Perma-Pipe reports $59.6 million Q2 sales

• Perma-Pipe reported second quarter fiscal 2026 net sales of $59.6 million, up 24% year over year.
• Net income attributable to common stock increased to $2.5 million, while gross profit rose 21% to $17.4 million.
• The company ended the quarter with a $142.3 million backlog supported by more than $67 million in Q2 awards.

Perma-Pipe International Holdings (NASDAQ:PPIH) reported second quarter fiscal 2026 net sales of $59.6 million, increasing 24% year over year as gross profit reached $17.4 million.

The company’s gross profit increased 21% from the prior-year period, while new awards of more than $67 million during the quarter supported a backlog of $142.3 million.

Net income attributable to common stock increased by $1.6 million to $2.5 million, or $0.31 per diluted share, including a $3.9 million receivable provision and a $1.6 million discrete tax benefit.

The company’s backlog reached $142.3 million at the end of the quarter, providing future project activity supported by recent contract awards.

Perma-Pipe International Holdings provides engineered pipe solutions, including anti-corrosion coatings, insulation systems, containment products, custom fabrication, and leak detection services.