ENGlobal Corp. (ENG): A Leaner & Meaner Automation & EngineeENGlobal Corp. (ENG): A Leaner & Meaner Automation & Engineering Powerhouse Focused On Core Segments
ENGlobal’s decision to trim the fat and redouble efforts on their core automation and engineering segments, a process which began back in 2012, seems to have paid off rather well considering the 26.8% YoY jump in nine-month revenues (period ending September 27) to $81M reported earlier this month, with $5.2M in net earnings, or $0.19 per diluted share. Margins have improved sharply, while project execution across the engineering and construction, automation engineering/integration, and subsea controls/integration segments has been exceptional, with a renewed emphasis on customer service helping to sustain momentum.
For a company that specializes in a broad array of design and engineering tasks, as well as the installation, operation and maintenance of facilities (including global U.S. Defense industry turnkey automation and instrumentation solutions for diverse government and public sector interests), tight execution and relationship management is key. The company’s recent results are a testament to ENGlobal’s increasingly laser-like focus and client retention speaks volumes about how serious they are when it comes to delivering results for old and new clients alike. ENG’s efforts to hone their focus and deliver top-line results in their most profitable areas have really put a spotlight on the core engineering and automation offerings. Moreover, this focusing has allowed ENG to substantially grow their core operating areas, and this Houston-based company even managed pull down the number one slot for market return on the Houston Chronicle’s top 100 list of companies.
ENGlobal came in first this June on the Chronicle 100, an independent annual report put out by Houston’s daily newspaper, which looks at public companies throughout the city and ranks them according to overall market return performance, using criteria like annual revenue growth, total revenue, EPS, and the total return to shareholders over the span of a single year. The company’s automation team was a major component of this latest victory, as they pack years of expertise into a punch hitting hard and fast across a wide range of industries. The automation team’s ability to produce fully integrated control, process and power solutions is one of the secret’s to ENG’s success, as they are able to handle project executions in a soup-to-nuts fashion, encompassing everything from assembly, fabrication and programming, to in-house testing and documentation.
For example, earlier this year, ENG reported on a slew of automation awards totaling approximately $10M. From a large automated pipe handling concern’s award for procurement, testing and integration of drilling/pipe handling control systems (complete with programmable logic controllers for diagnostics and resident data processing systems), to a similar award for work in analyzer shelters and remote instrument enclosures by a big refiner, ENG has received and continues to receive lucrative project awards for the exemplary solutions provided by the company’s automation division. Professional execution of complete process control integration services, from drawing board to installation, are particularly key when it comes to stuff like the modular enclosures used in the more difficult areas of energy handling, recovery, and refining. Aspects of ENG’s solutions, like single-source responsibility from start to finish and consistent, standardized programming of the software utilized, are absolutely essential when it comes to things like control cabins for drilling, electrical substations, and blast-resistant process units at a refinery.
The extensive expertise of ENG’s automation team spans multiple sectors, allowing them to handle just about anything when it comes to engineering and implementing automation and control systems, as well as guiding the process from conception, through to operations and optimization. Furthermore, when it comes to system’s integration, offerings like ENGlobal’s field-proven industrial HVAC solutions, assembled and tested on-site at the company’s 80k square foot Houston facility, speak volumes about how advanced their capabilities truly are. These systems aren’t chopped and shopped commercial rebrands like you might see elsewhere, they are designed and built from the ground up to meet and even exceed precise application requirements, ranging from wall-mounted 2 ton units up to 30 ton, redundant slid-mounted units.
Another prime example of the company’s automation integration expertise is their range (250 kW to 8MW) of customized, factory built power islands for electricity generation, which can run off a variety of fuel types, from gas and liquids, to wellhead gas and distillate fuel oil. Unique fusions of all the requisite components (from micro turbines and fuel processing equipment, to onboard automation/SCADA and electrical distribution hardware) needed to realize proven, portable electrical generation, ENGlobal’s power islands can be designed, manufactured and shipped out to customers within 90 days, making them perfect for operations like remote oil and gas production, offshore platforms and a whole host of other industrial applications.
For more information on ENGlobal Corp., visit: www.ENGlobal.com
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