PESI

Perma-Fix’s second quarter was marked by an 11.7% year-over-year decline in sales, with results meeting Wall Street’s revenue expectations but falling short on adjusted earnings. The market reacted negatively to these results, reflecting concerns over delayed waste processing and higher operating costs that led to a larger non-GAAP loss than analysts anticipated. CEO Mark Duff acknowledged the quarter was “not the quarter we wanted to deliver,” attributing the loss to a mismatch between costs incurred and revenue recognition due to customer-directed changes in treatment protocols and delayed project starts. Management also cited a shift toward processing lower-margin inventory, further compressing profitability. Is now the time to buy PESI? Find out in our full research report (it’s free). Revenue: $12.89 million vs analyst estimates of $12.9 million (11.7% year-on-year decline, in line) Adjusted EPS: -$0.32 vs analyst expectations of -$0.31 (3.2% miss) Adjusted EBITDA: -$5.89 million (-45.7% margin, 156% year-on-year decline) Adjusted EBITDA Margin: -45.7% Market Capitalization: $367.9 million While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Aaron Spychalla (Craig-Hallum) asked about expected waste volumes for grouting in 2027 and beyond. CEO Mark Duff detailed DOE’s plans for 60,000 gallons per month starting late 2026, potentially rising with new infrastructure. Spychalla (Craig-Hallum) inquired about regulatory permit modifications and their impact on project timelines. Duff explained that swift state regulator action could enable DOE to begin shipping waste for grouting later in Q4, pending public comment periods. Spychalla (Craig-Hallum) asked if recent contract modifications would affect the EMF waste stream. Duff confirmed the expectation of continued EMF waste processing, with volumes likely to ramp as DOE addresses operational issues at the DFLAW facility. Yuan Zhi (B. Riley) sought clarification on the company’s peak processing capacity and ramp timeline. Duff responded that capacity should reach over 10 million gallons annually by mid-2027, contingent on permit approval and equipment installation. Steve Fein (SoFein LLC) questioned storage capacity and the significance of DOE shifting some waste from vitrification to grouting. Duff confirmed storage upgrades are underway and characterized the contract as transformative due to its scope and regulatory support. Going forward, the StockStory team will be monitoring (1) timely completion of permit modifications and infrastructure upgrades at Perma-Fix Northwest, (2) the pace and consistency of Hanford-related task order awards and subsequent waste volume shipments, and (3) continued backlog growth in both the Treatment and Services segments. Additionally, operational execution on new DOE contracts and the ability to manage cost and schedule risks will be crucial signposts for Perma-Fix’s transition into higher-volume, long-term waste processing. Perma-Fix currently trades at $17.41, down from $19.43 just before the earnings. Is the company at an inflection point that warrants a buy or sell? Find out in our full research report (it’s free for active Edge members). ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 315%, 314%, and 455%, respectively. Find out which 5 stocks it’s flagging this month — FREE. Get Our Top 5 Growth Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today.

Interested in Perma-Fix Environmental Services, Inc.? Here are five stocks we like better. Second-quarter results missed expectations: Revenue fell to $12.9 million from $14.6 million a year earlier, while the net loss widened to $6.2 million, or $0.32 per share. Hanford-related processing delays, lower volumes and an unfavorable waste mix pressured treatment revenue and margins. Hanford represents a major long-term opportunity: Perma-Fix received a master subcontract supporting a broader Hanford contract with a shared ceiling of approximately $4.4 billion, though no specific revenue has been awarded. The company is seeking permit expansions and plans facility upgrades, with expanded capability targeted around the third quarter of 2027. Liquidity and future activity improved: Cash increased to $20.5 million after a $21 million equity offering, while the services segment’s revenue rose 44% to $4.6 million and services backlog exceeded $17 million. DFLAW waste receipts began in July, and management expects delayed Hanford waste processing to catch up by the end of the third quarter. Unusually High Volume Points to Upside in These Stocks Perma-Fix Environmental Services (NASDAQ:PESI) reported second-quarter results that fell below management’s expectations, as delayed processing of Hanford-related waste pushed associated revenue into the second half of the year. Revenue for the quarter was $12.9 million, down from $14.6 million a year earlier, while the company recorded a net loss of $6.2 million, or $0.32 per share. That compared with a net loss of $2.7 million, or $0.15 per share, in the prior-year quarter. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat “Our second quarter financial results were below expectations,” President and CEO Mark Duff said. “Revenue was at $12.9 million, and we reported a net loss of $6.2 million. That is not the quarter we wanted to deliver.” Chief Financial Officer Ben Naccarato said treatment-segment revenue declined by about $3.1 million from the prior year, reflecting lower processing volumes, an unfavorable waste mix, higher variable costs and lower gross profit. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be According to Duff, the company received the Hanford-related waste streams it expected during the quarter, but a customer-directed change to treatment protocols delayed processing. The revisions were made to accommodate a change in disposal facilities, allowing Perma-Fix to receive waste for solidification but delaying processing and revenue recognition. The company had already added personnel and incurred operating expenses to handle the expected waste volumes, creating a mismatch between second-quarter costs and revenue expected later in the year. Duff said Perma-Fix expects to begin processing the delayed waste shortly and to be caught up by the end of the third quarter. → First Solar’s Profit Engine Faces a New Policy Test in Washington Several new services projects also began later than anticipated, while the company processed lower-margin stored waste inventory that compressed treatment margins. Duff said that work is now substantially complete and has freed capacity ahead of anticipated tank-waste receipts. Despite the lower treatment revenue, new waste receipts increased by $4.1 million from the first quarter. Treatment backlog rose 29% sequentially to $15.7 million at June 30, from $12.2 million at March 31. Naccarato said the backlog represented an indicator of customer demand and future processing activity. Management focused much of the call on a newly announced master subcontract related to tank-waste operations and closure work at the U.S. Department of Energy’s Hanford site. Hanford Tank Contractor H2C awarded master subcontracts to Perma-Fix Northwest and two other companies for grouting and disposal work supporting the tank retrieval and disposition mission. The broader master indefinite-delivery, indefinite-quantity contract has a maximum value of approximately $4.4 billion, with task orders eligible to be issued from 2027 through 2041. Duck emphasized that the contract ceiling is shared among subcontractors and does not represent an awarded or committed amount for Perma-Fix. Specific work will depend on task orders issued by H2C. Perma-Fix Northwest is located about one mile from the Hanford site and is currently permitted to grout up