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Perma-Pipe International Holdings, Inc. Announces $15 Million in Contract Awards in the Americas and Middle East Regions

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced $6 million in new project awards in the MENA region. Additionally, the company announced $9 million in new project awards in the Americas, demonstrating continual improvement in the region. These new project awards will utilize Perma-Pipe's anti-corrosion coatings capabilities and the XTRU-THERMĀ® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene cas.
    11/06/2024

The Zacks Analyst Blog JPMorgan, Medtronic, Shopify and Perma-Pipe International

  • JPMorgan, Medtronic, Shopify and Perma-Pipe International are included in this Analyst Blog.
    10/09/2024
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The price of Perma-Pipe International Holdings, Inc. (PPIH) is 15.7605 and it was updated on 2024-11-20 13:00:31.

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Perma-Pipe International Holdings, Inc., announces $4 million in Contract Awards in the Americas Region

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has been awarded three projects in the Americas region. The aggregate amount of these three projects is more than 4 million USD. These project awards will be executed in Perma-Pipe's facilities in Canada and the U.S. Two awards for the provision of anticorrosion coating services for the oil and gas market in western Canada. One award for the provision of double-containment, pre-insulated pi.
    Wed, Sep. 25, 2024

Perma-Pipe's Q2 Earnings Soar Y/Y on Strong MENA Demand

  • PPIH reports a robust Q2 with earnings per share jumping to 40 cents, and a 7% rise in sales driven by a growing backlog.
    Thu, Sep. 12, 2024

Perma-Pipe International Holdings, Inc. Announces Second Quarter Financial Results

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the second quarter and fiscal year-to-date period ended July 31, 2024. "Net sales for the second quarter were $37.5 million, an increase of $2.4 million, as compared to the same quarter last year. Net income attributable to common stock of $3.3 million, was an increase of $2.3 million, or 222%, compared to $1.0 million in the second quarter of 2023. For the six months end.
    Wed, Sep. 11, 2024

Perma-Pipe International Holdings, Inc. Announces $10 Million in Contract Awards in Saudi Arabia

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has recently been awarded new contracts worth $10 million in Saudi Arabia. Most of these awards will be executed and delivered during the next quarter. The newly awarded projects are part of major infrastructure developments in Riyadh, Madinah, and Mekkah in Saudi Arabia. These projects will utilize Perma-Pipe's fabrication and coating capabilities, and the XTRU-THERMĀ® insulation system, a.
    Mon, Jul. 15, 2024

Perma-Pipe's (PPIH) Q1 Earnings Surge Y/Y on Strong Sales

  • Perma-Pipe (PPIH) reports Q1 EPS of 18 cents, reversing last year's loss. Strong backlog and market expansion bolster future outlook despite higher operating expenses.
    Fri, Jun. 14, 2024
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Perma-Pipe International Holdings, Inc. Announces First Quarter Fiscal 2024 Financial Results

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the first quarter ended April 30, 2024. ā€œRevenues for the first quarter were $34.3 million, an increase of $4.6 million or 15%, as compared to the same quarter last year, and net income attributable to common stock of $1.4 million was an increase of $2.5 million or 227%, as compared to a net loss of $(1.1) million in the same quarter of 2023. Our first quarter results dem.
  • 06/13/2024

How to Invest in Microcaps with Lumpy Revenue

  • Evaluating microcaps with lumpy revenue requires more valuation effort. Here we highlight two companies which demonstrates this more rigorous process.
  • 05/28/2024

Zacks Initiates Coverage of PERMA-PIPE With Outperform Recommendation

  • Discover why Zacks rates "Outperform" for PERMA-PIPE, being the first on Wall Street to initiate coverage on the stock. Explore PPIH's strategic role in Qatar's LNG expansion and robust financial growth, amid the thriving global steel pipes market.
  • 05/17/2024

Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2023 Financial Results

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2023 Financial Results.
  • 04/26/2024

Perma-Pipe International Holdings announces acceptance into QatarEnergy's Tawteen Program

