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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), a leader in project solutions for energy sectors, will announce its Q1 2021 financial results on May 6, 2021, at 8:00 AM ET, followed by a conference call at 9:00 AM ET. Key executives, including CEO Mark Hess and CFO Darren Spriggs, will discuss financial highlights and prospects for contract awards. Participants can join via phone or listen online. A replay will be available after the call until May 13, 2021. The company operates through two segments: U.S. and Government Services, focusing on engineering and automated control systems.
ENGlobal Corporation (NASDAQ:ENG) reported a net loss of $625,000, or $(0.02) per share, for the year ended December 26, 2020, improving from a net loss of $(1.466 million in 2019. Revenue increased by $8 million (14.2%) to $64.4 million, driven by a 33.5% rise in its EPCM segment. Cash on hand rose to $13.7 million, including a PPP loan of $4.9 million. Despite challenges from COVID-19, ENGlobal is positioned for growth with significant proposal activity valued at $278 million in early 2021, aiming to rebuild its backlog, which ended 2020 at $24 million.
ENGlobal (NASDAQ:ENG), a leading engineering and automation services provider for the energy sector, will host a conference call on March 11, 2021, at 9:00 am EST to discuss its year-end 2020 financial results, which will be released at 8:00 am. Newly appointed CEO Mark Hess, CFO Darren Spriggs, and President Roger Westerlind will highlight 2020 achievements and offer insights into potential contract awards and growth outlook for 2021. Interested parties can join via a toll-free number or through a live broadcast on the Internet.
ENGlobal (NASDAQ:ENG) has scheduled a conference call on March 11, 2021, at 9:00 AM EST to discuss its year-end 2020 financial results. The results will be released at 8:00 AM on the same day. Key executives, including CEO Mark Hess and CFO Darren Spriggs, will highlight the company's performance, potential contract awards, and growth outlook for 2021. The call can be accessed both via phone and online, with a replay available until March 18.
HOUSTON, TX / ACCESSWIRE / March 1, 2021 / ENGlobal Corporation (NASDAQ:ENG) announced the retirement of CEO William A. Coskey, effective March 12, 2021, with CFO Mark A. Hess succeeding him. Coskey will remain as chairman. Roger Westerlind will become President, and Darren Spriggs will take over as CFO. The leadership transition aims to leverage opportunities in the green energy sector. ENGlobal continues to strengthen its integrated project solutions capabilities in automation and engineering services.
ENGlobal Corporation (NASDAQ:ENG) has provided a progress report on its contract to engineer and fabricate the first modular hydrogen production facility in the U.S., valued at approximately $25 million. The project is on schedule and within budget, with engineering completed and fabrication underway. Utilizing a hydrogen reforming technology that consumes 20% less feed gas, the facility promises reduced operating costs and a lower carbon footprint. ENGlobal is also pursuing various projects valued between $20 million and $120 million, expanding its role in green energy technologies.
ENGlobal (NASDAQ: ENG) has announced that it has regained compliance with the NASDAQ minimum bid price requirement. The official notification, dated December 4, 2020, confirmed that for 10 consecutive business days, from November 19 to December 3, the company's stock price was at $1.00 or above. This compliance with NASDAQ Listing Rule 5550(a)(2) allows ENGlobal to maintain its listing. The company offers engineering and automation services mainly to the energy sector.
ENGlobal Corporation (NASDAQ:ENG) reported a 13% increase in Q3 2020 revenue, reaching $15.7 million, compared to $14.0 million in Q3 2019. The growth was driven by an 88% revenue increase in the Engineering, Procurement and Construction Management (EPCM) segment, although offset by a 21% decrease in the Automation segment due to COVID-19. ENGlobal's net loss widened to $(1.1 million), or $(0.04) per share. Year-to-date, revenue grew by 33% to $52.9 million, leading to a net income of $59,000 for the first nine months.
ENGlobal (NASDAQ:ENG) will announce its third quarter 2020 financial results on November 5, 2020, at 8:00 am EST. Following this, a conference call hosted by CEO William Coskey and CFO Mark Hess will take place at 9:00 am EST to discuss the highlights, updates on potential contract awards, and the company's growth outlook. Participants can join via telephone or listen online. Key risks affecting the company's business include the impact of COVID-19, economic downturns, and dependence on key clients.
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