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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.
ENGlobal (NASDAQ:ENG) will announce its Q3 2021 financial results on November 4, 2021, at 8:00 am ET. Following the announcement, a conference call will be held at 9:00 am ET, featuring CEO Mark Hess, CFO Darren Spriggs, and President Roger Westerlind. They will discuss company highlights, updates on potential contract awards, and the growth outlook for the remainder of the year. Interested participants can join via telephone or online. For more information about the company, visit www.ENGlobal.com.
HOUSTON, TX / ACCESSWIRE / August 27, 2021 / ENGlobal's (NASDAQ:ENG) annual stockholders' meeting took place recently, with about 58% of its total common stock represented. Approximately 99% of the votes supported the election of Board members: William A. Coskey, Mark A. Hess, Lloyd G. Kirchner, Christopher D. Sorrells, and Kevin M. Palma, along with the approval of the 2021 Long Term Incentive Plan and the appointment of Moss Adams for fiscal year 2021.
ENGlobal Corporation (NASDAQ:ENG) reported a major strategic transformation but faced significant challenges in Q2 2021. The company posted a net loss of $4.26 million, or $(0.14) per share, on revenues of $11.08 million, down from $17.88 million in the same period last year. Key moves included six new hires, a rebranding effort, and raising $19 million through a direct offering, leading to $29 million cash on hand. However, revenue decline was attributed to COVID-19 delays, resulting in a reduced gross margin of 0.7%. CEO Mark A. Hess anticipates improved results as the energy sector recovers.
ENGlobal (NASDAQ:ENG) announced a rebranding with a new logo and website to reflect its strategic shift towards providing vertically integrated project solutions for both traditional energy and renewables. The updated website, www.ENGlobal.com, details the company's comprehensive services including Project Management, Engineering, and more. CEO Mark Hess stated the changes will serve as an effective marketing tool, enhancing customer service across industries such as Automation, Oil, Gas, and Renewables.
ENGlobal (NASDAQ:ENG) will host a conference call on August 5, 2021, at 9:00 am ET to discuss its Q2 2021 financial results, which will be announced at 8:00 am ET. The call will feature CEO Mark Hess, CFO Darren Spriggs, and President Roger Westerlind, covering key highlights, updates on potential contract awards, and the company’s growth outlook. Interested participants can join via toll-free numbers or stream it online. The replay will be available post-call until August 12, 2021.
ENGlobal Corporation (NASDAQ:ENG) has announced its selection for inclusion in the Russell Microcap® Index, effective June 25, 2021, following the annual reconstitution of Russell indexes. This inclusion is anticipated to enhance investor awareness and support the company's growth prospects. The Russell Microcap® Index serves as a benchmark for approximately $10.6 trillion in assets. ENGlobal operates in the renewable and traditional energy sectors, providing comprehensive project solutions.
ENGlobal Corporation (NASDAQ:ENG) has successfully delivered the final process module for a hydrogen production unit in Hugoton, Kansas, intended for a renewable diesel facility with a capacity of 6,500 barrels per day. This project features innovative HTCRTM technology, enhancing efficiency and reducing carbon intensity.
ENGlobal's services included engineering and automation over an 18-month period. The company is now pursuing new green energy projects, with potential revenues ranging from $20 million to $120 million, while anticipating a resurgence in its traditional oil and gas segment.
ENGlobal Corporation (NASDAQ:ENG) has entered into a securities purchase agreement for the sale of 7,142,859 shares of common stock at $2.80 per share, raising approximately $20 million. This registered direct offering complies with Nasdaq rules and is expected to close by June 4, 2021, pending customary conditions. The offering is made under an effective shelf registration statement with the SEC. A.G.P./Alliance Global Partners acts as the sole placement agent for this transaction.
ENGlobal Corporation (NASDAQ: ENG) reported a net income of $46,000, or $0.00 per share, for Q1 2021, down from $1,101,000, or $0.04 per share, in Q1 2020. Revenue fell to $12.45 million from $19.26 million due to reduced capital spending by clients amid COVID-19 impacts. Despite these challenges, CEO Mark A. Hess expressed optimism for improved performance as pandemic conditions ease and renewed business development efforts take hold. Gross profit decreased significantly, indicating ongoing economic strain.
ENGlobal (NASDAQ:ENG) will host a conference call on May 6, 2021, at 9:00 AM ET to discuss its Q1 2021 financial results, announced earlier that day at 8:00 AM ET. Key executives, including CEO Mark Hess and CFO Darren Spriggs, will review the company’s performance and provide updates on potential contracts and growth forecasts. The call can be accessed via phone or through a live Internet broadcast. Additionally, a recording will be available after the call until May 13, 2021. More details are available on ENGlobal's investor website.
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