Welcome to our dedicated page for Perma-Fix Environmental Svcs news (Ticker: PESI), a resource for investors and traders seeking the latest updates and insights on Perma-Fix Environmental Svcs stock.
Perma-Fix Environmental Services, Inc. reports developments in nuclear services, mixed waste treatment and environmental remediation. The company manages and treats radioactive and mixed waste for hospitals, research institutions, federal agencies and the commercial nuclear industry, and operates four nuclear waste treatment facilities. Its updates often address the Treatment Segment, the Services Segment, Perma-Fix Northwest, Hanford-related waste streams, facility permitting and waste processing capacity.
Recurring company news also covers project awards for demolition, decontamination, disposal and on-site waste management, including work at government and national laboratory sites. Perma-Fix updates its proprietary Perma-FAS PFAS destruction technology, business results, backlog, international project activity and investor presentations as part of its broader nuclear and environmental services platform.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Perma-Fix Environmental Services (PESI) announced the award of eight new contracts, enhancing its backlog in the Services and Treatment Segments. These contracts, primarily focused on reactor decommissioning and waste processing for the Department of Energy (DOE) and the Department of Defense (DOD), are projected to generate approximately $15 million in revenue in 2023, with potential additional phases valued over $14 million extending into 2024.
Despite this growth, the Company reported it was not awarded the Integrated Tank Disposition Contract (ITDC), although it will continue its role in the Hanford closure mission. CEO Mark Duff emphasized the importance of diversification efforts post-COVID-19 and remains optimistic about the Company's outlook.
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.