Perma-Fix Q2 Loss Widens, But Hanford Subcontract and DFLAW Receipts Mark Inflection
PESI has more than doubled off its 52-week low of $8.02 on elevated volume (4.4× avg).
Summary
Perma-Fix reported a wider Q2 loss but disclosed a $4.4B Hanford subcontract award and DFLAW waste receipts, marking a potential inflection point.
Key Events · Earnings and Guidance · PESI
-
Q2 Net Loss Widens
Net loss of $6.2M vs $2.7M in Q2 2025; revenue fell 11.7% to $12.9M; gross loss of $2.5M vs gross profit of $1.5M.
-
Hanford Master IDIQ Subcontract Awarded
Awarded by H2C for treatment and disposal of pretreated liquid mixed low-level waste; maximum cumulative value of $4.4B and 50M gallons shared among three awardees; task orders may be issued from Jan 2027 to Dec 2041.
-
DFLAW Waste Receipts Commence
PFNW began receiving liquid effluent wastes from the DFLAW facility in early July 2026, a major operational milestone.
-
Treatment Backlog Jumps 28.5%
Backlog increased to $15.7M at June 30, 2026, from $12.2M at March 31, 2026, driven by Hanford-related waste receipts.
Analysis · PESI · Energy & Transportation
Perma-Fix reported a Q2 net loss of $6.2M on revenue of $12.9M, with gross margin turning negative due to lower waste volumes and higher fixed costs. However, the company disclosed two major subsequent events: a Master IDIQ Subcontract from Hanford Tank Waste Operations & Closure with a maximum value of $4.4 billion (shared among three awardees), and the commencement of DFLAW waste receipts in early July. The credit facility maturity was also extended to 2030. Management continues to express substantial doubt about going concern, but the Hanford award and DFLAW ramp provide a potential path to profitability. The stock trades near its 52-week high, reflecting market optimism about the Hanford opportunity.
At the time of this filing, PESI was trading at $20.35 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $412M. The 52-week trading range was $8.02 to $21.32. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.