PESI

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

Perma-Fix

Reports Third Quarter 2026 Results, with Sequential Growth of 39% in Revenue and 25% in Treatment Backlog from Second Quarter 2026

Treatment backlog of $19.6 million, up approximately 65% from year-end 2025

Perma-Fix

Northwest now receiving both liquid effluent and dry waste from the Direct-Feed Low-Activity Waste (DFLAW) facility

Services Segment revenue up 46% year over year, with gross margin

improving to 12.2% from 6.7% and positive segment operating income

ATLANTA

– November 5, 2026 – Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the “Company”) today announced financial results and provided a business update for the third quarter ended September 30, 2026.

Mark Duff, President and Chief Executive Officer of Perma-Fix, commented, “Our third quarter results reflect meaningful improvement over the first half of the year. Revenue increased 39% sequentially from second quarter of 2026, consolidated gross profit returned to positive territory and our net loss decreased from the second quarter. Results were held back by customer-directed changes in treatment protocols on a Hanford-related waste stream, which required performance testing and final approvals that were not provided until late August. Processing did not reach full operations until September, pushing revenue out of the quarter. We also took temporary downtime during the quarter to upgrade the thermal treatment systems at our Florida and Kingston facilities. Those upgrades were completed in September and are now supporting the large backlog of waste receipts we built over the summer. Treatment backlog grew approximately 25% during the quarter to $19.6 million, and the price increases we began implementing in August are also starting to be reflected in new backlog.

“At Hanford, Perma-Fix Northwest continues to receive liquid effluent from the U.S. Department of Energy’s (DOE) DFLAW facility and has begun receiving DFLAW dry waste, and we expect both to increase as DFLAW ramps up to higher production levels. DOE’s 2023 amended Record of Decision identified Perma-Fix Northwest to treat effluent waste from DFLAW operations, on an interim basis expected to last approximately 10 years. Beyond DFLAW, the Company is one of three contractors awarded a Master Indefinite Delivery/Indefinite Quantity (IDIQ) Subcontract by Hanford Tank Waste Operations & Closure, LLC (“H2C”), DOE’s prime contractor for tank waste operations and closure at the Hanford Site, for the treatment of certain Hanford waste streams. The Master IDIQ contemplates potential treatment of up to approximately 50 million gallons of waste through 2041, with an aggregate procurement ceiling of approximately $4.4 billion. These amounts represent overall procurement ceilings shared among the three IDIQ contract holders and do not represent amounts awarded or committed to the Company. The Company will compete for individual task orders issued under the Master IDIQ, and, while there can be no assurance as to the number, size or timing of task orders that may be awarded to the Company, we believe that our investments have positioned us to support increasing Hanford-related activity and to compete for task orders under DOE’s tank waste program. We are advancing facility upgrades to expand our grouting capacity to support that work. Among the three Master IDIQ Subcontract holders, we are the only one with a facility located adjacent to the Hanford Site, and waste treated under the subcontract would leave Perma-Fix Northwest as a stabilized, grouted solid shipped out of state by rail.

“Our Services Segment continued to grow, with revenue up 46% year over year, gross margin improving to 12.2% and the segment generating operating income. Our PFAS (Per- and polyfluoroalkyl) destruction business saw increased sales and receipts compared with the first half of the year. Our Gen 2.0 PFAS destruction unit is expected to begin commissioning in the fourth quarter of 2026, with operations anticipated to commence during the first half of 2027. The State of Florida enacted legislation this year phasing out PFAS-containing firefighting foam, subject to specified exceptions, which we expect to support continued demand for PFAS destruction. With a growing backlog, new pricing taking effect and DFLAW volumes increasing, we believe Perma-Fix is positioned for improved results in the coming year.”

