- Perma-Fix Environmental Services, Inc (NASDAQ:PESI) shares are down Friday morning following the disclosure about the loss of the U.S. Department of Energy’s ITDC contract bid.
- PESI was advised by the Office of Environmental Management that its team was not awarded the Integrated Tank Disposition Contract (ITDC).
- PESI has secured eight new contracts in recent months. The contracts total ~$15 million of revenue that is expected to be recognized in 2023.
- These contracts increased PESI’s existing backlog in both the Services and Treatment Segments.
- The contracts also include option phases with a potential value of more than $14 million that might stretch up to 2024.
- Price Action: PESI shares are trading lower by 15.35% at $8.27 on the last check Friday.
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