Q3 2025 Perma-Fix Environmental Services Inc Earnings Call Transcript
Key Points
- Perma-Fix Environmental Services Inc (PESI) reported a significant increase in revenue, with a $1.5 million rise compared to the same period last year.
- Gross profit more than doubled to $2.6 million, and gross margin expanded to 14.6% from 7.9%, driven by higher waste volumes and a favorable mix within treatment operations.
- The Treatment segment saw a 45% year-over-year revenue increase to $13.1 million, with segment gross margin improving to 17.3% from 4.5%.
- The company's treatment backlog ended the quarter at $15.4 million, up from $7.9 million a year ago, providing strong visibility through year-end and into 2026.
- Perma-Fix's PFAS destruction initiative achieved complete destruction of PFAS compounds at a 10% to 20% cost advantage to incineration, with 0 air emissions, positioning the company as a leader in this market.
- Revenue in the Services segment declined by approximately $3.4 million from the prior year quarter, primarily due to fewer active projects and the timing of new contract start-ups.
- The company reported a net loss for the quarter of $1.8 million, although this was an improvement from the $9 million loss last year.
- SG&A expenses increased by approximately $451,000 from the prior year, reflecting higher personnel-related costs and professional services expenses.
- The PFAS program is moving slower than originally anticipated, although it is now making progress.
- The temporary government shutdown may impact the timing of services, although the company expects higher DOE project activity as funding normalizes.
Good morning, everyone, and welcome to the Perma-Fix third-quarter 2025 earnings conference call. (Operator Instructions) Please note, this conference is being recorded.
I will now turn the conference over to your host, David Waldman of Crescendo Communications. David, the floor is yours.
Thank you, Jenny. Good morning, everyone. Welcome to Perma-Fix Environmental Services third-quarter 2025 conference call. On the call with us this morning are Mark Duff, President; Dr. Lou Centofanti, Executive Vice President of Strategic Initiatives; and Ben Naccarato, Chief Financial Officer.
The company issued a press release this morning containing third quarter 2025 financial results, which is also posted on the company's website. If you have any questions after the call, 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 within this conference call
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