Perma-Pipe International Holdings, Inc. Reports Third Quarter 2025 Financial Earnings Results

Perma-Pipe International Holdings, Inc. (PPIH) today announced its financial results for the most recent quarter, showcasing a strong performance that exceeded expectations. The company reported earnings per share of $0.77, beating analysts’ estimates by $0.77. Additionally, PPIH achieved quarterly revenue of $61.1 million, surpassing projections by over $11 million. This robust financial performance highlights the company’s continued growth and resilience in the market.

Key Highlights:

• Net sales for Q3 2025 reached $61.1 million, a 46.9% increase from $41.6 million in Q3 2024.
• Gross profit for the quarter was $21.0 million, up from $14.1 million year-over-year.
• Net income attributable to common stock was $6.3 million, a 152.0% increase compared to $2.5 million in the same quarter last year.
• Year-to-date net sales totaled $155.8 million, a 37.4% increase from $113.4 million in the prior year.
• Backlog increased to $148.9 million as of October 31, 2025, up from $138.1 million at the beginning of the year.
• The company is experiencing strong demand in both North America and the Middle East, with significant growth in backlog and sales volumes.

Summary: Perma-Pipe International Holdings, Inc. reported impressive financial results for the third quarter of fiscal 2025, with net sales reaching $61.1 million, reflecting a substantial 46.9% increase compared to the same period last year. This growth was largely driven by increased sales volumes in the Middle East and North America. The company’s gross profit also rose significantly to $21.0 million, indicating heightened operational activity. President and CEO Saleh Sagr highlighted the company’s strong backlog, which grew to $148.9 million, emphasizing that this reflects robust demand for their solutions and a more than 30% increase over the previous year’s backlog.

In addition to the strong quarterly performance, Perma-Pipe reported year-to-date net sales of $155.8 million, a 37.4% increase from the prior year. The net income attributable to common stock surged to $6.3 million, showcasing the company’s operational and financial improvements. Sagr noted the importance of strategic initiatives, including investments in new facilities, stating, “We remain focused on driving profitable growth and enhancing our competitive position within the markets we serve.” The results underscore the company’s commitment to expanding its market presence and meeting the rising demand for its products and services.

Perma-Pipe International Holdings, Inc. (PPIH) has experienced a notable price fluctuation recently, with a 2.84% increase over the past week and a robust 6.70% rise in the last month, signaling positive momentum in the stock. However, the three-month period has seen a decline of 7.89%, suggesting some volatility in the market sentiment. Over the longer term, PPIH has demonstrated impressive growth, with a staggering 102% increase over the past six months and a remarkable 72.09% rise year-over-year, reflecting strong investor confidence. The company’s fundamentals also paint a promising picture, with a price-to-earnings ratio of 15.95, indicating that the stock is reasonably valued relative to its earnings potential. Furthermore, the two-year compound annual growth rates (CAGR) for earnings per share (EPS) and free cash flow are particularly striking at 47.87% and 66.19%, respectively, showcasing the company’s ability to generate substantial profits and cash flow. With a net profit margin of 5.57% and a return on invested capital of 6.89%, PPIH appears to be effectively managing its resources to drive growth. Overall, while recent price changes reflect some short-term volatility, the underlying financial metrics suggest a company poised for continued success.

Perma-Pipe International Holdings, Inc., together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers provides and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines. The company also offers liquid and powder based anti-corrosion coatings for external and internal surfaces of steel pipe, including shapes like bends, reducers, tees, and other spools/fittings that is used in pipelines for the transportation of oil and gas products and potable water. It has operations in the United States, Canada, the Middle East, Europe, India, and internationally. The company was formerly known as MFRI, Inc. and changed its name to Perma-Pipe International Holdings, Inc. in March 2017. Perma-Pipe International Holdings, Inc. was incorporated in 1993 and is headquartered in Niles, Illinois.