Business
Perma-Pipe International Holdings, Inc. Announces Record Fourth Quarter and Fiscal 2025 Results; Net Sales Increase 33% and Net Income Grows 89%
Net sales increased to $55.1 million for the quarter and $210.9 million for the full year, compared to $45.0 million and $158.4 million in the prior year
About this update from Perma-pipe International Holdings, Inc.
[{"type":"text","content":"\n\nNet sales increased to $55.1 million for the quarter and $210.9 million for the full year, compared to $45.0 million and $158.4 million in the prior year periods, respectively\n\n\n\n\nIncome before income taxes increased to $6.4 million for the quarter and $27.5 million for the full year, compared to $5.3 million and $18.5 million in the prior year periods, respectively\n\n\n\n\nGAAP diluted earnings per share increased to $0.60 for the quarter and $2.09 for the full year, compared to $0.22 and $1.12 in the prior year periods, respectively\n\n\n\n\nBacklog stood at $121.6 million, reflecting strong conversion to revenue during the quarter\n\n\n\n THE WOODLANDS, Texas--(BUSINESS WIRE)--\nPerma-Pipe International Holdings, Inc. (NASDAQ: PPIH) today announced financial results for the fourth quarter and 2025 fiscal year ended January 31, 2026.\n\n\n“For the three months ended January 31, 2026, net sales were $55.1 million, an increase of $10.1 million, or 22.4%, compared to $45.0 million in the same quarter of the prior year. Growth was driven by higher sales volumes in both the Middle East and North America. Gross profit was $17.3 million, up $2.1 million from $15.2 million last year, reflecting higher activity levels. Selling, general and administrative expenses increased slightly to $10.3 million from $9.7 million, primarily due to higher payroll costs, partially offset by lower bonus costs. The Company’s effective tax rate (“ETR”) was 12.3%, compared to 32.1% in the prior-year quarter, reflecting the impact of product mix across various tax jurisdictions. As a result, net income attributable to common stock was $4.9 million, an increase of $3.1 million, or 172.2%, compared to $1.8 million in the fourth quarter of fiscal 2024,” noted President and CEO Saleh Sagr.\n\n\n“For the year ended January 31, 2026, net sales were $210.9 million, an increase of $52.5 million, or 33.1%, compared to $158.4 million in the prior year period. The increase was primarily attributable to higher sales volumes in both the Middle East and North America. Gross profit was $69.5 million, compared to $53.2 million in the prior year period, reflecting increased activity levels. Selling, general and administrative expenses were $40.1 million, up from $32.9 million, due to higher payroll and professional fees, including approximately $1.0 million relat...