Welcome to our dedicated page for Perimeter Solutions news (Ticker: PRM), a resource for investors and traders seeking the latest updates and insights on Perimeter Solutions stock.
Perimeter Solutions, SA (NYSE: PRM) is a global leader in producing high-quality firefighting products and lubricant additives. The company operates through two primary business segments: Fire Safety and Specialty Products. Headquartered in St. Louis, Missouri, Perimeter Solutions generates the majority of its revenue from the United States.
Under the Fire Safety segment, the company formulates, manufactures, and sells fire retardants and firefighting foams such as PHOS-CHEK® and FIRE-TROL® retardants, and AUXQUIMIA® and SOLBERG® firefighting foam concentrates. These products help combat various types of fires, including wildland, structural, and flammable liquid fires. Perimeter Solutions also offers specialized equipment and services like airbase retardant storage, mixing, and delivery equipment to support firefighting operations.
The Specialty Products segment focuses on producing Phosphorus Pentasulfide (P2S5), a key ingredient in creating Zinc Dialkyldithiophosphates (ZDDP) used for anti-wear protection in engine components. These products are also used in pesticides and mining chemicals.
Recent notable achievements include the GreenScreen Certification® for their SOLBERG® 3% MIL-SPEC Synthetic Fluorine-Free Foam, making it the first fluorine-free firefighting foam concentrate on the Department of Defense Qualified Products List (QPL) to earn this certification. This milestone underscores the company's commitment to providing environmentally responsible firefighting solutions.
Perimeter Solutions is also dedicated to sustainability, as highlighted in their second annual Environmental, Social, and Governance (ESG) report. They have aligned their efforts with the Task Force on Climate-related Financial Disclosures (TCFD) Framework and are focused on reducing carbon emissions and enhancing their health and safety program.
Financially, the company has seen mixed results in recent quarters. For the full year 2023, net sales decreased by 11% to $322.1 million, with a net income of $67.5 million. However, their fourth-quarter 2023 results showed a net sales increase of 44%, driven by significant growth in both Fire Safety and Specialty Products segments.
Investors can stay updated on Perimeter Solutions' performance and developments by visiting their investor relations website or joining their quarterly earnings calls.
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