Perma-Fix Environmental Svcs Stock Price, News & Analysis

Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) reported a 56.8% increase in Treatment Segment revenue for Q4 2021, reaching $8.9 million, though overall revenue dropped to $17.1 million from $28.3 million year-over-year. The Services Segment backlog rose to $66 million, indicating growth potential. However, the company faced a net loss of $2.4 million for the quarter and $6.8 million for the year, compared to profits last year. The company remains hopeful for 2022, citing new federal budgets and significant project opportunities.

Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) will conduct a conference call on March 31, 2022, at 11:00 AM ET, led by CEO Mark J. Duff and other executives. The call will focus on the company’s developments, including its nuclear waste management services and initiatives, which serve federal agencies and commercial sectors. Investors can access the call via telephone or webcast. A replay will be available until April 7, 2022. Perma-Fix provides critical nuclear waste management solutions and operates four treatment facilities across the U.S.

Westinghouse Electric Company and Perma-Fix Environmental Services (NASDAQ: PESI) have signed a term sheet to develop an advanced materials treatment facility in the UK. Scheduled for establishment at Westinghouse’s Springfields site, this facility aims to enhance waste treatment capacities for the European nuclear market. Westinghouse will hold 55% ownership, while Perma-Fix will manage the remaining share. The facility will utilize the Perma-Fix Bulk Processing Unit (BPU), designed to treat various radioactive materials, significantly reducing waste volume and minimizing cross-contamination risks.

Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) reported Q3 2021 revenue of $15.8 million, down from $30.2 million YoY, primarily due to COVID-19 impacts. The Treatment Segment's revenue rose to $8.9 million, while the Services Segment declined to $6.9 million. New project backlog increased by $50 million since Q3, signaling recovery. Despite a gross profit decrease to $2.2 million, net income was stable at $1.4 million ($0.11/share). The company maintains a healthy balance sheet with over $7.2 million cash on hand and aims for growth supported by recent contract wins.

Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) announced a conference call scheduled for 2:00 PM ET on November 11, 2021. The call will feature CEO Mark J. Duff and other executives discussing the company's services in nuclear waste management. Interested parties can access the call via webcast or telephone. An archive will be available on the company's website, and a replay can be accessed until November 18, 2021. Perma-Fix specializes in radioactive waste management for government agencies and the commercial sector, operating four treatment facilities nationwide.

Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) announced the successful closing of an underwritten public offering of 1,000,000 shares at $6.20 per share, generating approximately $6.2 million in gross proceeds. The net proceeds of about $5.8 million are earmarked for general growth capital and corporate purposes, including expansions at treatment facilities. This offering was conducted under a shelf registration statement effective since May 22, 2019. Wellington Shields & Co. LLC acted as the exclusive placement agent.

Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) announced approximately $50 million in contract awards during Q3 2021, with a significant project valued at nearly $40 million. The new contracts, primarily with the U.S. government, enhance the company's project backlog to around $74 million. CEO Mark Duff expressed optimism about the growing sales pipeline in nuclear services and waste treatment, positioning Perma-Fix for potential growth in 2022.

Perma-Fix Environmental Services (NASDAQ: PESI) has secured a $6.5 million service contract with the Lawrence Berkeley National Laboratory, effective over the next nine months. CEO Mark Duff expressed optimism about expanding their bidding pipeline and the potential for additional Department of Energy (DOE) projects following their successful history of remediation and waste management services at LBNL. The company continues to provide critical nuclear waste management solutions across various federal and commercial sectors.