Northwest pipe company announces fourth quarter and full year 2023 financial results

Fourth quarter 2023 net sales of $110.2 million increased 3.1% year-over-year annual net sales of $444.4 million decreased 2.9% year-over-year annual gross profit of $77.6 million decreased 9.6% year-over-year from 2022 record annual net income of $2.09 per diluted share strong annual cash generation with net cash provided by operating activities of $53.5 million backlog1 of $273 million; backlog including confirmed orders2 of $319 million for the engineered steel pressure pipe segment ("spp") order book3 of $46 million for the precast infrastructure and engineered systems segment ("precast") repurchased $4.4 million of common stock through february 29, 2024 record safety performance; annual total recordable incident rate of 1.51 vancouver, wash. , march 4, 2024 /prnewswire/ -- northwest pipe company (nasdaq: nwpx) (the "company"), a leading manufacturer of water-related infrastructure products, today announced its financial results for the fourth quarter and full year ended december 31, 2023.
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