to 1.2 million gallons annually. The company has submitted a permit-modification request to Washington State’s Department of Ecology to expand capacity to levels it says can support DOE objectives for both Hanford’s east and west tank areas. Management said facility upgrades, including treatment equipment, infrastructure work and expanded mixing capacity, are in design and procurement. Duff said the company expects the expanded capability to be operating around the third quarter of 2027, subject to regulatory approvals and project execution. DOE has publicly outlined a “dual glass-plus-grout” strategy that combines vitrification with grouting. Duff said DOE estimates about 60,000 gallons per month could be available for grouting beginning as early as the fourth quarter of 2026, increasing to approximately 130,000 gallons monthly by 2028 as its advanced modular pretreatment system reaches operation. Management also cited DOE goals calling for up to 9 million gallons of pretreated waste to be grouted annually across Hanford’s east and west tank areas by 2030. Duff said Perma-Fix is preparing to meet that potential demand, though he noted that task orders have not yet been issued. In early July, subsequent to the quarter’s end, Perma-Fix began receiving liquid effluent waste from Hanford’s Direct-Feed Low-Activity Waste, or DFLAW, facility. The company has also begun receiving dry waste generated by DFLAW operations for processing and disposal at the local Hanford landfill. DFLAW remains in a ramp-up phase. Duff said the facility had been operating at roughly 10,000 gallons per month on average, though he said management was told it processed 35,000 gallons in July and expected a higher volume in August. Meanwhile, the company’s Nuclear Services segment posted revenue of $4.6 million, up 44% from $3.2 million a year earlier. Naccarato said growth was driven by several new project awards, partly offset by completion of projects that contributed revenue in the prior year. Perma-Fix said its services backlog exceeds $17 million over the next 18 months, including work following a previously announced approximately $24 million Lawrence Livermore Master Task Agreement. Duff said services work can also generate material that subsequently flows through the company’s treatment facilities. Perma-Fix ended the quarter with $20.5 million in cash, compared with $11.8 million at the end of 2025, following a May public offering that generated approximately $21 million in net proceeds. Working capital totaled $18.4 million, and total debt stood at approximately $2.1 million. The company used $8.8 million of cash in operating activities during the first half, primarily due to operating losses and working-capital requirements. It invested $2.9 million in capital expenditures and other investing activities, including about $2.7 million for strategic projects intended to support growth and operating capability. Naccarato addressed a going-concern disclosure in the company’s Form 10-Q, saying it was included because forecasts rely on government-directed waste shipments and project activity that are not guaranteed. However, he said management expects existing liquidity, anticipated operating cash flow and borrowing availability to fund operations for at least the next 12 months. The company also amended its PNC Bank credit agreement after quarter-end, extending its maturity from May 2027 to May 2030. Perma-Fix Environmental Services, Inc (NASDAQ: PESI) is a specialized provider of environmental and nuclear waste management solutions. The company offers a comprehensive suite of services, including treatment, recycling, processing, volume reduction and disposal of hazardous, radioactive and mixed wastes. Its capabilities span thermal, chemical and physical treatment technologies, supported by a network of licensed facilities designed to handle complex waste streams. Founded in 1994 and headquartered in Atlanta, Georgia, Perma-Fix has grown both organically and through strategic acquisitions. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Perma-Fix Environmental Services Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Release Date: August 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Perma-Fix Environmental Services Inc (NASDAQ:PESI) secured a master IDIQ subcontract for the Hanford tank waste grouting program, with a maximum contract value of approximately $4.4 billion, providing a significant long-term growth opportunity. The company has begun receiving liquid effluent waste from the Hanford DFL facility, marking a key operational milestone and a new recurring revenue stream. Treatment backlog grew by 29% to $15.7 million, indicating strong customer demand and improved visibility into future processing activity. The nuclear services segment showed robust growth, with revenue up 44% year-over-year, adding stability and serving as a feeder for treatment volumes. The company strengthened its balance sheet with a $21 million equity offering, ending the quarter with $20.5 million in cash and low debt, supporting planned capacity expansions. Second quarter revenue of $12.9 million and a net loss of $6.2 million were below expectations, primarily due to customer-directed delays in treatment protocols. The company incurred operating costs for added personnel and handling volumes without corresponding revenue recognition, creating a cost-revenue mismatch in Q2. Several new services projects started later than anticipated, contributing to the quarterly revenue shortfall. Processing of previously stored, lower-margin inventory waste compressed treatment margins during the quarter. The company faces uncertainty regarding the timing and volume of task orders under the new Hanford contract, as the $4.4 billion ceiling is shared among multiple subcontract holders and not guaranteed. Warning! GuruFocus has detected 4 Warning Sign with PESI. Is PESI fairly valued? Test your thesis with our free DCF calculator. Q: Can you elaborate on the potential volumes for grouting later this year and into 2027, given the H2C master subcontract award and the excess capacity on the east side? A: Mark Duff (President and CEO) explained that while DOE hasn't formally awarded task orders yet, their public presentations (including a graphic shown at the Hanford Advisory Board meeting) specify Perma-Fix Northwest by name as the routing provider. They anticipate receiving 60,000 gallons per month from the AP 106 tank beginning late 2026, which is within their existing 1.2 million gallon annual permit. By 2028, with the Advanced Modular Treatment System (AMS) operational, volumes are expected to increase to approximately 130,000 gallons per month. The west side program is a substantially larger opportunity, with DOE targeting 9 million gallons annually by 2030. Q: What is your peak processing capacity and how long will it take to ramp up to meet the H2C requirements? A: Mark Duff (President and CEO) stated that current capacity is 1.2 million gallons per year (about 100,000 gallons per month). They are modifying their permit to increase this to over 10 million gallons, with the permit expected to be approved by Q2 2027. The critical path is the state regulatory approval, but they are already pouring concrete, purchasing heavy equipment, and training staff. The new mixers will provide significant redundancy to ensure they can meet DOE's demand without constraints. Q: Based on the maximum cumulative quantity of 50 million gallons and maximum cumulative value of $4.3 billion, is it reasonable to assume an average revenue per gallon of about $86? A: Mark Duff (President and CEO) cautioned against making that simple assumption. The contract includes various waste types with different treatment requirementsbasic