Perma-fix Environmental Services ( (PESI) ) has released its Q3 earnings. Here is a breakdown of the information Perma-fix Environmental Services presented to its investors.
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Perma-Fix Environmental Services, Inc. is a nuclear services company specializing in nuclear and mixed waste management, offering services to federal agencies and the commercial nuclear sector. In its latest earnings report for the third quarter of 2024, Perma-Fix reported a decrease in revenue to $16.8 million from $21.9 million the previous year, primarily due to delays in waste shipments and service starts, as well as operational disruptions caused by Hurricane Helene. The company also noted a significant net loss of $9 million, partly due to a non-cash tax expense of $6.4 million. Despite these challenges, Perma-Fix announced the successful startup of its first commercial Perma-FAS system for PFAS destruction and highlighted a new long-term service project with a federal agency. The company is optimistic about future improvements in profitability and performance, with expectations of continued growth in its Services Segment and new technological applications, positioning itself for potential opportunities with the U.S. Department of Energy’s Hanford remediation mission.
