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About ENGlobal Corporation
ENGlobal Corporation (NASDAQ: ENG) is a specialized engineering services firm founded in 1985, with a core focus on delivering innovative automation solutions and select Engineering, Procurement, and Construction Management (EPCM) projects. Headquartered in Houston, Texas, ENGlobal operates globally, serving diverse markets including energy, government, pulp and paper, and alternative energy sectors. The company is recognized for its expertise in advanced automation, control systems, and professional engineering services, making it a key player in addressing the complex needs of industrial and public sector clients.
Core Business Segments
Automation Solutions
ENGlobal’s Automation Solutions segment specializes in the design, fabrication, and implementation of advanced automation, control, instrumentation, and process analytical systems. This segment integrates cutting-edge technologies to enhance operational efficiency, safety, and reliability for its clients. Key offerings include turnkey solutions for automated control systems, process monitoring, and instrumentation, tailored to the unique requirements of industries such as oil and gas, power generation, and manufacturing.
EPCM Services
The EPCM Services segment provides comprehensive consulting and project management support for engineering, procurement, and construction activities. ENGlobal excels in delivering end-to-end solutions for complex projects, ensuring seamless coordination and execution. Services include feasibility studies, detailed engineering design, construction management, and operational support. This segment caters to clients across upstream, midstream, and downstream energy operations, as well as government infrastructure projects.
Markets Served
- Energy Sector: ENGlobal addresses the entire energy value chain, including upstream exploration, midstream transportation, and downstream refining and distribution. The company also supports alternative energy initiatives, reflecting its adaptability to evolving industry trends.
- Government and Defense: Through its Government Services segment, ENGlobal provides engineering, design, and maintenance of automation and instrumentation systems for public sector and U.S. Defense clients. This includes turnkey solutions for mission-critical facilities.
- Industrial Applications: ENGlobal extends its expertise to industries such as pulp and paper, offering automation and process optimization solutions to enhance productivity and sustainability.
Competitive Position
Operating in a highly competitive market, ENGlobal differentiates itself through its specialized focus on automation and EPCM services, underpinned by decades of engineering expertise. The company’s ability to integrate advanced technologies into its solutions positions it as a trusted partner for clients seeking to modernize and optimize their operations. Additionally, its dual focus on commercial and government sectors provides a diversified revenue base and mitigates market volatility risks.
Challenges and Opportunities
ENGlobal faces challenges such as fluctuating demand in the energy sector, competitive pressures from larger engineering firms, and the need to continuously innovate its service offerings. However, the company’s strategic emphasis on automation and its growing presence in government projects present significant opportunities for long-term growth. By leveraging its core competencies and exploring emerging markets like alternative energy and data center infrastructure, ENGlobal is well-positioned to address evolving industry needs.
Core Values and Vision
ENGlobal operates with a commitment to health, safety, and environmental stewardship, emphasizing integrity, accountability, teamwork, and quality in all its endeavors. The company’s vision is to become the preferred provider of innovative automation integration services and select EPCM projects, delivering exceptional value to clients worldwide.
Conclusion
With its specialized expertise, diversified market presence, and commitment to innovation, ENGlobal Corporation plays a pivotal role in delivering engineering and automation solutions that drive efficiency and reliability across industries. By focusing on its core strengths and addressing market challenges, ENGlobal continues to serve as a trusted partner for energy, industrial, and government clients globally.
ENG (NASDAQ:ENG) held its 2022 annual stockholders' meeting in Houston, representing approximately 61% of its total common stock. An overwhelming majority of shareholders voted in favor of electing five directors for a one-year term. Specifically, 94% supported the election of William A. Coskey, P.E., Mark A. Hess, Lloyd G. Kirchner, Christopher D. Sorrells, and Kevin M. Palma. Additionally, 98% ratified the appointment of Moss Adams for the fiscal year 2022, while 99% approved a 'say-on-pay' advisory vote regarding executive compensation.
