- Perma-Fix Environmental Services Inc (NASDAQ:PESI) and Westinghouse Electric Company signed a term sheet at the 2022 Waste Management Symposia, indicating plans to develop a state-of-the-art advanced materials treatment facility in the U.K. Financial terms were not disclosed.
- The facility aims at expanding waste treatment capabilities for the European nuclear market. Westinghouse will own 55% of the initiative, and Perma-Fix will own the balance.
- The new facility will incorporate the Perma-Fix Bulk Processing Unit (BPU), a vessel designed to treat radioactive materials. The BPU accepts various material types while reducing waste volume by 30 to 100 times.
- Price Action: PESI shares are trading lower by 2.36% at $5.80 on the last check Monday.
Second Quarter Earnings Season: Consumer Discretionary Sector Holds Up Despite Recession Concerns
As we are in the heart of the earnings season, 56% of companies in the S&P 500 have reported second quarter earnings, according to FactSet.
Companies are so far reporting earnings that are 3.1% above estimates, which is below the five-year average of 8.8% above estimates.