waste, waste with high organics and metals requiring additional treatment surcharges, and higher radioactivity Class B&C waste which carries significantly higher costs. The actual average could be higher or lower depending on the waste mix, and the contract could hit either limit (volume or value) first depending on the complexity of the waste received. Q: How should investors think about revenue visibility and potential lumpiness as Hanford volumes scale versus historical patterns? A: Mark Duff (President and CEO) described this as "by far the most sustainable waste stream our company has ever seen" due to its long-term nature and homogeneity. While DOE anticipates about 50% downtime as they move from tank to tank, the combination of east and west side programs should smooth out the lumpiness. This allows for much better forecasting on a year-to-year basis compared to historical waste streams. Q: Can you clarify the timeline for the plant expansion and what the storage capacity will be after upgrades? A: Mark Duff (President and CEO) clarified that they are not building new buildings but upgrading existing infrastructureHVAC, power, concrete for truck traffic, and installing new mixers. The permit modification and installation should be complete by this time next year (Q3 2027). Current storage capacity is about 650,000 gallons, which will increase to 800,000 gallons with the permit modification, providing adequate buffer for receipt during outages. Q: Is it significant that the government is now diverting some waste from vitrification to grouting? A: Mark Duff (President and CEO) confirmed this is a major development. DOE's "dual glass plus grout strategy" recognizes that grouting is substantially cheaper (under $50 per gallon versus roughly $1,200 per gallon for vitrification) and allows for faster tank closure within budget constraints. The administration is focused on demonstrating progress at Hanford, and grouting makes the entire life-cycle closure achievable in a more aggressive timeframe. Q: Regarding the EMF waste stream, do you anticipate any impact to that program now that it's included in the H2C contract? A: Mark Duff (President and CEO) explained that the current EMF contract was non-competitive and used an existing vehicle with Energy Solutions as prime. They expect the H2C contract to become the vehicle for EMF waste beginning January 2027. Currently, DFL is operating at about 10% capacity (10,000 gallons per month), but July saw 35,000 gallons and August is expected to be significantly higher. As DFL ramps up, EMF waste volumes will increase substantially. Q: Can you discuss the costs and investments needed for the permit expansion and labor force as you bring on the larger capacity? A: Mark Duff (President and CEO) noted the relationship with the Department of Ecology has improved significantly. They began working on the permit modification in February, have completed designs for the new mixers, poured concrete, and begun purchasing heavy equipment for training. The permit is expected to take 9-12 months, targeting Q2 2027. They haven't yet purchased the new mixers, waiting for the contract award to confirm details, but are anxious to proceed given confidence in DOE's commitment. Q: Is it true that every gallon of waste you process is fully treated with no secondary waste, unlike vitrification which generates additional waste streams? A: Mark Duff (President and CEO) confirmed that for grouting, 100% of the waste is treated and solidified. He clarified that vitrification does vitrify 100% of the liquids that go in, but the process generates significant secondary waste (filters, PPE, chemical waste streams, and EMF waste from tank bottoms and scrubbing systems). This is a distinct advantage of the grouting approachno additional waste is generated in the treatment process. Q: With the tanks containing solid waste that needs to be liquefied, could the total volume to be processed be significantly higher than the 56 million gallons in the tanks? A: Mark Duff (President and CEO) confirmed that DOE estimates a minimum of 3 gallons of liquid is needed to retrieve each gallon of tank waste, meaning approximately 200 million gallons total will need to be processed. He noted that the exact ratio of EMF waste to tank waste at full DFL capacity is still uncertain, as the facility is currently operating at only 10% capacity, but the scale of the opportunity is substantial. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Environmental waste treatment and services provider Perma-Fix (NASDAQ:PESI) met Wall Street’s revenue expectations in Q2 CY2026, but sales fell by 11.7% year on year to $12.89 million. Its GAAP loss of $0.32 per share was 3.2% below analysts’ consensus estimates. Is now the time to buy Perma-Fix? Find out in our full research report. Revenue: $12.89 million vs analyst estimates of $12.9 million (11.7% year-on-year decline, in line) EPS (GAAP): -$0.32 vs analyst expectations of -$0.31 (3.2% miss) Adjusted EBITDA: -$5.89 million (-45.7% margin, 156% year-on-year decline) Adjusted EBITDA Margin: -45.7%, down from -15.8% in the same quarter last year Market Capitalization: $412 million Mark Duff, President and Chief Executive Officer of Perma-Fix, commented, “The second quarter did not deliver the financial results we expected, but it did deliver several key operational milestones we have been working toward for years. Our Perma-Fix Northwest (PFNW) facility began receiving Hanford-related waste streams as forecast, driving a 29% increase in treatment backlog to approximately $15.7 million at June 30, 2026, from $12.2 million at the end of the first quarter. In early July, PFNW began receiving liquid effluent wastes from the Direct-Feed Low-Activity Waste (DFLAW) facility — a major milestone for the Company and the culmination of years of permitting, capital investment and operational preparation. We have since begun receiving additional waste streams from DFLAW operations, and we expect those volumes to increase. Tackling hazardous waste challenges since 1990, Perma-Fix (NASDAQ:PESI) provides environmental waste treatment services. A company’s long-term performance is an indicator of its overall quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Over the last five years, Perma-Fix’s demand was weak and its revenue declined by 10.2% per year. This was below our standards and suggests it’s a low quality business. We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. Perma-Fix’s annualized revenue declines of 11% over the last two years align with its five-year trend, suggesting its demand has consistently shrunk. This quarter, Perma-Fix reported a rather uninspiring 11.7% year-on-year revenue decline to $12.89 million of revenue, in line with Wall Street’s estimates. Looking ahead, sell-side analysts expect revenue to grow 66.7% over the next 12 months, an improvement versus the last two years. This projection is eye-popping and indicates its newer products and services will fuel better top-line performance. ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention. AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice. Operating margin is one of the best measures of profitability because it tells us how much money a company takes home after procuring and manufacturing its products, marketing and selling those products, and most importantly, keeping them relevant through research and development. Perma-Fix’s high expenses have contributed to an average operating margin of negative 14.6% over the last five years. Unprofitable industrials companies require extra attention because they could get caught swimming naked when the tide goes out. It’s hard to trust that the business can endure a full cycle. Analyzing the trend in its profitability, Perma-Fix’s operating margin decreased by 24.1 percentage points over the last five years. Perma-Fix’s performance was poor no matter how you look at it - it shows that costs were rising and it couldn’t pass them onto its customers. This quarter, Perma-Fix generated a negative 50.5% operating margin. The company’s consistent lack of profits raises a flag. Free cash flow isn’t a prominently featured metric in company financials and earnings releases, but we think it’s telling because it accounts for all operating and capital expenses, making it tough to manipulate. Cash is king. Perma-Fix’s demanding reinvestments have drained its resources over the last five years, putting it in a pinch and limiting its ability to return capital to investors. Its free cash flow margin averaged negative 13.3%, meaning it lit $13.32 of cash on fire for every $100 in revenue. Taking a step back, we can see that Perma-Fix’s margin dropped by 15.5 percentage points during that time. Almost any movement in the wrong direction is undesirable because it is already burning cash. If the trend continues, it could signal it’s in the middle of a big investment cycle. We struggled to find many positives in these results. Its EBITDA missed and its EPS fell short of Wall Street’s estimates. Overall, this quarter could have been better. Still, the stock traded up 7.8% to $20.93 immediately following the results. Is Perma-Fix an attractive investment opportunity at the current price? What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here, it’s free.

Company awarded Master IDIQ Subcontract by Hanford Tank Waste Operations & Closure, LLC for grouting and disposal of Hanford mixed low-level waste; task orders eligible to be issued beginning January 2027 Perma-Fix Northwest begins receiving liquid effluent waste from the Direct-Feed Low-Activity Waste (DFLAW) facility — a major milestone for the Company Treatment backlog up 29% to $15.7 million; Services revenue up 44% DOE’s recently announced Hanford Dual Glass-Plus-Grout Strategy creates what the Company believes could become the largest commercial opportunity in its history ATLANTA, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the “Company”) today announced financial results and provided a business update for the second quarter ended June 30, 2026. Mark Duff, President and Chief Executive Officer of Perma-Fix, commented, “The second quarter did not deliver the financial results we expected, but it did deliver several key operational milestones we have been working toward for years. Our Perma-Fix Northwest (PFNW) facility began receiving Hanford-related waste streams as forecast, driving a 29% increase in treatment backlog to approximately $15.7 million at June 30, 2026, from $12.2 million at the end of the first quarter. In early July, PFNW began receiving liquid effluent wastes from the Direct-Feed Low-Activity Waste (DFLAW) facility — a major milestone for the Company and the culmination of years of permitting, capital investment and operational preparation. We have since begun receiving additional waste streams from DFLAW operations, and we expect those volumes to increase. “Separately, as announced today, H2C has awarded the Company a Master Indefinite Delivery/Indefinite Quantity (IDIQ) Subcontract for the treatment and disposal of pretreated liquid mixed low-level waste from the Hanford Site, effective August 11, 2026, with task orders eligible to be issued from January 1, 2027 through December 31, 2041. The procurement is a multiple- IDIQ award arrangement, and its maximum ceiling quantity of 50 million gallons and maximum value of approximately $4.4 billion are shared among all Master IDIQ Subcontract holders; they do not represent amounts awarded or committed to Perma-Fix, and the number, size and timing of task orders issued to the Company, if any, cannot be assured. H2C awarded Master IDIQ Subcontracts to two other companies under this procurement, and we believe PFNW competes for task orders from a position of strength. Ours is the only facility of the three located adjacent to the Hanford Site, meaning liquid tank waste travels only a short distance for treatment, and waste leaves our facility only as a stabilized, grouted solid, shipped out of state by rail for disposal. That proximity, together with the licensing, permitting and operational foundation we have built at PFNW over many years and the capacity investments already underway, is why we believe we are strongly positioned as task orders are issued. “Our second quarter financial results do not reflect these developments. Customer-directed changes in treatment protocols required us to delay processing of certain Hanford-related waste streams received during the quarter, shifting the associated revenue into the second half of the year while the personnel and operating costs we had added in anticipation of those receipts were incurred in the quarter. We expect to commence treatment of these wastes during the third quarter. During the second quarter, we also substantially completed the processing of previously stored, lower-margin waste inventories, which will free up capacity ahead of anticipated tank waste receipts. "We are highly encouraged by the outlook for the second half of 2026 — an outlook further strengthened by the U.S. Department of Energy's (DOE) recently announced Hanford Dual Glass-Plus-Grout Strategy. As presented publicly by DOE, grouting is a proven technology already approved under the Hanford Holistic Agreement and is expected to provide up to 300% more throughput while reducing treatment and disposal costs by supplementing the vitrification program with commercially available grouting capacity, resulting in significant acceleration of tank closures. The Glass-plus-Grout approach includes acceleration of DOE’s 200 East Area tank retrieval through the existing TSCR (Tank-Side Cesium Removal) through 2027, with the addition of the AMPS (Advanced Modular Pretreatment System) before 2028, reaching a total removal capacity of 300,000 gallons per month of pretreated tank waste in 2028, to be processed by grouting and DFLAW. However, state regulatory approval is still required to move forward with implementation. DOE's planning materials reflect its current strategy and do not commit waste volumes to any particular provider. Our PFNW facility provides permitted commercial treatment capacity immediately adjacent to the Hanford Site providing minimal public road shipments of liquid tank waste with only grouted final waste forms shipped out of state via rail. “Separately, DOE’s West Area tank program represents a substantially larger opportunity, and DOE totals across both the East and West tank areas are targeted to reach 9 million gallons annually by 2030. No task orders have been issued under the Master Subcontract to date. PFNW is working with Washington State regulators to expand our grouting permit from an existing annual capacity of 1.2 million gallons per year to levels that meet DOE’s objectives for both the East and West tanks. The facility is in final design and procurement for the upgrades needed to achieve that expanded capacity by the third quarter of 2027. Implementation requires continued coordination with Washington State regulators, and DOE’s proposed permit modifications remain subject to public review — a process we actively support and are engaged in. Based on the volumes contemplated in DOE’s current plan, we believe the Hanford tank waste grouting program could represent the largest commercial opportunity in the Company’s history. “Our Services Segment provides a second engine of growth, with revenue up 44% year over year in the quarter. Following the approximately $24 million Lawrence Livermore National Laboratory