Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q4 2020 Results Earnings Conference Call March 29, 2021 10:00 AM ET Company Participants Natalie Redman - Laboratory Manager at the Freshwater Institute Mark Duff - CEO Ben Naccarato - CFO Dr. Lou Centofanti - Executive Vice President of Strategic Initiatives Conference Call Participants Howard Brous - Wellington Shields Operator Good day everyone and welcome to today’s Perma-Fix Fourth Quarter 2020 Conference Call. At this time all participants are in a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File No. 1-11596 PERMA-FIX ENVIRONMENTAL SERVICES, INC. (Exact name of registrant as specified in its charter) | Delaware | 58-1954497 | | --- ...

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q3 2020 Earnings Conference Call November 5, 2020 11:00 AM ET Company Participants David Waldman - IR Mark Duff - CEO Ben Naccarato - CFO Dr. Lou Centofanti - Executive Vice President of Strategic Initiatives Conference Call Participants Howard Brous - Wellington Shields Operator Good day ladies and gentlemen and welcome to Perma-Fix Environmental Third Quarter 2020 Business Update Call. [Operator Instructions] As a reminder, this conference is being reco ...

Financial Data and Key Metrics Changes - The company achieved profitability in Q2 2020, with revenue increasing by 29% year-over-year to $22 million [9][13] - Adjusted EBITDA was approximately $847,000, down from $1 million in the same period last year [14][30] - Net income attributable to common shareholders was $204,000, consistent with $0.02 per share, compared to $289,000 in the prior year [14][30] Business Line Data and Key Metrics Changes - Services Segment revenue increased by 102% to $14.2 million, driven by improved project activity [13][22] - Treatment Segment revenue decreased by 22.3% to $7.8 million due to COVID-related impacts on waste receipts [13][23] Market Data and Key Metrics Changes - The backlog for the Services Segment was approximately $48 million, indicating strong future revenue potential [11][32] - The Treatment Segment backlog was approximately $6.4 million, reflecting a decrease due to slower waste receipts [32][62] Company Strategy and Development Direction - The company is focusing on expanding its nuclear services and enhancing its offerings to the commercial sector [15][19] - New initiatives include the deployment of the Perma-Sort system, which has shown promising results in processing radioactive soils [21][69] - The company aims to achieve a 10% EBITDA margin, although current margins may be lower due to the high percentage of revenue from the Services Segment [56] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of waste receipts and anticipated increases in revenue in Q3 and Q4 [19][80] - The company has successfully navigated the challenges posed by COVID-19, maintaining operations and securing a PPP loan to support its workforce [18][25] Other Important Information - The company has only reported one COVID-19 case among its employees, highlighting effective safety measures [16] - The company is awaiting final permit modifications for the GeoMelt business, which could significantly increase revenue once operational [74] Q&A Session Summary Question: Update on EPA contract with Jacobs - Management noted that an announcement regarding the contract is expected soon [36][38] Question: Status of Navy contracts - Management confirmed ongoing work on several Navy contracts, with positive progress [39] Question: Revenue recognition and backlog - Management explained that revenue is recognized in phases, and a backlog exists despite current delays [47][62] Question: Treatment Segment expansion opportunities - Management highlighted the potential for increased revenue from the GML and commercial sector, aiming for $10 million to $15 million annually [88][89] Question: Impact of PPP loan on financials - Management indicated that without the PPP loan, significant labor-related decisions would have been necessary, potentially impacting productivity [64] Question: Future opportunities with DOE funding - Management anticipates increased opportunities as DOE funding is expected to carry over into the next fiscal year [80]

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q1 2020 Earnings Conference Call May 12, 2020 11:00 AM ET Company Participants David Waldman - IR Mark Duff - President & CEO Ben Naccarato - EVP & CFO Lou Centofanti - EVP, Strategic Initiatives Conference Call Participants Howard Brous - Wellington Shields Sam Rebotsky - SER Asset Management Stephen Levenson - Big Rock Research Avram Fisher - Long Cast Advisers Operator Good day, ladies and gentlemen, and welcome to your Perma-Fix First Quarter 2020 Con ...

Financial Data and Key Metrics Changes - Revenue for Q3 2019 increased by 88% to $22.5 million compared to the prior year [9] - Adjusted EBITDA for Q3 2019 was $2.4 million, up from $510,000 in the same period last year [10][24] - Net income attributable to common stockholders for Q3 2019 was $1.8 million or $0.15 per share, compared to $221,000 or $0.02 per share in the prior year [10][23] Business Line Data and Key Metrics Changes - Services segment revenue increased by 332% to $12.4 million, driven by increased project work [9][18] - Treatment segment revenue increased by 10.7% to $10.1 million, primarily due to higher average pricing [18] Market Data and Key Metrics Changes - The backlog at the end of the quarter was $10.6 million, down from $11.1 million at year-end but up from $9.4 million at September 2018 [27] - The company anticipates a strong financial outlook for the remainder of 2019 and into 2020 due to successful contract wins [10][11] Company Strategy and Development Direction - The company is focused on expanding its market base in the treatment segment through aggressive marketing initiatives [14] - New technologies are being developed to enhance service offerings, including a soil-sorting system and comprehensive equipment dismantlement capabilities [12][13] - The company aims to achieve an annualized revenue of $100 million by the end of 2020 [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory and operational efficiencies achieved over the past few years [16][17] - The company is well-positioned for future growth with a strong client reference base and numerous bidding opportunities [11][12] Other Important Information - The company closed its M&EC facility, resulting in $5 million in cash and a reduction in fixed costs [14][30] - Cash on the balance sheet increased to $2.4 million from $810,000 at year-end [25] Q&A Session Summary Question: Future revenue split between treatment and services - Management expects a 50-50 split for the current year, shifting to 40% treatment and 60% services in 2020, with potential for 70% services in subsequent years [38][39] Question: EBITDA to free cash flow conversion - Management indicated that capital spending will increase, impacting free cash flow, but expects strong EBITDA moving forward [41][42] Question: Unbilled receivables and revenue conversion - Most unbilled receivables are expected to convert to revenue within 15 days due to the nature of service contracts [44] Question: Industry trends and company positioning - Management noted that changes in large firms like AECOM and Fluor may not significantly impact the company, as it operates in a niche market [59][61] Question: Cost of rebuilding treatment plants - Estimated cost to rebuild the three plants is around $40 million to $50 million, excluding intangibles [66][67]

