Perma-Pipe International Reports Q2 Earnings, Highlights Growth Amid Operational Challenges
Perma-Pipe International Holdings (PPIH) reported strong second-quarter results in fiscal year 2027. Revenue reached $59.6 million, up 24.4% year-over-year due to increased production volumes in the Middle East and North America regions. Gross profit rose by 20.7%, but gross margin slightly declined to 29.2% from 30.1% as a result of higher material costs, logistics expenses, and startup costs at its Ohio facility. The company reported net income attributable to common stockholders of $2.5 million or $0.31 per diluted share, up significantly from the prior year despite a $3.9 million accounts receivable charge related to one customer. Adjusted earnings before tax reached $8.3 million compared to $4.9 million in the same period last year. Perma-Pipe also noted an order backlog of $142.3 million, up 17% from the previous fiscal year end.
Tickers: $PPIH
Topics: earnings financial performance profitability sales growth