Synalloy (SYNL) Reports Q2 Loss of $0.11/sh
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Synalloy Reports Second Quarter 2020 Results
September 3, 2020 7:30 AM EDTRICHMOND, Va.--(BUSINESS WIRE)-- Synalloy Corporation (Nasdaq: SYNL), today announced its results for the second quarter of 2020. On June 30, 2020, management and the Board of Directors committed to and approved a plan to pursue a sale and exit of its Palmer Tanks of Texas, Inc. business and is actively marketing the sale of the assets.
During the second quarter of 2020, the Company realized operating losses of $1.9 million and non-cash, pre-tax charges totaling $6.1 million for asset impairments related to the Palmer of Texas Tanks, Inc. business. "The volatility of this business unit... More
