Welcome to our dedicated page for Perma Pipe SEC filings (Ticker: PPIH), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Perma-Pipe International Holdings, Inc. files SEC reports that document financial results, material agreements, governance changes, and operational updates for its engineered piping infrastructure business. Recent Form 8-K disclosures cover quarterly and annual results, Regulation FD communications, and exhibits tied to press releases on project activity and facility investments.
The company's filings also record capital-structure and liquidity matters, including an asset-based revolving credit facility, as well as board appointments, director independence, committee assignments, and director resignations. These disclosures frame Perma-Pipe's public-company reporting around operating performance, financing arrangements, and corporate governance.
Perma-Pipe International Holdings, Inc. filed a shelf registration on June 9, 2026 to offer up to $75,000,000 of debt securities, common stock, warrants, stock purchase contracts and stock purchase units. The prospectus is general and states that specific terms, offering prices and distribution details will be provided in prospectus supplements.
The document discloses 8,125,713 shares of common stock outstanding as of June 8, 2026 and notes the last reported sale price of common stock of $31.27 per share on June 8, 2026. The registration includes standard shelf mechanics, plan-of-distribution options, and incorporation-by-reference of periodic reports.
Perma-Pipe International Holdings reported higher sales but sharply lower profit for the quarter ended April 30, 2026. Net sales rose to $50.3 million from $46.7 million, but net income attributable to common stock fell to $1.8 million from $5.0 million, with diluted EPS down to $0.22 from $0.61.
Gross margin declined to 29% from 36%, mainly due to product mix, seasonality in Canada, and ramp-up costs at a new Ohio facility and projects in Qatar. Operating cash flow improved to $6.1 million, lifting cash and restricted cash to $31.8 million. Total debt increased to $38.0 million, including a new $18.0 million North American asset-based revolver with $15.3 million drawn.
Management again concluded disclosure controls and procedures were not effective because of ongoing material weaknesses in internal control over financial reporting, some of which previously led to revisions and a restatement. Remediation efforts, including improved segregation of duties, new consolidation software, and strengthened MENA controls, are underway but not yet complete.
Perma-Pipe International Holdings reported first-quarter fiscal 2026 net sales of $50.3 million, up 7.5% from $46.7 million a year earlier, driven by higher volumes in North America and the MENA region. Despite this growth, profitability weakened.
Gross profit fell to $14.6 million from $16.7 million, as project mix, seasonal factors in Canada, and start-up and ramp-up costs at new Ohio and Qatar facilities pressured margins. Total operating expenses rose to $10.0 million, including higher professional fees from accelerated filer and Sarbanes-Oxley compliance work.
Net income attributable to common stock declined to $1.8 million, or $0.22 per diluted share, from $5.0 million, or $0.61 per diluted share, reflecting lower operating income, higher interest expense, and an effective tax rate of 34% versus 21% previously. Management noted Middle East geopolitical issues delayed project execution but said no projects were cancelled.
The company highlighted a backlog of $136.5 million at April 30, 2026, up from $121.6 million at January 31, 2026, supported by newly awarded AI-driven data center work and broad bidding activity across infrastructure, energy, industrial, water, and data center markets. Perma-Pipe continues to anticipate revenue and net income growth for fiscal 2026 and plans to begin quarterly earnings calls starting in the second quarter to deepen engagement with investors.
Perma-Pipe International Holdings is asking stockholders to elect five directors, approve 2026 executive pay on an advisory basis, and ratify PwC as independent accountant, while highlighting a year of record performance. For fiscal 2025, net sales reached $210.9 million, up 33% from $158.4 million in 2024, driven by demand in the Middle East and North America. Net income attributable to common stock rose to $17.0 million from $9.0 million, an 89% increase, marking a record year. Year-end backlog was $121.6 million, supporting future revenue. The company is expanding U.S. operations with a new Ohio facility focused on the fast-growing AI data center market and continues to emphasize diversified growth in Middle Eastern infrastructure and water security projects. Governance changes include a fully refreshed independent board since 2024, majority voting in uncontested elections, stock ownership guidelines, a robust clawback policy, and restrictions on hedging and short sales. A Willis Towers Watson review found executive total direct compensation about 39% below the market median, and the board expects to implement average executive base salary increases of roughly 10% in 2026 under a pay-for-performance framework.
Perma-Pipe International Holdings, Inc. reported record fourth-quarter and fiscal 2025 results for the year ended January 31, 2026, driven by strong demand in the Middle East and North America. Fourth-quarter net sales rose to $55.1 million, up $10.1 million or 22.4%, while net income attributable to common stock increased to $4.9 million and diluted EPS reached $0.60.
For the full year, net sales grew 33.1% to $210.9 million and net income attributable to common stock nearly doubled to $17.0 million, with diluted EPS of $2.09. Gross profit expanded to $69.5 million, and the effective tax rate improved to 24.9%. Backlog was $121.6 million, and stockholders’ equity increased to $90.6 million, reflecting a stronger balance sheet.
Perma-Pipe International Holdings reported strong growth for the year ended January 31, 2026, driven by higher project activity in the Middle East, Canada, and the United States. Net sales rose to $210.9 million from $158.4 million, while gross profit increased to $69.5 million, or 33% of net sales.
Net income attributable to common stock nearly doubled to $17.0 million, helped by higher volumes and a lower 24.9% effective tax rate. Backlog was $121.6 million versus $138.1 million a year earlier, mainly due to converting orders into revenue and timing of new awards.
Liquidity remained solid, with $18.7 million in cash, $66.9 million of working capital, and access to North American and foreign credit facilities. The company generated $9.2 million of operating cash flow and increased capital spending, particularly in the Middle East, while continuing to rely heavily on international sales, which were 71.7% of total.
The auditor issued an adverse opinion on internal control over financial reporting, citing several material weaknesses, though the financial statements were given a clean opinion. Management is investing in remediation, reinforcing controls, and enhancing cybersecurity, while operating a 909-person workforce across North America, the Middle East, and other international locations.
Perma-Pipe International Holdings entered into a new senior secured, asset-based revolving credit facility with JPMorgan Chase Bank, N.A., providing aggregate revolving commitments of $18.0 million, including a $1.5 million sublimit for letters of credit.
The facility is secured by substantially all assets of the company and certain subsidiaries and matures on October 7, 2027. Borrowing availability is based on 80% of eligible accounts receivable plus 25% of eligible inventory, and loans bear interest at a CB Floating Rate or adjusted term SOFR plus a leverage-based margin, with additional commitment fees on unused commitments and customary covenants and events of default.
Zakhour Nancy reported acquisition or exercise transactions in this Form 4 filing.
Perma-Pipe International Holdings, Inc. director Nancy Zakhour received a grant of 576 shares of Common Stock as compensation for her services as an independent director. The shares were awarded at $0.00 per share, and she now directly owns 576 shares following this transaction.
Perma-Pipe International Holdings, Inc. director Nancy Zakhour has filed an initial Form 3 ownership report. The filing lists her as a director of the company but does not report any insider share purchases, sales, or other transactions. This is an administrative disclosure establishing her reporting status under insider ownership rules.
Perma-Pipe International Holdings Inc: Dimensional Fund Advisors filed Amendment No. 14 to a Schedule 13G/A reporting beneficial ownership of 388,193 shares of Common Stock, representing 4.8% of the class. The filing shows 384,879 shares with sole voting power and states the shares are owned by managed Funds; Dimensional disclaims beneficial ownership.