award in the first quarter, we secured additional contracts at multiple DOE facilities as well as commercial and international customers, supporting services backlog of over $17 million over the next year. This backlog adds performance stability while generating additional waste receipts for our treatment facilities. Combined with the DFLAW ramp, the strengthened balance sheet from our May equity offering, and the strategic partnership with Mirion Technologies announced earlier this month, we believe Perma-Fix enters the second half of 2026 better positioned than at any point in the Company’s history.” Financial Results Revenue for the second quarter of 2026 was approximately $12.9 million, compared with approximately $14.6 million for the same period last year. The decline was entirely attributable to our Treatment Segment, where revenue decreased to $8.3 million for the three months ended June 30, 2026, from $11.4 million in the same period of 2025. The decrease in Treatment Segment revenue was primarily due to lower waste volume and a less favorable revenue mix. The less favorable revenue mix reflected lower average pricing associated with the processing of certain previously stored waste inventories in anticipation of increases in Hanford-related waste volumes. Revenue in our Services Segment increased to $4.6 million for the three months ended June 30, 2026, from $3.2 million in the same period of 2025, primarily due to a higher volume of project work. Because revenue in our Services Segment is project-based, the scope, duration, timing, and completion of individual projects can vary significantly from period to period. As a result, revenue may fluctuate between reporting periods depending on the timing, scope, and mix of projects performed. Gross loss for the second quarter of 2026 was $2.5 million, compared with gross profit of $1.5 million for the second quarter of 2025. Our Treatment Segment incurred a gross loss of $2.6 million for the second quarter of 2026, compared with gross profit of $1.6 million for the same period of 2025. The decrease in gross profit of approximately $4.2 million and the decline in gross margin to (32.0%) from 13.7% were primarily due to lower revenue resulting from reduced waste volumes and a less favorable revenue mix. In addition, higher fixed operating costs, which were spread over a lower revenue base, further reduced gross profit and gross margin. Services Segment gross profit was approximately $149,000 for the second quarter of 2026, compared with a gross loss of approximately $19,000 for the same period of 2025. The increase in gross profit of approximately $168,000 and the improvement in gross margin to 3.2% from (0.6%) were primarily attributable to higher revenue, as discussed above. Gross margins within our Services Segment are influenced by the type, scope, and mix of projects performed, which are generally competitively bid and therefore have varying margin structures. As a result, gross margins may fluctuate from period to period based on the timing and mix of projects completed. Operating loss for the second quarter of 2026 was approximately $6.5 million versus operating loss of $2.9 million for the second quarter of 2025. Net loss for the second quarter of 2026 was approximately $6.2 million or a loss per basic share of $(0.32), compared to net loss of approximately $2.7 million or a loss per basic share of $(0.15) for the same period of 2025. Our Quarterly Report on Form 10-Q for the period ended June 30, 2026 continues to disclose that our recurring operating losses and negative operating cash flows have raised substantial doubt about our ability to continue as a going concern. Our May 2026 public equity offering strengthened our liquidity, and subsequent to quarter-end we extended the maturity of our PNC credit facility from May 2027 to May 2030, among other things. We expect our existing liquidity, anticipated operating cash flows, and borrowing availability to be sufficient to fund our operations over the next twelve months. However, management concluded that the substantial doubt was not alleviated because a significant portion of the revenues and cash flows underlying our forecast depends on the timing and volume of waste shipments and project activity directed by U.S. government customers, and such activity is subject to factors outside our control. The Company reported EBITDA of ($5.9) million from continuing operations for the quarter ended June 30, 2026, compared to EBITDA of ($2.3) million from continuing operations for the same period of 2025. The Company defines EBITDA as earnings before interest, taxes, depreciation and amortization. EBITDA is not a measure of performance calculated in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”), and should not be considered in isolation of, or as a substitute for, earnings as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. The Company believes the presentation of EBITDA is relevant and useful by enhancing the readers’ ability to understand the Company’s operating performance. The Company’s management utilizes EBITDA as a mean to measure performance. The Company’s measurement of EBITDA may not be comparable to similar titled measures reported by other companies. The table below reconciles EBITDA, a non-GAAP measures, to GAAP numbers for loss from continuing operations for the three and six months ended June 30, 2026, and 2025. The tables below present certain financial information for the business segments, which excludes allocation of corporate expenses. Conference Call Perma-Fix will host a conference call at 4:30 PM Eastern Time on Wednesday, August 12, 2026. The call will be available on the Company’s website at https://ir.perma-fix.com/conference-calls, or by calling toll-free: 877-545-0523 for U.S. callers or +1 973-528-0016 for international callers, and by entering access code: 180833. The conference call will be led by Mark J. Duff, Chief Executive Officer, Dr. Louis F. Centofanti, Executive Vice President of Strategic Initiatives, and Ben Naccarato, Executive Vice President and Chief Financial Officer of Perma-Fix Environmental Services, Inc. A webcast will also be archived on the Company’s website and a telephone replay of the call will be available approximately one hour following the call, through Wednesday, August 26, 2026, and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering access code: 54338. About Perma-Fix Environmental Services Perma-Fix Environmental Services, Inc. is a nuclear services company and leading provider of nuclear and mixed waste management services. The Company's nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the DOE, U.S. Department of War (DOW), and the commercial nuclear industry. The Company’s nuclear services group provides project management, waste management, environmental restoration, decontamination and decommissioning, demolition, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates four nuclear waste treatment facilities and provides nuclear services at DOE, DOW, and commercial facilities nationwide. Please visit us at http://www.perma-fix.com. This press release contains “forward-looking statements” which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements generally are identifiable by use of the words such as “believe”, “expects”, “intends”, “anticipate”, “plans to”, “estimates”, “projects”, and similar expressions. Forward-looking statements include, but are not limited to: outlook for the second half of 2026; commencement and timing of treatment of Hanford-related waste streams received during the second quarter; continued and increasing receipts of DFLAW-related waste streams; anticipated tank waste receipts; implementation, timing and volumes contemplated under DOE’s