Aankondiging • Mar 30
ENGlobal Corporation announced delayed annual 10-K filing On 03/28/2025, ENGlobal Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. Aankondiging • Dec 10
ENGlobal Corporation(OTCPK:ENGC) dropped from S&P TMI Index ENGlobal Corporation(OTCPK:ENGC) dropped from S&P TMI Index Aankondiging • Dec 06
ENGlobal Corporation(OTCPK:ENGC) dropped from NASDAQ Composite Index ENGlobal Corporation has been dropped from the Nasdaq Composite Index. Reported Earnings • Nov 14
Third quarter 2024 earnings released: US$0.097 loss per share (vs US$0.14 loss in 3Q 2023) Third quarter 2024 results: US$0.097 loss per share (improved from US$0.14 loss in 3Q 2023). Revenue: US$5.68m (down 40% from 3Q 2023). Net loss: US$500.0k (loss narrowed 31% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 57% per year, which means it is performing significantly worse than earnings. Aankondiging • Nov 05
ENGlobal Corporation, Annual General Meeting, Dec 30, 2024 ENGlobal Corporation, Annual General Meeting, Dec 30, 2024. Reported Earnings • Aug 09
Second quarter 2024 earnings released: US$0.23 loss per share (vs US$0.87 loss in 2Q 2023) Second quarter 2024 results: US$0.23 loss per share (improved from US$0.87 loss in 2Q 2023). Revenue: US$6.14m (down 37% from 2Q 2023). Net loss: US$1.21m (loss narrowed 72% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 55% per year, which means it is performing significantly worse than earnings. New Risk • Aug 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$1.5m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Negative equity (-US$2.8m). Earnings have declined by 46% per year over the past 5 years. Market cap is less than US$10m (US$8.15m market cap). Minor Risk Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Reported Earnings • May 09
First quarter 2024 earnings released: US$0.27 loss per share (vs US$1.33 loss in 1Q 2023) First quarter 2024 results: US$0.27 loss per share (improved from US$1.33 loss in 1Q 2023). Revenue: US$6.53m (down 51% from 1Q 2023). Net loss: US$1.40m (loss narrowed 78% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has fallen by 54% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 01
Full year 2023 earnings released: US$3.03 loss per share (vs US$4.16 loss in FY 2022) Full year 2023 results: US$3.03 loss per share (improved from US$4.16 loss in FY 2022). Revenue: US$39.0m (down 2.9% from FY 2022). Net loss: US$15.2m (loss narrowed 18% from FY 2022). Over the last 3 years on average, the company's earnings growth rate has exceeded its share price growth rate by 3 percentage points per year. New Risk • Feb 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$10m free cash flow). Earnings have declined by 48% per year over the past 5 years. Market cap is less than US$10m (US$8.97m market cap). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Aankondiging • Dec 20
ENGlobal Regains Compliance with Nasdaq Minimum Bid Price Requirement ENGlobal Corporation (the ‘Company’) announced that the Company received notice from The Nasdaq Stock Market, LLC (‘Nasdaq’), dated December 15, 2023, informing the Company that it has regained compliance with the minimum bid price requirement as set forth under Nasdaq Listing Rule 5550(a)(2) for continued listing on Nasdaq. As previously disclosed, on December 21, 2022, Nasdaq notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Nasdaq listing rules. As previously disclosed on June 28, 2023, Nasdaq notified the Company that it had until December 18, 2023, to regain compliance by maintaining a minimum closing bid price of $1.00 or more for a minimum of 10 consecutive trading days. The Nasdaq notice states that Nasdaq has determined that for the 10 consecutive business days, from December 1, 2023 to December 14, 2023, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, Nasdaq has confirmed that the Company has regained compliance with Listing Rule 5550(a)(2) and the matter is now closed. Aankondiging • Dec 01
ENGlobal Receives Written Notice from the Nasdaq Regarding No Longer in Compliance with Nasdaq Listing Rule 5550(b)(1) ENGlobal Corporation announced that it will effect a one-for-eight reverse split of its common stock, effective at 11:59 pm, Eastern Standard Time, on November 30, 2023 (the “Effective Time”). The reverse stock split is intended to increase the per share trading price of the Company's common stock to satisfy the minimum bid price requirement for continued listing on The Nasdaq Capital Market. As a result of the reverse stock split, every eight shares of the Company's common stock issued and outstanding at the Effective Time will be consolidated into one issued and outstanding share of common stock, with no change in the par value per share of $0.001. Any fractional shares that would otherwise be issued as a result of the reverse stock split will be rounded up to the nearest whole share. The Company’s number of authorized shares of common stock will remain at 75,000,000 shares. The Company also announced that it received a notification letter dated November 27, 2023 (the "Deficiency Letter") from the Listing Qualifications Department of The Nasdaq Stock Market Inc. ("Nasdaq") notifying the Company that it is not currently in compliance with Nasdaq Listing Rule 5550(b)(1) for continued listing due to its failure to maintain a minimum of $2.5 million in stockholders' equity. In the Company's Form 10-Q for the period ended September 30, 2023, the Company reported stockholders' equity of approximately $2.1 million. Nasdaq also determined that the Company does not meet the alternatives of market value of listed securities or net income from continuing operations for continued listing. The notice has no immediate effect on the listing of the Company’s common stock. The Company may regain compliance with the minimum stockholders’ equity requirement by submitting a plan to regain compliance (a “Compliance Plan”) to Nasdaq by January 8, 2024. If the Compliance Plan is accepted by Nasdaq, the Company may be granted a