Welcome to our dedicated page for Northwest Pipe Co news (Ticker: NWPX), a resource for investors and traders seeking the latest updates and insights on Northwest Pipe Co stock.
Northwest Pipe Company (NASDAQ: NWPX) is a prominent manufacturer specializing in water-related infrastructure products. Founded in 1966, the company is headquartered in Vancouver, Washington, and boasts 13 manufacturing facilities across North America, strategically positioned to meet the growing demands for water and wastewater infrastructure.
The company operates through two main segments:
- Engineered Steel Pressure Pipe (SPP) Segment: This division is the largest manufacturer of engineered steel pipeline systems in North America. It produces large-diameter, high-pressure steel pipelines primarily used for water transmission, serving applications such as drinking water systems, hydroelectric power systems, wastewater systems, and seismic resiliency. Key products include steel casing pipes with the proprietary Permalok® joint, which are used for crossings and tunnels.
- Precast Infrastructure and Engineered Systems Segment: This segment manufactures stormwater and wastewater technology products, high-quality precast and reinforced concrete products like manholes, box culverts, vaults, and catch basins. Additionally, it produces pump lift stations, oil-water separators, biofiltration systems, and other specialized environmental and engineered solutions.
Northwest Pipe Company is dedicated to quality and innovation, with a diverse team committed to the company's core values of accountability, commitment, and teamwork. Recent achievements include the launch of a new customer-centric website for its ParkUSA line, emphasizing product-based solutions and ease of navigation.
Financially, the company has shown resilience despite challenging market conditions. For instance, in 2023, it maintained strong revenue figures and backlog despite reduced bidding activity and market fluctuations. Northwest Pipe continues to focus on improving its liquidity by paying down debt and generating strong cash flow from operations. It has also authorized a share repurchase program to enhance shareholder value.
For more information, please visit www.nwpipe.com.
Northwest Pipe Company (NASDAQ: NWPX) reported third-quarter 2021 results with net sales rising 9% to $84.6 million, driven by higher pricing and increased shipments of precast concrete. However, gross profit fell 20.8% to $12.4 million due to pressure on project pricing and changes in product mix. Net income decreased to $4.9 million, or $0.50 per diluted share, compared to $7.3 million, or $0.73 per diluted share, in the previous year. The backlog as of September 30, 2021, was approximately $273 million, indicating strong demand, despite some project bidding delays due to COVID-19.
Northwest Pipe Company (NASDAQ: NWPX) will report its third-quarter financial results on November 8, 2021, for the period ending September 30, 2021. Company executives, including President Scott Montross and CFO Aaron Wilkins, will discuss the results during a conference call on November 9, 2021, at 7:00 a.m. PT. The call will be available via the Company's website, with a replay option lasting until November 23, 2021.
Northwest Pipe Company (Nasdaq: NWPX) has acquired Park Environmental Equipment, LLC (ParkUSA) for $87.4 million, a move aimed to enhance its water infrastructure product offerings. The acquisition is expected to be immediately accretive to earnings and aligns with Northwest Pipe's strategy to capitalize on ParkUSA's $66.5 million in revenue and $14 million in adjusted EBITDA for 2020. The deal, finalized on October 5, 2021, expands Northwest's market presence in Texas and reinforces its growth trajectory in the water infrastructure sector.
Northwest Pipe Company (NASDAQ: NWPX) reported second quarter 2021 financial results with net sales increasing 5.5% to $73.8 million from $70.0 million year-over-year, aided by the acquisition of Geneva Pipe. However, gross profit fell 26.4% to $9.5 million due to pricing pressures and product mix changes. Net income dropped to $2.1 million, down from $6.0 million in 2020. Backlog rose to $195 million and includes confirmed orders of $234 million. Management expects slow recovery in steel pressure pipe revenue and margins but anticipates continued strength in the precast concrete sector.
Northwest Pipe Company (Nasdaq: NWPX) has been chosen to supply steel pipe for the Pure Water San Diego project, aimed at providing over 40% of San Diego's water supply by 2035. This project uses advanced water purification technology to enhance recycled water quality while minimizing ocean discharge. The 7.54-mile North City Pure Water Pipeline will transport 30 million gallons per day of recycled water to the Miramar Reservoir. The company will utilize over 3,220 tons of steel to produce the pipeline, showcasing its commitment to sustainable infrastructure solutions.
Northwest Pipe Company (NASDAQ: NWPX) announced it will release its second quarter 2021 financial results on August 4, 2021. A conference call with Scott Montross, President and CEO, and Aaron Wilkins, CFO, is scheduled for August 5, 2021, at 7:00 a.m. PT to discuss the results. The call will be available live on the company's Investor Relations page and can be accessed later through a recorded replay. The company is a leading manufacturer of engineered pipeline systems for water infrastructure.
Northwest Pipe Company (Nasdaq: NWPX) is set to be featured on the June 27 episode of "EARTH with John Holden" on Fox Business Network at 5:00 p.m. ET. The segment will highlight the advantages of engineered steel water pipe, showcasing the installation process at the Saginaw, Texas plant and the Lower Bois d'Arc pipeline project serving 80 communities. Interviews with key personnel from Northwest Pipe and clients emphasize the project's scale. CEO Scott Montross discusses the critical need for reliable water infrastructure as population centers grow.
Northwest Pipe Company (NASDAQ: NWPX) reported a 4.9% increase in net sales to $72.3 million in Q1 2021, driven by contributions from the Geneva Pipe acquisition. However, gross profit decreased by 8.4% to $8.8 million, primarily due to product mix at legacy facilities. Net income rose to $2.2 million ($0.22 per diluted share), compared to $0.6 million ($0.06) in Q1 2020. Backlog was approximately $178 million, reflecting strong demand despite challenges in the steel market. Management anticipates continued supply disruptions in the second quarter.
Northwest Pipe Company (NASDAQ: NWPX) will release its financial results for Q1 2021 on May 3, 2021. A conference call to discuss these results is scheduled for May 4, 2021, at 7:00 a.m. Pacific Time. Northwest Pipe is recognized as the largest manufacturer of engineered steel water pipeline systems in North America, specializing in various water infrastructure products. The company aims to address the growing needs of water and wastewater infrastructure, positioning itself strategically in the market.
Northwest Pipe Company (NASDAQ: NWPX) announced that its subsidiary, Permalok®, will feature in an episode of Manufacturing Marvels® on Fox Business Network on March 15, 2021. This segment will showcase the efficient manufacturing process and installation of Permalok steel casing pipe, which is widely used in trenchless construction. With over four million feet installed and 25 years of experience, the company emphasizes its role in minimizing environmental impact and facilitating quicker project timelines. Scott Montross, CEO, expressed enthusiasm for the segment's educational value to the public.
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