Hanford Dual Glass-Plus-Grout Strategy, including estimated monthly and annual tank waste volumes through 2030 and anticipated throughput and disposal cost benefits; DOE’s identification of Perma-Fix Northwest in its publicly presented dual-path materials; the West Area tank program representing a substantially larger opportunity; the potential incremental revenue opportunity associated with the grouting of Hanford tank waste and our characterization of that opportunity, including as the largest commercial opportunity in the Company’s history; the issuance of task orders for East Area or West Area tank waste; expansion of our grouting permit capacity and completion of related facility upgrades by the third quarter of 2027; realization of Services Segment backlog and additional waste receipts resulting therefrom; anticipated benefits of the strategic partnership with Mirion Technologies; the Master IDIQ Subcontract awarded by H2C; the issuance, number, size and timing of task orders under the Master IDIQ Subcontract, if any; the maximum quantity and maximum value of the Master IDIQ Subcontract, which are ceilings shared among all Master IDIQ Subcontract holders and are not indicative of revenue to the Company; continued coordination with Washington State regulators and other stakeholders and the outcome of public review of DOE’s proposed permit modifications; and the Company being better positioned than at any point in its history. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; our ability to apply and market our new technologies; acceptance of our PFAS technology by the public; the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract or terminates existing contracts; Congress fails to provide funding for the DOW’s and DOE’s remediation projects; inability to obtain new foreign and domestic remediation contracts; the failure of H2C or DOE to issue task orders to the Company under the Master IDIQ Subcontract, or to issue them in the quantities or on the timing anticipated; competition from the other holders of Master IDIQ Subcontracts under the same procurement; the fact that identification of our facility in DOE planning or public materials does not constitute a contract, an award, or a commitment of any waste volumes; inability to be awarded any portion of DOE’s East Side or West Side tank waste grouting programs; failure or delay in obtaining approval from the Washington State Department of Ecology to expand our grouting permit capacity; delays or increased costs in completing the facility upgrades required to achieve expanded capacity; the fact that DOE’s proposed permit modifications remain in draft form and subject to public comment and regulatory approval; opposition from state or regional regulators, governmental bodies, tribes or other stakeholders to the grouting or offsite transport and disposal of Hanford tank waste; litigation or administrative challenges to DOE’s tank waste treatment approach; changes in DOE’s treatment strategy, priorities or plans, or in the volumes, timing, composition or pricing of waste actually shipped to our facilities; and the additional factors referred to under “Risk Factors” and "Special Note Regarding Forward-Looking Statements" of our 2025 Form 10-K and Form 10-Qs for quarters ended March 31, 2026 and June 30, 2026. The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements. Contacts:David K. Waldman-US Investor RelationsCrescendo Communications, LLC(212) 671-1021 Herbert Strauss-European Investor [email protected]+43 316 296 316

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. The Q2 net loss was primarily driven by a mismatch in timing where operating costs were incurred for personnel and facility upgrades, but revenue recognition was delayed due to customer-directed changes in treatment protocols. Management emphasized that while financial results were below expectations, the quarter delivered long-sought operational milestones, specifically the award of the $4.4 billion Hanford tank waste master IDIQ contract. Treatment-related backlog grew 29% to $15.7 million, indicating that while processing was delayed, the inflow of waste streams from the Hanford site is accelerating as planned. The company processed lower-margin legacy inventory during the quarter to clear capacity for the anticipated high-volume tank waste receipts expected in the second half of the year. Perma-Fix Northwest is positioned as the only local facility capable of grouting liquid waste near the point of generation, avoiding the risks and costs of long-haul liquid transport across state lines. The Nuclear Services segment grew 44% year-over-year, acting as a stabilizing 'second engine' and a feeder for the Treatment segment through waste retrieval operations. A new strategic partnership with Mirion Technologies was established to combine Perma-Fix's treatment infrastructure with advanced radiation detection for more complex DOE cleanup missions. Management expects to catch up on delayed waste processing by the end of the third quarter, aligning revenue recognition with previously incurred costs. The company is currently expanding its annual grouting permit from 1.2 million gallons to over 10 million gallons to meet the DOE's goal of 9 million gallons annually by 2030. DOE projections suggest approximately 60,000 gallons per month will be available for grouting starting as early as Q4 2026, increasing to 130,000 gallons per month by 2028. Facility upgrades, including new mixing technology and infrastructure for direct rail shipments, are scheduled for completion by the third quarter of 2027. The PFAS destruction platform is expected to see a stronger Q3 based on a current pipeline of nearly $8 million in future award opportunities. The $4.4 billion Hanford contract value represents a ceiling shared among three subcontract holders, not a guaranteed award amount for Perma-Fix. A 'going concern' disclosure was included in the 10-Q due to the company's dependence on the timing of government-directed waste shipments, which remain outside management's direct control. The company completed a $21 million equity offering in May to fund strategic capital projects, specifically the DFLAW and grouting capacity upgrades. Subsequent to the quarter, the company extended its credit agreement maturity with PNC Bank to May 2030, improving long-term liquidity stability. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management expects task orders to be issued in the next several months, with DOE graphics explicitly naming Perma-Fix Northwest as the recipient for specific waste streams. Initial volumes are projected at 60,000 gallons per month, potentially scaling to 130,000 gallons per month as the Advanced Modular Pretreatment System (AMPS) comes online in 2028. The State of Washington recently initiated an aggressive 60-day public comment period for permit modifications, suggesting a collaborative relationship between regulators and the DOE. If the timeline holds, the company could be in a position to receive and treat new waste streams as early as late Q4 2026. Management declined to provide a specific average revenue per gallon, noting that pricing varies significantly based on waste complexity, organic content, and radioactivity levels (Class B/C waste). The contract includes surcharges for enhanced treatment requirements, which will impact the total value realized from the 50-million-gallon ceiling. Management clarified that while vitrification is the primary DOE strategy, grouting is a critical, lower-cost supplement that allows for faster tank closure within existing budgets. Grouting treats 100% of the liquid waste received without generating the significant secondary liquid waste streams associated with the vitrification process.