ENG (NASDAQ:ENG) has announced the acquisition of Calvert Group Belgium and its exclusive license for patented gas-to-liquid (GTL) technology, aimed at converting flare gas and stranded gas into synthetic liquids like crude oil and diesel. Recognized by the World Bank, this technology requires no pre-treatment, is low power consuming, and is designed for modular installation. ENG anticipates constructing over 50 GTL plants per year, enhancing environmental sustainability and providing cost-effective solutions for energy companies facing gas flaring issues.
HOUSTON, TX / ACCESSWIRE / May 4, 2022 / ENGlobal (NASDAQ:ENG) will host a conference call on May 5, 2022, at 9:00 am Eastern to discuss its Q1 2022 financial results, announced earlier that day at 8:00 am. CEO Mark Hess, CFO Darren Spriggs, and President Roger Westerlind will provide updates on potential contract awards and the growth outlook for the year. Interested participants can join the call via toll-free number or online at the provided link. Replay options will be available post-event. ENGlobal offers project solutions for both renewable and traditional energy sectors.
ENG (NASDAQ:ENG) has secured a contract exceeding $1 million from a midwestern public school district to implement a SCADA system. This system will enhance security by enabling centralized monitoring of alarm alerts across approximately 100 sites within the district. The project aims to upgrade existing security and fire systems, reflecting the company's commitment to safety. ENG views this as an opportunity to expand its SCADA model beyond its traditional hydrocarbon focus, potentially aiding various school districts nationwide.
ENG (NASDAQ:ENG), a provider of project delivery solutions for the energy sector, is set to announce its Q1 2022 financial results on May 5, 2022, at 8:00 am ET. A conference call will follow at 9:00 am ET, featuring CEO Mark Hess, CFO Darren Spriggs, and President Roger Westerlind discussing the results, potential contract awards, and growth outlook for the year. Interested parties can join via phone or online. A replay will be available post-event. For more information about the company's operations, visit www.englobal.com.
ENG (NASDAQ:ENG) announced updates on its renewable diesel and sustainable aviation fuel plant project, originally revealed on February 22. Utilizing a modular execution strategy, the plant aims to produce approximately 100 million gallons per year from renewable feedstocks, benefiting clients with reduced timelines and costs. Completion is expected within 24 months of final investment decision (FID). This project builds upon ENG's experience from a previous similar project and has an anticipated scope exceeding $100 million.
ENG (NASDAQ:ENG) has announced a new contract awarded to its subsidiary, ENGlobal Government Services, by the Defense Logistics Agency (DLA) to enhance Automated Fuel Handling Equipment at two major U.S. military bases. The contract, valued at over $2.5 million, will commence in May 2022 and last approximately 15 months. The upgrades include advanced control systems for real-time data acquisition and inventory management. EGS has served the U.S. military for 17 years, covering over 150 locations.
ENG (NASDAQ:ENG), a leader in project delivery for the energy sector, reported a net loss of $5.7 million for 2021, marking a significant decline from a $625,000 loss in 2020. Revenue dropped to $36.4 million from $64.4 million, largely due to COVID-19 impacts and the non-renewal of major projects. Despite the setbacks, ENG’s cash position improved to $19.2 million, up from $13.7 million in 2020. Management projects a potential turnaround in 2022, citing increased customer engagement and several new contracts, including a $4.4 million extension with the U.S. Defense Logistics Agency.
ENG (NASDAQ:ENG) will host a conference call on March 10, 2022, at 9:00 AM Eastern time to discuss its 2021 year-end financial results, which will be announced at 8:00 AM. CEO Mark Hess, CFO Darren Spriggs, and President Roger Westerlind will highlight the company's performance and future growth outlook for 2022. Interested parties can join by phone or via a live Internet broadcast. A replay will be available until March 17, 2022. ENG provides project solutions for renewable and traditional energy sectors, operating in both Commercial and Government Services segments.
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