Q3 2024 Perma-Fix Environmental Services Inc Earnings Call Transcript

Nov 13, 2024 / 04:00 PM GMT

Release Date Price: €12.8 (-4.48%)

Transcript 10-Q

Key Points

Positve

Perma-Fix Environmental Services Inc (PESI) launched its first commercial Perma-Fast system for PFAS treatment, marking a significant milestone.
The company reported improvements in its services segment and treatment plants, with expectations for continued progress into Q4.
PESI's international segment is expected to generate nearly $7 million in revenue from larger waste streams from Canada, Mexico, and Germany.
The company was selected as an integrated subcontractor for a 10-year $3 billion project with a US government agency, reflecting strategic growth.
PESI's acquisition of the Environmental Waste Operations Center in Oak Ridge, Tennessee, enhances operational capabilities and productivity.

Negative

PESI reported a decrease in total revenue by 23.2% compared to the previous year, with both treatment and service segments experiencing declines.
Operational disruptions, including hurricane-related outages and equipment failures, particularly affected the Florida facility.
The company faced a net loss from continuing operations of $8.8 million, including a non-cash tax expense of approximately $6.4 million.
Gross profit dropped significantly due to lower revenue and higher fixed costs, impacting overall financial performance.
The nuclear services backlog appeared lighter in Q1, although the company expects this to be temporary.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PESI.OQ - Perma-Fix Environmental Services Inc
Q3 2024 Perma-Fix Environmental Services Inc Earnings Call
Nov 13, 2024 / 04:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the Perma Fix fiscal third quarter, 2024 earnings conference call. At this time, all participants are in a listen-only mode and we will open for questions following the presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Mr David Waldman of Crescendo Communications. David. The floor is yours.

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Unidentified_2 [2]
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