PERMA FIX ENVIRONMENTAL SERVICES INC Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>PERMA FIX ENVIRONMENTAL SERVICES INC filed its Q1 2024 10-Q report, detailing financial performance for the period ending March 31, 2024.</b>

AI Summary

PERMA FIX ENVIRONMENTAL SERVICES INC (PESI) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. PERMA FIX ENVIRONMENTAL SERVICES INC filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. PERMA FIX ENVIRONMENTAL SERVICES INC is in the Hazardous Waste Management industry. The company's principal executive offices are located in Atlanta, GA.

Why It Matters

For investors and stakeholders tracking PERMA FIX ENVIRONMENTAL SERVICES INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, crucial for assessing the company's performance and making informed investment decisions. Understanding the company's financial health and operational status through this report is key for evaluating its position within the hazardous waste management sector.

Risk Assessment

Risk Level: low — PERMA FIX ENVIRONMENTAL SERVICES INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial or operational disclosures that would elevate the risk profile.

Analyst Insight

Monitor future filings for detailed financial results and operational updates to assess PERMA FIX ENVIRONMENTAL SERVICES INC's performance in the hazardous waste management sector.

Key Numbers

• 2024-03-31 — Reporting Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-09 — Filing Date (FILED AS OF DATE)
• 1231 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• PERMA FIX ENVIRONMENTAL SERVICES INC (company) — FILER
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-09 (date) — FILED AS OF DATE
• Atlanta, GA (location) — BUSINESS ADDRESS
• 7705879898 (phone) — BUSINESS PHONE
• 4955 (sic_code) — STANDARD INDUSTRIAL CLASSIFICATION
• HAZARDOUS WASTE MANAGEMENT (industry) — STANDARD INDUSTRIAL CLASSIFICATION

FAQ

Industry Context

PERMA FIX ENVIRONMENTAL SERVICES INC operates within the Hazardous Waste Management industry, a sector focused on the safe handling, treatment, and disposal of hazardous materials.

Regulatory Implications

The company is subject to various environmental regulations governing hazardous waste management, which are typically overseen by federal and state agencies.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze revenue streams and cost structures to understand profitability drivers.
3. Assess any disclosed risks or uncertainties that could impact future performance.

Year-Over-Year Comparison

This filing represents the first quarterly report for fiscal year 2024, providing an update from the previous fiscal year-end filings.

Filing Documents

• form10-q.htm (10-Q) — 1127KB
• ex4-1.htm (EX-4.1) — 34KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 20KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-018390.txt (&nbsp;) — 6393KB
• pesi-20240331.xsd (EX-101.SCH) — 47KB
• pesi-20240331_cal.xml (EX-101.CAL) — 75KB
• pesi-20240331_def.xml (EX-101.DEF) — 170KB
• pesi-20240331_lab.xml (EX-101.LAB) — 401KB
• pesi-20240331_pre.xml (EX-101.PRE) — 310KB
• form10-q_htm.xml (XML) — 1006KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 30 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 6. Exhibits 31 PERMA-FIX ENVIRONMENTAL SERVICES, INC. Condensed Consolidated Balance Sheets March 31, 2024 (Amounts in Thousands, Except for Share and Per Share Amounts) (Unaudited) December 31, 2023 ASSETS Current assets: Cash $ 2,374 $ 7,500 Accounts receivable, net of allowance for credit losses of $ 19 and $ 30 , respectively 8,701 9,722 Unbilled receivables 8,797 8,432 Inventories 1,071 1,155 Prepaid and other assets 3,955 3,738 Current assets related to discontinued operations 13 13 Total current assets 24,911 30,560 Property and equipment: Buildings and land 24,319 24,311 Equipment 22,930 22,809 Vehicles 434 434 Leasehold improvements 8 8 Office furniture and equipment 1,140 1,130 Construction-in-progress 1,158 1,010 Total property and equipment 49,989 49,702 Less accumulated depreciation ( 31,099 ) ( 30,693 ) Net property and equipment 18,890 19,009 Property and equipment related to discontinued operations 81 81 Operating lease right-of-use assets 1,885 1,990 Intangibles and other long term assets: Permits 9,973 9,905 Other intangible assets - net 442 461 Finite risk sinking fund (restricted cash) 12,222 12,074 Deferred tax assets 5,284 4,299 Other assets 351 370 Total assets $ 74,039 $ 78,749 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 PERMA-FIX ENVIRONMENTAL SERVICES, INC. Condensed Consolidated Balance Sheets, Continued March 31, 2024 (Amounts in Thousands, Except for Share and per Share Amounts) (Unaudited) December 31, 2023 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 7,979 $ 9,582 Accrued expenses 6,238 6,560 Disposal/transportation accrual 1,515 1,198 Deferred revenue 7,295 6,815 Accrued closure costs - current 85 79 Current portion of long-term debt 673 773 Current portion of operat

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View this 10-Q filing on SEC EDGAR