Environmental waste treatment and services provider Perma-Fix (NASDAQ: PESI) will be announcing earnings results this Tuesday before market hours. Here’s what investors should know.
Perma-Fix missed analysts’ revenue expectations last quarter, reporting revenues of $11.13 million, down 20.1% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.
Is Perma-Fix a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Perma-Fix’s revenue to decline 11.6% year on year, a reversal from the 4.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.
Looking at Perma-Fix’s peers in the waste management segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Clean Harbors delivered year-on-year revenue growth of 11.9%, beating analysts’ expectations by 6.1%, and Casella Waste Systems reported revenues up 16.9%, topping estimates by 3.5%. Clean Harbors traded up 4.4% following the results while Casella Waste Systems was down 1.2%.
Read our full analysis of Clean Harbors’s results here and Casella Waste Systems’s results here.
There has been positive sentiment among investors in the waste management segment, with share prices up 4.2% on average over the last month. Perma-Fix is up 26.8% during the same time and is heading into earnings with an average analyst price target of $25 (compared to the current share price of $18.07).
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