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 (PPIH) delivers engineered solutions for critical fluid management systems across energy, chemical, and industrial sectors. This dedicated news hub provides investors and industry professionals with timely updates on the company's technical advancements and market position.
Access official press releases covering new product developments, strategic partnerships, and operational milestones. Our curated collection includes updates on PPIH's specialty piping systems, leak detection innovations, and global project deployments while maintaining strict compliance with financial disclosure standards.
Key content categories include:
- Product & Technology Announcements: Innovations in insulated piping and containment systems
- Strategic Collaborations: Partnerships enhancing industrial safety standards
- Operational Updates: Manufacturing expansions and quality certifications
- Industry Recognition: Awards and acknowledgments for engineering excellence
Bookmark this page for streamlined access to verified information about PPIH's role in advancing infrastructure safety and efficiency. Check regularly for updates on engineered solutions serving energy distribution and hazardous material handling sectors.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has formed a joint venture with Gulf Insulation Group in Saudi Arabia to provide advanced piping systems and services. This venture will support Saudi Vision 2030, focusing on economic diversification and improved public services. Perma-Pipe will maintain a 60% control over the joint venture, pending approval from Saudi authorities. The collaboration aims to offer enhanced products and services across Saudi Arabia, Kuwait, and Bahrain, leveraging Gulf Insulation Group's strong regional presence.
Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced the Board's authorization of a $965 thousand share repurchase program, set to commence within the next year. The buyback will be conducted through open market and private transactions, contingent upon market conditions. This program aims to enhance shareholder value and potentially boost earnings per share. The company, a leader in pre-insulated piping and leak detection systems, operates across thirteen sites in six countries.
Perma-Pipe International Holdings reported net sales of $37.9 million for Q3 2022, up from $35.2 million in Q3 2021. The company achieved income before taxes of $2.9 million, a significant increase from $1.5 million a year prior, despite a $0.9 million non-cash charge due to pension plan termination. Backlog reached $47.0 million as of October 31, 2022, compared to $39.3 million at the start of the year. The company noted strong demand in North America and improved operational returns in Egypt, positioning it well for future growth.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) announced a $14 million contract for the King Salman Park Project in Saudi Arabia, expected to be executed in Q4 2022. This project aligns with Saudi Arabia's Vision 2030 and will utilize Perma-Pipe’s pre-insulated pipes and the XTRU-THERM® insulation system. Key executives expressed confidence in the company’s market position and commitment to Saudi Arabia’s infrastructure development.
Perma-Pipe International Holdings, Inc. (PPIH) reported second-quarter net sales of $37.0 million, down from $39.8 million a year ago. Income from operations decreased to $2.8 million compared to $4.3 million in the same quarter of 2021. The company's backlog improved to $58.0 million from $39.3 million in January 2022, with expectations of revenue growth in the second half of the year. While year-to-date revenues showed a slight increase, rising interest costs and higher effective tax rates impacted net income.
Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced the cancellation of 239,168 shares of treasury stock, representing all shares held as of July 26, 2022. This action follows a $3.0 million stock repurchase program authorized by the Board on October 4, 2021. Currently, $965,000 remains available for future purchases under this program. The strategic move is aimed at managing capital and enhancing shareholder value.
Perma-Pipe International Holdings (NASDAQ: PPIH) announced the retirement of Wayne Bosch as Vice President and Chief Human Resources Officer on July 3, 2022, after eight years of service. He was instrumental in the company’s strategy and growth. Jill Curry has been appointed as his successor, bringing extensive experience in human resources and mergers from her previous roles at Baker Hughes and Wellbore Integrity Solutions. This transition is expected to support the ongoing development and transformation of PPIH’s global operations.
Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) reported net sales of $31.2 million for Q1 2022, representing a 28% increase from $24.4 million in Q1 2021. Income from operations improved by $1.1 million compared to the previous year. The backlog rose to $59.2 million, up 50% from $39.3 million in January 2022. Gross profit also increased to $7 million, accounting for 23% of net sales. However, the company reported a net loss of $(0.9) million, affected by inconsistent tax rates across different countries of operation.
Perma-Pipe International Holdings (PPIH) reported a Q4 net sales of $39.1 million, increasing 84% year-over-year, and a net income of $3.0 million, marking a turnaround from a loss of ($2.5 million) in Q4 2020. For fiscal 2021, revenues reached $138.6 million, up 64% compared to 2020, with a net income of $6.1 million, reversing a net loss from the prior year. Improved profitability was attributed to recovering oil prices and reduced overhead costs. The company also strengthened liquidity through a sale-leaseback agreement and initiated a share repurchase program.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has secured contracts exceeding $15.5 million for projects in Saudi Arabia and Egypt. These projects, set for execution in Q1 2022, are part of significant infrastructure initiatives at locations such as King Salman Park and Ain Shams University. The company's patented XTRU-THERM® insulation and PermAlert® leak detection systems will be utilized. Executives expressed optimism about these awards and their potential to solidify relationships with clients amidst recovering market conditions.