Long Cast Advisers, an independent registered investment adviser, released its Q2 2026 investor letter. A copy can be downloaded here. The firm reported strong earnings in the second quarter, with results improving 20%, bringing year-to-date returns to +19%. While performance trailed the Russell 2000 and iShares US MicroCap ETF, it remained well ahead of the iShares SmallCap EAFE (ex-N. Am) ETF. Since inception in 2015, cumulative returns stand at 343% (15% CAGR), reflecting the firm’s strategy of concentrated, patient investments in small and micro‑cap companies. The firm remains cautious in this environment, emphasizing patience and endurance while avoiding margin and volatility. In addition, please check the firm’s top five holdings to know its best picks in 2026. In its Q2 2026 investor letter, Long Cast Advisers highlighted Perma-Fix Environmental Services, Inc. (NASDAQ:PESI). Headquartered in Atlanta, Georgia, Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) is an environmental and technology know-how company. The one-month return of Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) was 22.95%, and its shares gained 50.00% over the last 52 weeks. On August 07, 2026, Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) stock closed at $18.08 per share, with a market capitalization of $383.36 million. Long Cast Advisers stated the following regarding Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) in its Q2 2026 investor letter: Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 10 hedge fund portfolios held Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) at the end of the first quarter, compared to 11 in the previous quarter. While we acknowledge the potential of Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors. READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years. Disclosure: None. This article is originally published at Insider Monkey.

Perma-Fix reported a weak Q1 with revenue of $11.1 million (down from $13.9M), an EBITDA loss of $7.0 million and a net loss of $7.5 million, while cash ended the quarter at $6.7 million and working capital at $5.9 million. Management is shifting from preparation to execution at Hanford: a permit renewal expanded Perma-Fix Northwest capacity, ETF shipments began in mid‑April that management says can support >$4 million per quarter, an EMF shipment is expected in late June, and the company is pursuing a potential ~$4 billion grouting opportunity with a goal of reaching 3–4.2M gallons of capacity within 18 months if awarded. Outside Hanford, momentum includes a ~$24 million Lawrence Livermore task order, resumed PFAS work and new treatment unit deployment, a mining-sorting contract and a possible Navy USS Enterprise award, and management expects Q2 to be an inflection point as services and Hanford receipts ramp. Interested in Perma-Fix Environmental Services, Inc.? Here are five stocks we like better. Unusually High Volume Points to Upside in These Stocks Perma-Fix Environmental Services (NASDAQ:PESI) reported lower revenue and wider losses in its fiscal first quarter of 2026, a period CEO Mark Duff described as “transitional” as the company prepared facilities and personnel for higher expected activity beginning in the second quarter. “While our financial results were weak, this was not unexpected,” Duff said, citing seasonal softness, lower waste receipts, the timing of revenue milestones, and steps taken to increase operational readiness. Management emphasized that the company used the quarter to work down existing waste inventories—particularly at its Perma-Fix Northwest facility—while completing treatment of “several lower-margin waste streams” to improve future mix and capacity availability ahead of anticipated Hanford-related volumes. → 3 Emerging Markets ETFs to Maximize Exposure to High-Potential Countries Chief Financial Officer Ben Naccarato said first-quarter revenue was $11.1 million, down from $13.9 million in the prior-year period. He attributed the $2.8 million year-over-year decline primarily to “lower volumes and timing of processing activity” as Perma-Fix worked through inventory and faced delays in reaching certain revenue milestones. By segment, Naccarato said: Treatment segment revenue declined about $1.3 million year-over-year due to lower volumes and a “less favorable waste mix,” which outweighed “modest pricing improvements.” Services segment revenue decreased about $1.5 million year-over-year as fewer large projects contributed compared to the prior year, partially offset by contributions from smaller projects. → The Real SpaceX Play: 5 Chip Stocks Powering the IPO Before It Launches Gross profit fell $3.5 million compared with the year-ago quarter, driven by lower revenue, higher variable costs in the treatment segment, and “higher fixed plant costs” tied to preparations for higher expected volumes. Naccarato added that project mix and lower services revenue also weighed on profitability. SG&A expenses rose to $4.3 million, up about $284,000 year-over-year, primarily due to higher labor, outside services, and marketing-related costs. EBITDA from continuing operations was a loss of $7.0 million versus a loss of $3.3 million in the first quarter of fiscal 2025. Net loss widened to $7.5 million, or $0.40 per share, compared to a $3.6 million loss, or $0.19 per share, a year earlier. → Tyson Foods' Total Returns: Tasty Treats for Income Investors? On the balance sheet, Naccarato said cash ended the quarter at $6.7 million and working capital was $5.9 million, both down year-over-year due to operating cash usage and capital spending. Cash used in operations was $3.6 million, while investing activities used about $964,000 (primarily capital spending and permitting-related intangible assets) and financing activities used about $227,000 (scheduled debt and lease payments). Treatment backlog ended the quarter at $12.2 million, up slightly from $11.9 million at year-end and up from $10.2 million in the first quarter of 2025. Duff said the “centerpiece” of Perma-Fix’s growth opportunity remains Hanford, where the Department of Energy cleanup mission is “one of the largest and most complex environmental remediation