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Aegion Corporation is a global leader in providing innovative technologies and expertise to maintain, rehabilitate, and strengthen infrastructure. Established in 1971, Aegion has been at the forefront of pioneering solutions for aging infrastructure, focusing predominantly on pipelines within the wastewater, water, energy, mining, and refining sectors.
The company leverages advanced technology-enabled water solutions to ensure the efficient operation of refineries and industrial facilities. Aegion is committed to its mission of 'Stronger. Safer. Infrastructure.®'
Over the years, Aegion has achieved significant milestones, including recent acquisitions to enhance its service offerings:
- March 2023: Acquired Proline Vactor Services, enhancing professional sewer and storm drain cleaning services in Florida.
- May 2023: Acquired Infraspec Services, a specialist in trenchless water rehabilitation services in Quebec, Canada.
- June 2023: Acquired Standard Pipe Services, expanding its trenchless repair services in the Delaware-Maryland-Pennsylvania tri-state area.
- July 2023: Acquired Portland Utilities Construction Company, reinforcing specialized services in Tennessee and surrounding states.
- September 2023: Acquired C&L Water Solutions, broadening its footprint in Colorado and the western U.S.
- October 2023: Acquired 11 Enviro Group and AP Civil Solutions, expanding its trenchless services and water maintenance operations in New York and Florida, respectively.
Aegion's portfolio companies, such as Insituform Technologies, EN-TECH Infrastructure, and others, play a critical role in its operations, ensuring the company can deliver comprehensive services covering consultation, design, installation, and maintenance. The company's diverse services include cured-in-place pipe (CIPP) rehabilitation, grouting, trenchless pipe replacement, and more.
Financially, Aegion has demonstrated robust growth through strategic acquisitions and organic expansion, enabling it to address the challenges of aging infrastructure effectively. The company continues to innovate and expand, ensuring sustainable and safe infrastructure solutions globally.
For more details, visit Aegion's official website.
Aegion Corporation (NASDAQ: AEGN) announced that its subsidiary, Insituform Technologies, has secured a wastewater rehabilitation contract worth over $4 million from Baltimore County, Maryland. The project involves rehabilitating 78,000 linear feet of sanitary sewer mains using trenchless technology, which minimizes disruptions and costs. Additionally, 25% of the work will support local, minority-owned businesses. This contract marks Insituform's third consecutive large-scale project in Baltimore County, with work expected to commence this fall and conclude by the end of 2021.
Aegion reported Q2 2020 earnings of $0.12 per diluted share, a recovery from a loss of $0.27 per share in Q2 2019. Revenues were $245 million, reflecting challenges due to COVID-19 but driven by growth in the Insituform North America segment. Contract backlog grew 4% year-over-year to $669 million, ensuring future cash flow stability. Operating cash flows surged to $60 million, allowing for substantial debt reduction. The company anticipates Q3 2020 adjusted EPS between $0.25 and $0.35.
Aegion Corporation (NASDAQ: AEGN) is scheduled to release its second quarter 2020 financial results after market close on July 29, 2020. Following this, CEO Charles R. Gordon will host a conference call on July 30, 2020, at 9:30 a.m. Eastern Time to discuss the company's performance and outlook, including a Q&A session. The call will be available via a webcast, and replay options will be provided on Aegion's website. Aegion focuses on innovative technologies for infrastructure maintenance and rehabilitation across various industries.
Aegion Corporation (NASDAQ: AEGN) announced a new wastewater rehabilitation contract valued at $11.9 million from the City of Springfield, Missouri. Insituform Technologies USA, a subsidiary of Aegion, will rehabilitate approximately 550,000 linear feet of sanitary sewer main using trenchless technology. This project aims to minimize costs and community disruptions. Since 2011, Insituform has secured over $30 million in contracts from Springfield. The project is expected to commence in early fall 2020 and conclude by late 2022.
Aegion Corporation (NASDAQ: AEGN) announced its subsidiary, Insituform Technologies, LLC, has secured a $6 million sewer rehabilitation contract in East Richland County, South Carolina. The project involves rehabilitating over 8,900 linear feet of sewer pipelines using advanced cured-in-place (CIPP) technology. Additional project tasks include manhole rehabilitation and erosion control. This contract is notable for its value, marking one of the highest bids for large-diameter pipeline rehabilitation in recent South Carolina history, and is set to commence this summer, completing by late 2020.
Aegion Corporation (NASDAQ: AEGN) announced a $6 million contract award to its subsidiary, Insituform Technologies, for wastewater system rehabilitation in Newton, Massachusetts. The project includes 70,000 linear feet of cured-in-place pipe (CIPP) lining and other trenchless services. Insituform has been contracted for similar work in Newton since 2007, totaling over $12 million since 2017. This project is expected to be completed by June 2021.
Aegion Corporation (NASDAQ: AEGN) announced that its President and CEO, Charles R. Gordon, will participate in a fireside chat at the Stifel 2020 Virtual Cross Sector Insight Conference on June 10, 2020, at 2:00 p.m. Eastern Time. The discussion will be available via a live webcast on Aegion's website. Additionally, Gordon and Executive Vice President and CFO, David F. Morris, will hold virtual meetings with institutional investors during the conference. Aegion specializes in innovative solutions for infrastructure rehabilitation across various industries.
Aegion Corporation (NASDAQ: AEGN) announced that its subsidiary, Brinderson L.P., has been awarded a contract for onsite mechanical and electrical services at ExxonMobil's Billings, Montana refinery. This contract includes daily maintenance and small capital projects, expected to transition in the first half of 2020. Brinderson will utilize proprietary performance tools to enhance efficiency and deliver customer savings. CEO Charles R. Gordon highlighted this as a crucial step in the company's geographic expansion strategy in the Rocky Mountain region, following a similar recent contract in Salt Lake City.
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