PPIH: Quarterly net sales and income rose, but a $3.9M receivable write-off impacted results

Perma-Pipe International Holdings (PPIH) reported Q2 net sales up 24.4% YoY to $59.6M, with a backlog of $142.3M. Growth driven by Middle East infrastructure projects, new plants in Ohio and Qatar, and a joint venture in Jordan. Gross margin slipped to 29.2% due to higher costs and a $3.9M receivable write-off. CEO Saleh Sagr noted Middle East conflict impacts margins.

Perma-Pipe reported 24% YOY sales growth in Q2 2027, driven by MENA and North America demand. Gross margins were impacted by startup costs at the new Ohio facility. The company expects strong H2 2026, supported by a $142.3M backlog and $900M+ project pipeline. Management anticipates full production capacity by early 2027 and focuses on recurring revenue streams. A $3.9M pre-tax charge was recognized for uncollectible receivables. The company secured a $90M credit facility with JPMorgan Chase.

Perma-Pipe (PPIH) reported Q2 2027 net sales of $59.6M, up 24.4% YoY, with net income of $2.5M. Gross margin was 29.2%, down from 30.1% due to higher costs. Order backlog increased 17% to $142.3M. The company secured a $90M credit facility and expects growth in MENA and North America, but faces margin pressures from Middle East conflict and fixed contracts.

Perma-Pipe International reported Q2 gross profit up 21% to $17.4M, with backlog rising to $142.3M. CEO Saleh Sagr highlighted growth in data-center and district heating/cooling, and a new Ohio facility. The company secured a $90M credit facility and aims to expand leak-detection offerings. Management expects strong H2 performance, pending market conditions.

Perma-Pipe International Holdings, Inc. (PPIH) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Perma-Pipe International Holdings, Inc. Announces Second Quarter 2026 Financial Results ● Net Sales Increased 24% Year-over-Year to $59.6 Million ● Gross Profit Up 21% to $17.4 Million ● Net Income Attributable to Common Stock Increased $1.6 Million to $2.5 Million,

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