programs in the U.S.” He highlighted the December 2025 renewal of the Perma-Fix Northwest permit, which he said expands permitted liquid mixed waste processing capacity to about 1.2 million gallons annually and authorizes treatment of up to 175,000 tons of waste through macroencapsulation. Duff said the Perma-Fix Northwest facility began receiving ETF waste from Hanford in mid-April, which he believes “can support sustainable revenues of more than $4 million per quarter as the waste stream continues.” In the Q&A, Duff told Craig-Hallum analyst Aaron Spychalla that ETF shipments are “between $1 million-$1.5 million a month in revenue as expected,” and he anticipated the stream would continue “at least through Q3 and into Q4 at a minimum,” noting Hanford typically experiences an outage when temperatures get too cold. Regarding other Hanford-related streams, Duff said an EMF waste stream—he later identified as “Effluent Management Facility”—had been delayed by an extended regulatory comment period. He said DOE indicated Perma-Fix should expect the first EMF shipment in late June. During hot commissioning, he said, it would run at about $300,000 per month, with revenue increasing by roughly four times once in operational phases. Duff also discussed dry waste and TRU waste. He said the company was beginning to coordinate receipts for the dry waste stream and estimated it could be about $100,000 per month, though volumes and linearity were uncertain given stockpiling. For TRU waste, he said Perma-Fix is increasing capacity with a goal of doubling throughput by adding shifts and capacity, supported by additional training and personnel. Management repeatedly pointed to potential longer-term grouting opportunities at Hanford. Duff said there are “two grouting programs,” referencing west-side plans and east-side supplemental activity. On the west side, Duff described an RFP the company responded to as a “$4 billion contract” to grout about 50 million gallons over time, with bidders required to be ready to start receiving waste in January 2028. Duff said the company had proposed permit modifications and additional infrastructure to reach over 4 million gallons per year of capacity and said he hoped for an award announcement before the next earnings call in July. In response to questions from Wellington Shields analyst Howard Brous, Duff said that on the east side, “if we were able to secure 300,000 gal in the next 12 months, we’d be pretty excited about that,” adding it was a target rather than a DOE-provided number. For the west side, he said the design capacity of the extraction system is “right around 3 million gal a year,” and referenced public comments from DOE leadership about aiming to exceed that and potentially reach closer to 6 million gallons per year over time. Duff also detailed Perma-Fix’s internal timing expectations if it receives an award. He said the company has already begun working with the state on permit modifications and completed much of its design work for new grouting equipment. Assuming an award in July, Duff said Perma-Fix committed to DOE that it would have 3.0 million to 4.2 million gallons of capacity within 18 months, targeting October 2027 for 4.2 million gallons of liquid waste capacity. Beyond Hanford, Duff highlighted a two-year master task agreement awarded during the quarter by the Lawrence Livermore National Security site, valued at approximately $24 million, for demolition and disposal of a building at Lawrence Livermore National Laboratory. Duff said the project mobilized and began work in early April and that the services segment has also mobilized on smaller projects that could grow through the summer. On the Navy’s USS Enterprise decommissioning opportunity, Duff said the project was previously awarded to another bidder, later protested, and then reopened through a “final proposal revision” process with proposals resubmitted April 24. He said the Navy anticipated an award sometime in June. While he said he could not discuss procurement specifics, Duff noted the government estimate for the overall project was between $500 million and $800 million and said the RFP included small business goals he believed were “between 20% and 30%” of that amount. On PFAS, Duff said Perma-Fix completed a PFAS treatment project for Four Rivers Nuclear Partnership at the Paducah site, receiving about 1,500 gallons of PFAS-contaminated liquids and treating it using the company’s patent-pending Perma-FAS destruction technology. He said PFAS receipts slowed during the quarter but resumed in May, supported by “new wins at regional airports.” He also said the company is continuing installation of a Gen 2 unit at its EWOC facility in Oak Ridge, expected to add about 2,000 gallons per shift of treatment capacity, though construction experienced supply chain and fabrication delays. Duff also discussed a first contract in the mining industry using Perma-Fix’s sorting technology. He said the work would go into the field in June and described the system as segregating radioactive components from soil or debris to reduce waste volumes or concentrate source material, though he said the client was confidential. Looking ahead, Duff said the company has seen improvement in April, though he declined to provide monthly financial details. He reiterated that management expects a “significant improvement over Q1” and views the second quarter as an inflection point as Hanford-related receipts increase and services work ramps. Perma-Fix Environmental Services, Inc (NASDAQ: PESI) is a specialized provider of environmental and nuclear waste management solutions. The company offers a comprehensive suite of services, including treatment, recycling, processing, volume reduction and disposal of hazardous, radioactive and mixed wastes. Its capabilities span thermal, chemical and physical treatment technologies, supported by a network of licensed facilities designed to handle complex waste streams. Founded in 1994 and headquartered in Atlanta, Georgia, Perma-Fix has grown both organically and through strategic acquisitions. The article "Perma-Fix Environmental Services Q1 Earnings Call Highlights" was originally published by MarketBeat.