Financial Results

Revenue for the third quarter of 2026 was approximately $17.9 million, compared to $17.5 million for the same period in 2025. The increase was attributable entirely to higher revenue within the Services Segment, which increased to approximately $6.3 million for the three months ended September 30, 2026, from approximately $4.4 million for the corresponding period of 2025, primarily due to increased project activity, including projects awarded since the beginning of 2026. Revenue within the Treatment Segment decreased to approximately $11.6

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EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

Perma-Fix

Reports First Quarter 2026 Results and Strategic Outlook

Hanford waste receipts, Nuclear Services project mobilization,

PFAS

technology expansion, and long-term grouting opportunities

support improved outlook for 2026

ATLANTA

– May 6, 2026 – Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the “Company”) today announced financial results and provided a business update for the first quarter ended March 31, 2026.

“As expected, the first quarter represented a transitional period as we deliberately positioned the Company for what we believe will be a significant step-up in activity beginning in the second quarter,” commented Mark Duff, President and Chief Executive Officer of Perma-Fix. “During the quarter, our results were impacted by seasonal softness, which includes lower waste receipts, the timing of achieving revenue milestones, the deliberate processing and reduction of existing waste inventories to maximize capacity ahead of anticipated Hanford-related activity, and investments in personnel, training, and facility readiness. While these factors impacted the performance of the Company for the first quarter, we believe the quarter also marked the final stages of years of preparation to support a much larger opportunity set across Hanford, Nuclear Services, and PFAS (per- and polyfluoroalkyl substance) destruction.

We believe that the transition we have been preparing for is beginning to materialize across our operations. Our Perma-Fix Northwest (PFNW) facility has begun receiving Hanford ETF (Effluent Treatment Facility) waste, and we continue to work closely with U.S Department (DOE) contractors on the anticipated start of additional Direct-Feed Low-Activity Waste (DFLAW)-related waste streams. Moreover, DOE leadership appears to be focused on providing Hanford waste tank retrieval, supplemental to DFLAW, through grouting waste using available commercial capacity. The PFNW facility provides immediate local capacity we believe would meet the needs of DOE for its objectives over the next several years. At the same time, our Services Segment has mobilized under the recently awarded Lawrence Livermore National Laboratory demolition and disposal agreement, which has a reported value of approximately $24 million over a two year period, and our PFAS platform continues to advance through completed commercial and government-related treatment work, new project wins, and installation of our Gen 2.0 unit, which is designed to expand treatment capacity.

Collectively, we believe the expanded permit at our Northwest facility, anticipated growth in Hanford-related waste receipts, the long-term grouting opportunity, renewed momentum in Nuclear Services, and the increasing need for permanent PFAS destruction solutions all reflect years of investment, technical development, and operational preparation. The expanded permit at our Northwest facility approximately triples the facility’s permitted liquid mixed waste processing capacity and authorizes the processing of waste annually through macroencapsulation. In our view, Perma-Fix is now positioned to begin converting this multi-year investment cycle into improved operating performance. Although the timing of government programs and customer shipments may continue to create quarterly variability, we expect Perma-Fix to deliver improved performance beginning in the second quarter, through the balance of 2026, and over the longer term as these opportunities continue to scale.”

Financial Results

Revenue was $11.1 million for the first quarter of 2026, compared to $13.9 million for the corresponding period in 2025. Treatment Segment revenue decreased by approximately $1.3 million to $7.9 million in the first quarter of 2026, from $9.2 million in the same period of 2025. This decline was primarily due to lower waste volumes and a less favorable average waste pricing mix. Services Segment revenue decreased by approximately $1.5 million to $3.2 million in the first quarter of 2026, compared to $4.7 million in the first quarter of 2025. The decline was due in part to reduced field activity, driven by seasonal delays, including winter weather and typical post-holiday slowdowns. Additionally, Services Segment revenues are project-based, and therefore subject to variability in project scope, duration, and timing of completion.

Overall gross loss for the first quarter of 2026 was $2.9 million, compared to gross profit of $657,000 for the first quarter of 2025. The decrease in Treatment Segment gross profit of approximately $3.1 million, along with the decline in gross margin to (36.0)% from 2.7%, was primarily attributed to lower revenue discussed above. Treatment Segment gross loss and margin were also impacted by an increase in fixed costs as the Company continues to invest in infrastructure and workforce in anticipation of increased waste volumes, including those under the DFLAW program at Hanford. Services Segment