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q2 2019 Earnings Conference Call August 8, 2019 11:00 AM ET Company Participants David Waldman - Member of Supervisory Board Mark Duff - President and Chief Executive Officer Ben Naccarato - Chief Financial Officer Conference Call Participants Bill Nasgovitz - Heartland Advisors Steve Levenson - Big Rock Research Todd Helman - Huntington Bank Operator Good day, ladies and gentlemen, and welcome to Perma-Fix Environmental Second Quarter 2019 Business Updat ...

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q1 2019 Earnings Conference Call May 9, 2019 11:00 AM ET Company Participants David Waldman - Member of Supervisory Board Mark Duff - President & CEO Benio Naccarato - CFO, CAO, VP & Secretary Louis Centofanti - EVP, Strategic Initiatives & Executive Director Conference Call Participants Stephen Levenson - Big Rock Research Operator Greeting and welcome to the Perma-Fix Environmental First Quarter 2019 Business Update Conference Call. [Operator Instructio ...

Financial Data and Key Metrics Changes - Total revenue from continuing operations for Q4 2018 was $11.7 million, a decrease of $851,000 or 6.8% compared to Q4 2017's $12.6 million [23] - For the year ended 2018, revenue was $49.5 million compared to $49.8 million in 2017, indicating a slight decline [24] - Gross profit for Q4 2018 was $1.3 million, down from $1.8 million in Q4 2017, primarily due to lower revenue in the Services Segment and additional costs related to the M&EC facility [27] - The net loss from continuing operations for Q4 2018 was $2.4 million compared to a net income of $2.6 million in the prior year [31] - Adjusted EBITDA from continuing operations for Q4 2018 was a negative $167,000 compared to $329,000 in the previous year [32] Business Segment Data and Key Metrics Changes - Treatment Segment revenue increased by $333,000 in Q4 2018 due to higher receipt and production volumes [23] - Service Segment revenue decreased by $1.2 million due to lower project revenue, impacted by the completion of certain phases of ongoing contracts [24] - For the year, Treatment Segment revenue decreased by $1.5 million due to lower processing and disposal revenue [25] - The opening waste backlog increased to $11.1 million at the end of 2018, up from $7.7 million at the end of 2017 [25][34] Market Data and Key Metrics Changes - The company is expanding its hazardous waste processing markets, particularly in the Southeast U.S. [15] - The Department of Energy's new procurement strategy emphasizes accelerated project schedules and waste management metrics, aligning with the company's offerings [20][21] Company Strategy and Development Direction - The company aims to diversify its revenue streams and has recently been awarded several new projects worth approximately $17 million for 2019 [11] - The GeoMelt vitrification unit has commenced commercial operations, allowing the company to address a large inventory of radioactive waste [13] - The company is actively bidding on larger projects within its Services Segment and expects to provide updates as proposals develop [22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged setbacks in Q4 2018 due to an unplanned outage and delays related to the M&EC facility closure, but expressed optimism about the strong backlog and sales pipeline [9][10] - The company entered 2019 with a treatment backlog of approximately $11.1 million, which is expected to support performance throughout the year [22] - Management is encouraged by the Department of Energy's new approach to cleanup, which aligns with the company's capabilities [20] Other Important Information - The company completed the cleanup phase associated with the M&EC facility and is approximately 80% complete in the final verification process [19] - The cash balance dropped by $253,000 compared to the previous year, and current liabilities increased primarily due to accounts payable related to the M&EC closure [33][34] Q&A Session Summary Question: Was there a $2.6 million improvement for the quarter? - Management clarified that without the M&EC-related expenses, there would have been an improvement of $2.6 million [42] Question: What was the impact of the two-week outage? - The outage resulted in an overall revenue impact of about $800,000 due to halted waste receipts and idle production activities [43] Question: What is the funded backlog after the new contracts? - The funded backlog is estimated to be in the mid-20s million, up from about $7 million before the new contracts [46][47] Question: What is the potential in the sodium and H2O markets? - The sodium market is estimated to be around $100 million over the next 10 years, while the H2O market could yield $5 million to $6 million annually [49][51] Question: What is the status of the Phase 2 work for the Test Bed Initiative? - The project is progressing, with permits received for the mixer, and the schedule for the 2,000 gallons is expected to be completed this fall [80][82] Question: How is the permitting process with the Washington Department of Ecology progressing? - The public comment period has concluded positively, and the state has been supportive, indicating a low risk for the permit renewal [118]