Welcome to our dedicated page for Perma Pipe news (Ticker: PPIH), a resource for investors and traders seeking the latest updates and insights on Perma Pipe stock.
Perma-Pipe International Holdings, Inc. reports developments in engineered pre-insulated piping, leak detection, and containment systems for infrastructure, energy, industrial, and data center applications. Company news commonly covers project awards, backlog trends, quarterly results, and demand across North America and the Middle East and North Africa region.
Updates also address district heating and cooling projects, pipeline coating and insulation work, localized manufacturing capacity, new facility investments, and board composition. The company's announcements connect its engineered piping systems to energy distribution, mission-critical cooling, chemical and petroleum transport, and environmental protection applications.
Perma-Pipe (NASDAQ:PPIH) reported first quarter 2026 net sales of $50.3 million, up 7.5% year-over-year from $46.7 million, driven by higher volumes in North America and MENA. Gross profit declined to $14.6 million from $16.7 million, reflecting mix effects and start-up costs in Ohio and Qatar.
Earnings before income taxes were $3.9 million versus $7.4 million, and net income attributable to common stock was $1.8 million versus $5.0 million, with a higher 34% effective tax rate. Backlog rose about 12% to $136.5 million, supported by AI-driven data center awards and strong demand despite Middle East timing delays. Management continues to expect revenue and net income growth for fiscal 2026.
Perma-Pipe International Holdings (Nasdaq: PPIH) reported approximately $54 million in project awards in Q1 2026, driven by wins in North America and MENA. Awards span AI-enabled data center work, National Research Laboratories, Marathon project, and major district heating & cooling contracts in UAE and Saudi Arabia.
Management highlighted localization, regional manufacturing investment, and continued demand across energy, utilities, and next-generation digital infrastructure as drivers of a robust pipeline.
Perma-Pipe International Holdings (NASDAQ: PPIH) reported record fourth quarter and fiscal 2025 results with net sales of $55.1M for the quarter and $210.9M for the year, increases of 22.4% and 33.1% respectively. GAAP diluted EPS was $0.60 for Q4 and $2.09 for FY2025. Backlog stood at $121.6M.
Gross profit was $69.5M (33% margin) for the year. Management cited higher volumes in the Middle East and North America, a new long-term Ohio production lease, and a standardized credit facility with J.P. Morgan Chase.
Perma-Pipe International Holdings (Nasdaq: PPIH) announced the appointments of Nancy Zakhour and Saleh Sagr to its Board of Directors, effective April 8, 2026.
Zakhour joins as an independent director and will serve on the Audit, Compensation, and Nominating and Corporate Governance Committees; she brings renewable energy, carbon management and investment banking experience. Sagr, president and CEO since June 7, 2025, was appointed to the Board as a non-independent director and will not join standing committees. The company operates at 13 locations in seven countries.
Perma-Pipe (Nasdaq: PPIH) announced a U.S. Northeast facility to serve AI-driven data centers and district heating, expecting the site to be operational in Q2 2026. The company also reaffirmed stable MENA operations, said it seeks a new global banking agreement, and concluded its strategic-review process.
The Board unanimously determined remaining an independent public company best maximizes shareholder value after its review begun September 15, 2025.
Perma-Pipe International Holdings (NASDAQ: PPIH) reported third quarter fiscal 2025 results for the period ended October 31, 2025. Q3 net sales were $61.1M (up 46.9% vs prior-year quarter) and YTD net sales were $155.8M (up 37.4% YTD). Q3 gross profit was $21.0M and YTD gross profit was $52.2M. Q3 net income attributable to common stock was $6.3M (diluted EPS $0.77); YTD net income was $12.1M (diluted EPS $1.49).
Backlog was $148.9M at October 31, 2025 (up 7.8% vs Jan 31, 2025 and >30% vs prior-year Q3). Operating expense increases included higher payroll and professional fees and one-time charges related to SOX 404 compliance and a previous CEO departure.
Perma-Pipe International Holdings (Nasdaq: PPIH) announced the appointment of Richard M. Sherrill to its Board of Directors, effective December 5, 2025. Mr. Sherrill, age 59, currently serves as Senior Vice President of Business Development at Howard Energy Partners and has been a board member of Talos Energy (NYSE: TALO) since February 2023.
His prior roles include President and founder of Ceritas Energy (2003–2019), senior management at Duke Energy (1999–2003), and positions at Dynegy and First Interstate Bank of Texas. Mr. Sherrill will assume the board seat previously held by Rob McNally. Perma-Pipe operates 14 locations across seven countries and provides pre-insulated piping and leak detection systems for energy and district heating/cooling applications.
Perma-Pipe (NASDAQ: PPIH) announced it secured $52 million in project awards in Q3 2025, including $30 million previously disclosed in September and $22 million of new awards. The new awards comprise major U.S. data center infrastructure projects and Saudi Aramco–related work to be executed from Perma-Pipe’s recently approved Dammam, Saudi Arabia facility.
The release highlights expanded regional manufacturing and fabrication capacity at Dammam, the company’s 14-location global footprint, and management commentary linking wins to growing demand in mission-critical infrastructure.
Perma-Pipe International Holdings (NASDAQ: PPIH) has engaged Energy Capital Solutions to evaluate strategic alternatives following significant business growth. The company, a global leader in engineered pre-insulated piping solutions, reported impressive first-half 2025 results with backlog up 109% to $157.8 million and sales increasing 32% to $94.6 million.
The company serves blue-chip customers worldwide in markets including district heating/cooling, energy infrastructure, and AI/IT datacenter cooling. Recent achievements include completing strategic capital expenditure for new MENA manufacturing facilities and transitioning to next-generation C-suite leadership. Interested parties can access a virtual data room after signing a confidentiality agreement.
Perma-Pipe International Holdings (NASDAQ: PPIH) has achieved two significant milestones: receiving formal technical and commercial approval from Saudi Aramco and securing $30 million in new project awards globally.
The Saudi Aramco approval represents a strategic breakthrough, enabling Perma-Pipe to directly serve the oil and gas sector in Saudi Arabia, expanding beyond its traditional district heating and cooling focus. This positions the company to participate in Saudi Arabia's pipe coating market, one of the largest globally.
The company's expansion aligns with Saudi Arabia's Vision 2030 objectives and demonstrates its commitment to growth in high-potential international markets. Perma-Pipe currently operates in fourteen locations across six countries, specializing in pre-insulated piping and leak detection systems.