.

What is the market cap of Perma-Fix Environmental Services (PESI)?

The market cap of Perma-Fix Environmental Services (PESI) is approximately 241.9M.

What does Perma-Fix Environmental Services, Inc. do?

Perma-Fix Environmental Services specializes in nuclear services and waste management, offering treatment, processing, and disposal of various waste types.

What are the main segments of Perma-Fix’s operations?

The company operates through two segments: Treatment (handling various waste types) and Services (offering on-site waste management, construction, and logistics).

Who are the key leaders of Perma-Fix Environmental Services?

Key leaders include Mark J. Duff (CEO), Dr. Louis F. Centofanti (Executive VP of Strategic Initiatives), and Ben Naccarato (Executive VP and CFO).

What recent achievements has Perma-Fix reported?

The company reported a 113% increase in gross profit over the same period last year and introduced a new PFAS destruction technology.

Where can I find more information about Perma-Fix’s financial performance?

More detailed information can be found in the investor section of Perma-Fix’s website or by accessing their webcast conference calls.

What types of waste does the Treatment segment handle?

The Treatment segment handles nuclear, low-level radioactive, mixed, hazardous, and non-hazardous waste.

How does the Services segment generate revenue?

The Services segment generates revenue by providing on-site waste management services, construction, logistics, and technology-based solutions to commercial and government clients.

What facilities does Perma-Fix operate?

Perma-Fix operates four nuclear waste treatment facilities across the United States.

What industries does Perma-Fix serve?

Perma-Fix serves hospitals, research labs, federal agencies like the DOE and DOD, and the commercial nuclear industry.

How can I contact Perma-Fix’s investor relations?

For investor relations, contact Herbert Strauss at herbert@eu-ir.com or David K. Waldman at Crescendo Communications.

Perma-Fix Environmental Services, Inc.

Nasdaq:PESI

PESI Rankings

PESI Stock Data

241.91M
15.80M
8.02%
47.57%
7.56%
Waste Management
Hazardous Waste Management
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United States of America
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