Perma-Pipe Q2 FY2026: Net Sales Up 24% to $59.6M, Net Income Triples to $2.5M
PPIH sits 33% above its 52-week low of $21.96.
Summary
Perma-Pipe reported Q2 FY2026 net sales of $59.6 million, up 24.4% year-over-year, with net income attributable to common stock tripling to $2.5 million. Backlog reached $142.3 million and the company detailed its new $90 million JPMorgan credit facility.
Key Events · Earnings and Guidance · PPIH
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Q2 Net Sales Up 24.4%
Net sales rose to $59.6 million from $47.9 million in the prior-year quarter, driven by higher volumes in North America and MENA.
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Net Income Triples to $2.5M
Net income attributable to common stock was $2.5 million, or $0.31 per diluted share, up from $0.9 million, or $0.10 per share, a year earlier.
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$3.9M Receivable Charge
Results included a $3.9 million charge for an uncollectible account receivable from a specific customer, partially offset by a $1.6 million discrete tax benefit.
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Backlog Grows to $142.3M
Backlog at July 31, 2026 was $142.3 million, up from $136.5 million at April 30, 2026, supported by more than $67 million in Q2 new orders.
Analysis · PPIH · Technology
A strong second quarter for Perma-Pipe saw net sales climb 24.4% to $59.6 million, while net income attributable to common stock tripled to $2.5 million, or $0.31 per diluted share. The results include a $3.9 million charge for an uncollectible receivable and a $1.6 million discrete tax benefit, which partially offset each other. Backlog grew to $142.3 million, supported by more than $67 million in new Q2 awards. The company also disclosed details of its new $90 million global credit facility with JPMorgan, replacing a prior $18 million facility — a significant expansion of borrowing capacity that strengthens liquidity. This filing adds full financial statements and non-GAAP reconciliations beyond the earlier news summary, giving investors the complete picture of the quarter.
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At the time of this filing, PPIH was trading at $29.11 on NASDAQ in the Technology sector, with a market capitalization of approximately $236.5M. The 52-week trading range was $21.96 to $36.72. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.