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Perma-Fix Q3 revenue rises 2% but net loss widens

By Reuters News


Overview

  • U.S. nuclear waste manager's Q3 revenue rose slightly, driven by 46% growth in Services Segment

  • Company posted wider net loss and negative EBITDA, with substantial doubt about going concern status

  • Treatment backlog grew 25% during the quarter; upgrades and new pricing initiatives underway


Outlook

  • Company expects DFLAW-related waste volumes to increase as facility ramps up production

  • Perma-Fix anticipates continued demand for PFAS destruction due to new Florida legislation

  • Company says improved results are expected in the coming year with growing backlog and new pricing


Result Drivers

  • SERVICES SEGMENT GROWTH - Revenue rose 46% year over year in Services Segment, mainly due to increased project activity and new project awards

  • TREATMENT SEGMENT DELAYS - Revenue in Treatment Segment fell due to lower waste volumes processed, as customer-directed changes in treatment protocols delayed Hanford-related waste processing until late in the quarter

  • THERMAL SYSTEM UPGRADES - Temporary downtime for thermal treatment system upgrades at Florida and Kingston facilities contributed to reduced waste processing during the quarter


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EBITDA

-$3.10 mln


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the environmental services & equipment peer group is "buy"

  • Wall Street's median 12-month price target for Perma-Fix Environmental Services Inc is $30.00, about 134.2% above its November 4 closing price of $12.81


Reuters Recommended Reads

  • Nov 3 - Fuel Tech Q3 revenue rises on Air Pollution Control segment growth

  • Nov 4 - Canada's Biorem Q3 revenue rises to record high on new bookings

  • Nov 3 - Rayonier Advanced Materials Q3 sales and EBITDA miss estimates on tariffs, impairments


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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