Perma-Fix Environmental Svcs Stock Price, News & Analysis

Perma-Fix Environmental Services reported its Q4 2022 and full-year financial results on March 23, 2023, revealing a revenue decrease to $16.8 million in Q4 from $17.1 million year-over-year and a net loss of $1.7 million. The Treatment Segment saw revenues drop to $8.6 million, impacted by lower averaged prices, inclement weather, and skilled labor shortages. Despite these challenges, the company noted an increase in backlog to $9.2 million and anticipated growth from new government contracts beginning in Q2 2023. Overall, 2022 revenue totaled $70.6 million, down from $72.2 million in 2021, primarily due to delays related to COVID-19.

Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) will hold a conference call on March 23, 2023, at 11:00 AM ET. The call will feature Mark J. Duff, CEO, along with executives Dr. Louis F. Centofanti and Ben Naccarato. Investors can access the call via telephone at 888-506-0062 for U.S. callers or +1 973-528-0011 internationally, using access code: 692717. The event will also be streamed online and archived on the company's website. Perma-Fix specializes in nuclear waste management and operates four treatment facilities, serving federal and commercial sectors nationwide.

Perma-Fix Environmental Services (NASDAQ: PESI) announced the U.S. Department of Energy's (DOE) amendment to the Record of Decision (ROD) for the Hanford Site's waste management. The amendment allows for interim transportation and treatment of secondary wastes at commercial facilities until onsite treatment capabilities are available, expected in about 10 years. This presents a significant growth opportunity for Perma-Fix in managing the complex waste streams at Hanford. The company aims to leverage its facilities in Richland, WA, and Kingston, TN, to support this initiative.

Perma-Fix Environmental Services (NASDAQ: PESI) reported a 17% revenue increase to $18.5 million in Q3 2022, alongside a robust 38% rise in gross profit to $3.1 million compared to Q3 2021. The Treatment Segment saw a 46% rise in waste receipts, totaling $9.1 million. Despite operational challenges due to Hurricane Ian, the company is optimistic about increased federal procurements and new contracts in the pipeline. However, net income fell to approximately $664,000, down from $1.4 million in Q3 2021, influenced by reductions in tax benefits under the ERC program.

Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) will host a conference call on November 3, 2022, at 11:00 AM Eastern Time. The call will be led by CEO Mark J. Duff and other executives. Participants can join via telephone or access a live webcast on the company's website. A replay will be available after the call through November 10, 2022. Perma-Fix is a leading provider of nuclear waste management services, catering to hospitals, federal agencies, and the commercial nuclear sector, operating four treatment facilities nationwide.

Perma-Fix Environmental Services reported a 20.5% revenue increase to $19.5 million and a 198.6% rise in gross profit for Q2 2022, compared to Q2 2021. This growth stemmed from resumed operations after COVID-19 delays and a 54% increase in waste receipts in the Treatment Segment. The Services Segment also saw revenue growth due to project resumption. However, the company faced a net loss of $1.4 million or ($0.11) per share, compared to net income of $3.0 million in the previous year. Adjusted EBITDA was ($403,000), an improvement from last year's ($1.7 million).

Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) announced a conference call scheduled for August 5, 2022, at 11:00 AM ET. The call will feature Mark J. Duff, the CEO, along with other executives. Investors can join via a toll-free number or through a webcast. An archived version will be available after the call and can be accessed until August 12, 2022. Perma-Fix specializes in nuclear waste management services, providing solutions for various sectors including federal agencies and commercial industries.

Perma-Fix Environmental Services was awarded a Framework Contract by Nuclear Waste Services in the UK, enabling them to compete for task orders worth up to £41 million over four years for radioactive waste treatment. The contract encompasses various services across the waste lifecycle, enhancing Perma-Fix's market presence in Europe. CEO Mark Duff highlighted the significance of this award and its reflection on the company's capabilities, built on over 30 years of experience in the US nuclear waste management sector.

On May 5, 2022, Perma-Fix Environmental Services (NASDAQ: PESI) reported a first-quarter revenue of $15.9 million, down from $23.1 million year-over-year. The decline was chiefly due to a $7.2 million drop in the Services Segment. Gross profit fell to $1.6 million versus $2.4 million in Q1 2021, leading to an operating loss of $1.9 million. Despite challenges from the pandemic impacting project timelines, the company anticipates recovery and increased demand in the second quarter of 2022. Management remains optimistic about growth opportunities in the Treatment Segment and upcoming federal task orders.