Welcome to our dedicated page for Perma-Fix Environmental Services news (Ticker: PESI), a resource for investors and traders seeking the latest updates and insights on Perma-Fix Environmental Services stock.
Perma-Fix Environmental Services, Inc. (PESI) is a prominent provider of nuclear services and waste management solutions, catering to both commercial and government sectors. The company operates through two core segments: the Treatment segment and the Services segment.
The Treatment segment specializes in the management and disposal of various waste types, including nuclear, low-level radioactive, mixed, hazardous, and non-hazardous waste. This segment ensures that waste is processed and treated in a manner that adheres to stringent environmental standards, reducing potential risks and enhancing safety.
The Services segment, which generates the majority of Perma-Fix’s revenue, offers a comprehensive suite of on-site waste management services. These services include technology-based solutions, construction, logistics, and transportation services. The segment serves a diverse client base, including commercial enterprises and government institutions, providing tailored services to meet specific needs.
Perma-Fix’s integrated nationwide network of treatment, storage, and disposal facilities, along with its transportation services, engineering consultants, site remediation teams, and government service centers, positions the company as a leader in the waste management industry. Recent achievements include a significant 113% increase in gross profit over the same period last year and the introduction of a new PFAS destruction technology, offering a sustainable alternative to traditional waste disposal methods.
The company’s leadership team, comprising Mark J. Duff (CEO), Dr. Louis F. Centofanti (Executive Vice President of Strategic Initiatives), and Ben Naccarato (Executive Vice President and CFO), is committed to driving growth and innovation. Their strategic initiatives and effective management have contributed to enhancing the company’s market position and financial stability.
Perma-Fix operates four nuclear waste treatment facilities and provides nuclear services at various Department of Energy (DOE), Department of Defense (DOD), and commercial sites nationwide. The company's nuclear services group is involved in project management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, ensuring comprehensive and safe handling of nuclear materials.
For the latest updates and detailed information on Perma-Fix Environmental Services, including upcoming events and developments, visit the investor section of their website or access the webcast of their conference calls through this link.
Perma-Fix Environmental Services (NASDAQ: PESI) provided an update on its patent-pending Perma-FAS® process for destroying PFAS compounds. They've chosen ProcessBarron for the fabrication and assembly of a 1,000-gallon commercial unit, expected to begin accepting waste by Q4 2024. The system utilizes a proprietary hydrolytic destruction process operating between 100-150°C, achieving a 99.9999% destruction level. This unique system supports the EPA's new regulatory measures and addresses environmental risks associated with traditional disposal methods like deep well injection and landfilling. The partnership with ProcessBarron aims to expedite the deployment of additional units nationwide, enhancing efficiency and safety standards.
Perma-Fix Environmental Services (Nasdaq: PESI) announced a definitive agreement for a $20 million registered direct offering. The company will issue 2,051,282 shares at $9.75 each. The funds will support R&D and business development for PFAS destruction technology, cover capex and maintenance costs, and serve general corporate purposes. The offering, managed by Craig-Hallum Capital Group and Wellington Shields & Co., is set to close around May 24, 2024, pending customary conditions. The offering is pursuant to a registration statement declared effective by the SEC on June 1, 2023.
Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) reported financial results for Q1 2024, with a revenue of $13.6 million, down from $20.1 million in Q1 2023. The Services Segment revenue decreased due to project delays from Continuing Resolution impacts. Treatment Segment revenue also declined because of lower waste volume and prices. The company reported a gross loss of $620,000, operating loss of $4.5 million, and a net loss of $3.6 million. Despite challenges, the company is optimistic about strategic wins and investments in new technology.
Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) commended the U.S. EPA for setting strict new regulatory and enforcement measures regarding PFAS. The company recently completed successful pilot tests for its Perma-FAS™ technology, offering a sustainable and cost-effective solution for PFAS destruction.
Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) has scheduled a conference call for May 9, 2024, at 11:00 AM Eastern Time. The call will be led by key executives and can be accessed via webcast or telephone. The Company will provide a business update during the call.
Perma-Fix Environmental Services, Inc. has been chosen by the U.S. Department of Energy to take part in a 10-year small business IDIQ contract worth up to $2 billion. The company will provide Deactivation, Decommissioning, and Removal services for various government agencies, reinforcing its position in the environmental services sector.
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