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.
Perimeter Solutions (NYSE: PRM) celebrates the 60th anniversary of its iconic PHOS-CHEK brand, a leading fire retardant in wildland firefighting since 1963. This milestone marks significant innovations in fire safety, enhancing firefighting effectiveness with various retardant viscosities. To commemorate, the company launched the PHOS-CHEK 60th Anniversary Virtual Museum, showcasing the brand's legacy, industry pioneers, and wildfire impacts. New content will be added monthly in 2023, reinforcing Perimeter's commitment to improving firefighting solutions.
Perimeter Solutions (NYSE: PRM) reported Q3 2022 net sales of $160.5 million, an 18% decline from Q3 2021. Year-to-date net sales increased 1% to $319.2 million. Fire Safety sales decreased 29% to $122.0 million, while Specialty Products improved, seeing a 68% rise to $38.5 million. Adjusted EBITDA fell 25% to $75.6 million in Q3, with Fire Safety down 38%. Year-to-date net income rose significantly to $123.7 million, or $0.70 per diluted share. Additionally, a new share repurchase authorization of $100 million was announced.
Perimeter Solutions (NYSE: PRM) will announce its third quarter 2022 financial results on November 4, 2022, before market opening. The earnings call is scheduled for 8:30 a.m. ET, featuring Vice Chairman Haitham Khouri, CEO Edward Goldberg, and CFO Charles Kropp. Investors can access the live webcast through the company's investor relations website. A replay of the call will be available until December 4, 2022. Perimeter Solutions is known for producing PHOS-CHEK® and other firefighting products.
Perimeter Solutions (NYSE: PRM) has launched the SOLBERG® RE-HEALING™ 3x3 SP-100 Fluorine-Free Foam Concentrate, the first UL-listed fluorine-free foam for sprinkler applications. This innovative product is designed to extinguish both Class A and Class B fires and meets the rigorous UL-162 safety standard. Additionally, it is biodegradable and free from PFAS and silicone chemistries. Currently undergoing FM testing, it is expected to be approved in early 2023. The foam can be used with various firefighting equipment, demonstrating excellent performance in diverse firefighting scenarios.
Perimeter Solutions reported a strong financial performance for the second quarter of 2022, with net sales increasing 31% year-to-date to $158.7 million. Both Fire Safety and Specialty Products segments saw significant growth, with sales at $85.0 million and $73.7 million, respectively. Adjusted EBITDA rose 39% to $47.7 million, reflecting strong operational efficiency. The company achieved a net income of $45.0 million, or $0.26 per diluted share, a notable turnaround from a net loss in the previous year.
Perimeter Solutions (NYSE: PRM) will release its second quarter 2022 financial results on August 5, 2022, before the market opens. A conference call discussing the results will follow at 8:30 AM ET, featuring Vice Chairman Haitham Khouri, CEO Edward Goldberg, and CFO Charles Kropp. The call will be accessible via Perimeter's investor relations website. A replay will be available until September 5, 2022.
Perimeter Solutions (NYSE: PRM) has appointed Jeff Emery as the new President of Global Fire Safety, responsible for the Fire Suppressant and Wildfire divisions. Emery, bringing over 20 years of industry experience from Norgren, Scott Safety, and 3M, is expected to strengthen the company's commitment to innovation and reliable products. CEO Edward Goldberg emphasized the importance of Emery's expertise in facing challenges in fire safety. Emery has also held advisory roles within the fire safety community, showcasing his dedication to saving lives and enhancing community protection.
Perimeter Solutions (NYSE: PRM) reported a remarkable 70% increase in net sales for Q1 2022, totaling $57.8 million, compared to $33.9 million in Q1 2021. Fire Safety sales surged 141% to $18.5 million, while Oil Additives saw a 50% increase to $39.3 million. The company shifted from a net loss of $18.5 million in the prior year to a net income of $37.8 million, equating to $0.22 per diluted share. Adjusted EBITDA soared 285% to $12.0 million, driven largely by the success in the Oil Additives segment.
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