CORRECTED-Radioactive waste firm Perma-Fix Q3 revenue up on higher waste volumes

Perma-Fix reported a 45% year-over-year increase in Q3 revenue, driven by higher waste volumes in its Treatment Segment, which saw gross margins rise to 17.3%. The company improved its net loss to $1.8 million from $9.0 million last year. Looking ahead, Perma-Fix anticipates continued growth through 2026, with initial waste receipts expected from DFLAW in late 2025 or early 2026. The stock has a "buy" rating, with a 12-month price target of $18.00, reflecting a potential upside of 28.5%.

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Overview

Perma-Fix Q3 revenue rose 45% yr/yr in Treatment Segment, driven by higher waste volumes
Treatment Segment’s gross margin improved to 17.3% from 4.5% in prior year
Net loss for Q3 was $1.8 mln, improved from $9.0 mln loss last year

Outlook

Perma-Fix expects continued improvement through 2026 with increased waste volumes
Company anticipates initial waste receipts from DFLAW in late Q4 2025 or early 2026
Second-generation PFAS unit set for commissioning in Q1 2026

Result Drivers

TREATMENT SEGMENT GROWTH - Revenue increased due to higher waste volumes and international shipments, leading to improved gross margins
HANFORD FACILITY - DOE’s DFLAW facility began hot commissioning, expected to increase waste receipts later in Q4 or early 2026
PFAS TECHNOLOGY ADVANCEMENT - PFAS destruction technology progressing, with second-generation unit to triple capacity by Q1 2026

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 17.30%

Treatmen

Segment

Gross

Margin

Q3 -$1.50

EBITDA mln

Q3 Gross $2.60

Profit 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 $18.00, about 28.5% above its November 7 closing price of $12.87
The stock recently traded at 69 times the next 12-month earnings vs. a P/E of 52 three months ago

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(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.)