compliance period of up to 180 calendar days from the date of the Deficiency Letter to evidence compliance. If the Compliance Plan is not accepted by Nasdaq, the Company will have an opportunity to appeal that decision to a Nasdaq Hearings Panel. During the pendency of the hearing process, the Company’s common stock would continue to be listed on Nasdaq. The Company's management is considering various options to regain compliance with the minimum stockholders’ equity requirement and maintain the Company’s listing on The Nasdaq Capital Market. The Company intends to submit the Compliance Plan as soon as practicable. There can be no assurance that the Compliance Plan will be accepted or that if it is, the Company will be able to regain compliance with the minimum stockholder’s equity requirement or will otherwise be in compliance with other Nasdaq listing criteria. New Risk • Nov 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.84m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$10m free cash flow). Earnings have declined by 48% per year over the past 5 years. Market cap is less than US$10m (US$9.84m market cap). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). Reported Earnings • Nov 16
Third quarter 2023 earnings released: US$0.018 loss per share (vs US$0.065 loss in 3Q 2022) Third quarter 2023 results: US$0.018 loss per share (improved from US$0.065 loss in 3Q 2022). Revenue: US$9.45m (down 28% from 3Q 2022). Net loss: US$721.0k (loss narrowed 69% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 11
Second quarter 2023 earnings released: US$0.11 loss per share (vs US$0.043 loss in 2Q 2022) Second quarter 2023 results: US$0.11 loss per share (further deteriorated from US$0.043 loss in 2Q 2022). Revenue: US$9.74m (down 14% from 2Q 2022). Net loss: US$4.34m (loss widened 183% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Aankondiging • Jul 18
Englobal Corporation Appoints William A. Coskey as Chief Executive Officer On July 12, 2023, the Board of Directors of ENGlobal Corporation appointed William A. Coskey as the Company’s Chief Executive Officer. Mr. Coskey also serves as the Company’s Chairman of the Board. Aankondiging • Jun 29
ENGlobal Receives 180-Day Extension from Nasdaq to Regain Compliance with Minimum Bid Price Rule ENGlobal Corporation announced it had received notification from the NASDAQ Stock Market indicating that the company will have an additional 180-day grace period, or until December 18, 2023, to regain compliance with NASDAQ's $1.00 minimum bid requirement. The notification indicated that the Company did not regain compliance during the initial 180-day grace period provided under the rule. In accordance with NASDAQ Marketplace Rule 5810(c)(3)(A), the Company is eligible for the additional grace period because it meets the initial listing requirements for the NASDAQ Capital Market, except for the bid price, and the provision of written notice to NASDAQ of ENGlobal's intention to cure the deficiency during the additional grace period by effecting a reverse stock split, if necessary. If, at any time during this additional grace period, the closing bid price of the Company's common stock is at least $1 per share for a minimum of 10 consecutive business days, NASDAQ will provide the Company with written confirmation of compliance and the matter will be closed. If the Company chooses to implement a reverse stock split, however, it must complete the split no later than 10 business days prior to the expiration of the additional grace period in order to timely regain compliance. If ENGlobal does not meet the minimum bid requirement during the additional 180-day grace period, NASDAQ will provide written notification to the Company that its common stock will be subject to delisting. At that time, the Company can request NASDAQ for a hearing to present a plan to regain compliance. This NASDAQ notification does not impact ENGlobal's listing on the NASDAQ Capital Market at this time, and the Company's common stock will continue to trade under its current symbol "ENG" during the additional 180-day compliance period. Reported Earnings • May 17
First quarter 2023 earnings released: US$0.17 loss per share (vs US$0.10 loss in 1Q 2022) First quarter 2023 results: US$0.17 loss per share (further deteriorated from US$0.10 loss in 1Q 2022). Revenue: US$13.2m (up 79% from 1Q 2022). Net loss: US$6.33m (loss widened 75% from 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Price Target Changed • Nov 16
Price target increased to US$5.50 Up from US$3.50, the current price target is provided by 1 analyst. New target price is 456% above last closing price of US$0.99. Stock is down 56% over the past year. The company is forecast to post a net loss per share of US$0.28 next year compared to a net loss per share of US$0.18 last year. Reported Earnings • Nov 09
Third quarter 2022 earnings released: US$0.065 loss per share (vs US$0.068 profit in 3Q 2021) Third quarter 2022 results: US$0.065 loss per share (down from US$0.068 profit in 3Q 2021). Revenue: US$13.1m (up 121% from 3Q 2021). Net loss: US$2.34m (down 197% from profit in 3Q 2021). Revenue is forecast to grow 86% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Energy Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Aug 05
Second quarter 2022 earnings released: US$0.043 loss per share (vs US$0.14 loss in 2Q 2021) Second quarter 2022 results: US$0.043 loss per share (up from US$0.14 loss in 2Q 2021). Revenue: US$11.4m (up 2.5% from 2Q 2021). Net loss: US$1.53m (loss narrowed 64% from 2Q 2021). Over the next year, revenue is forecast to grow 236%, compared to a 24% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Price Target Changed • Jun 03
Price target decreased to US$3.50 Down from US$4.75, the current price target is provided by 1 analyst. New target price is 192% above last closing price of US$1.20. Stock is down 56% over the past year. The company is forecast to post a net loss per share of US$0.18 next year compared to a net loss per share of US$0.18 last year.