Q4 2024 Perma-Fix Environmental Services Inc Earnings Call Transcript

Mar 13, 2025 / 03:00PM GMT

Release Date Price: $7.31 (+0.97%)

Transcript 10-K

Key Points

Positve

Perma-Fix Environmental Services Inc (PESI) is seeing improvement in Q1 2025 with a strengthened waste treatment backlog and increased waste volumes.
The company is well-positioned to support the Direct Fee Low-Activity Waste (DFLAW) program at Hanford, which is expected to begin operations in summer 2025.
Perma-Fix is expanding its presence in the industrial waste market, particularly in the Southeast region, and has secured a significant contract with DOE's West Valley demonstration project.
The company is making progress with its PFAS destruction technology, with plans to deploy a second-generation unit that will triple processing capacity by late Q3 2025.
Perma-Fix has strengthened its executive leadership team with the appointment of Troy Eshelman as Chief Operating Officer, bringing extensive experience in nuclear and environmental services.

Negative

Perma-Fix Environmental Services Inc (PESI) faced revenue shortfalls in 2024 due to delays in project starts, procurement cycles, and waste receipts, largely driven by federal budget resolutions.
The company's total revenue from continuing operations in Q4 2024 decreased by 35.2% compared to the previous year, with significant drops in both the Treatment and Services segments.
Gross profit for Q4 2024 was significantly lower than the previous year, impacted by lower revenue and higher labor and regulatory expenses.
The company reported a net loss of $3.5 million for Q4 2024, compared to a net income of $81,000 in the previous year.
Perma-Fix's PFAS initiatives have required substantial investment, impacting financial results, and the company anticipates higher costs in 2025 for the development of the second-generation unit.

Operator

Greetings. Welcome to the Perma-Fix fourth quarter and fiscal 2024 business update conference call. (Operator Instructions) Please note this conference is being recorded.

I will now turn the conference over to your host, David Waldman, Investor Relations at Perma-Fix. David, you may begin.

David Waldman

Perma-Fix Environmental Services Inc - Investor Relations

Thank you, and good morning, everyone, and welcome to Perma-Fix Environmental Services fourth quarter and year-end 2024 conference call. On the call with us this morning are Mark Duff, President and CEO; Dr. Lou Centofanti, Executive Vice President of Strategic Initiatives; and Ben Naccarato, Chief Financial Officer. The company issued a press release this morning containing fourth-quarter 2024 financial results, which is also posted on the company's website.

If you have any questions after the call or would like any additional information about the company, please contact Crescendo Communications at 212-671-1020. I'd also like to remind everyone that certain statements contained

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