  • SPRING, Texas--(BUSINESS WIRE)--PERMA-PIPE International Holdings, Inc (Nasdaq: PPIH) today announces its acceptance into QatarEnergy's Tawteen program. Tawteen is the Supply Chain Localization Program for the energy sector in Qatar led by QatarEnergy. PERMA-PIPE will aim to provide pre-insulated piping systems, custom fabrication and 3-layer polyethylene coatings for QatarEnergy projects. Saleh Sagr, Senior Vice President for PERMA-PIPE's MENA region commented, ā€œWe are pleased to announce and.
  • 01/03/2024

Perma-Pipe International Holdings, Inc. Announces its Third Quarter Fiscal 2023 Financial Results

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the third quarter ended October 31, 2023. ā€œRevenues for the third quarter were $45.7 million, an increase of $7.8 million versus the same quarter last year, and an increase of 30% over those arising in the previous quarter this year. The resulting income from operations of $4.9 million exceeded the $2.9 million earned in the same quarter of 2022 and represents over 70% of.
  • 12/08/2023

Perma-Pipe International Holdings Announces the Appointment of Matthew Lewicki as Vice President and Chief Financial Officer, Secretary and Treasurer

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced the appointment of Matthew Lewicki to Vice President and Chief Financial Officer, Secretary and Treasurer (ā€œCFOā€) replacing long time financial executive D. Bryan Norwood who informed the Board of his intention to retire effective October 2, 2023. As CFO, Matthew is charged with leadership, oversight and execution of all PPIH financial matters and will serve as a key business advisor to the se.
  • 10/02/2023

Perma-Pipe International Holdings, Inc., announces opening of a new state-of-the-art insulation facility in Canada

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is pleased to announce the opening of its second pipe insulating facility in Canada. Strategically located outside of Ottawa, Ontario the new plant will focus primarily on serving the Ontario, Quebec, and Atlantic Canada markets. With the support of our existing plant in Camrose, Alberta, Perma-Pipe is well positioned to provide our valued customers across Canada with top-quality insulation systems. The new 3.
  • 09/28/2023

Perma-Pipe International Holdings Appoints Chuck Heaton as Vice President of Human Resources

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced the appointment of Chuck Heaton to Vice President of Human Resources replacing Jill Curry. Chuck is charged with providing Human Resources strategy and leadership in developing and shaping key core competencies within PPIH that support the continuing growth of the company's business globally. These key core competencies include organizational design, talent management, succession planning, wor.
  • 09/19/2023

Perma-Pipe International Holdings, Inc. Announces its Second Quarter Fiscal 2023 Financial Results

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the second quarter ended July 31, 2023. ā€œRevenues for the second quarter were $35.1 million, a decrease of $1.9 million versus the same quarter last year. The resulting income from operations of $2.7 million was below the $3.3 million earned in the same quarter of 2022. Note that the results for this quarter however included a non-operating one-time tax expense of $0.5 mi.
  • 09/14/2023

Perma-Pipe International Holdings, Inc. announces $8.5 million in contract awards in India and Saudi Arabia

  • SPRING, Texas--(BUSINESS WIRE)--PERMA-PIPE International Holdings, Inc. (Nasdaq: PPIH) today announces the award of contracts with a combined value of $8.5 million in India and the Kingdom of Saudi Arabia. The contracts are for the XTRU-THERMĀ® product. Both projects are scheduled to be delivered by the end of Q4 2023. Saleh Sagr, Senior Vice President for PERMA-PIPE's MENA region, commented: ā€We are thrilled to maintain our market position as the leading provider of preinsulated piping technolo.
  • 09/07/2023

Perma-Pipe International Holdings Announces Contract Awards in Excess of $23 Million

  • SPRING, Texas--(BUSINESS WIRE)--PERMA-PIPE International Holdings, Inc., (Nasdaq: PPIH) today announces the award of contracts with a combined value of $23.5 million in the United Arab Emirates and Egypt. The contracts are for custom coatings in the oil & gas sector as well as the XTRU-THERMĀ® product in the district heating and cooling sector. Saleh Sagr, Senior Vice President for PERMA-PIPE's MENA region, comments, ā€œI am delighted to announce these project awards. In Egypt, it is further c.
  • 09/06/2023

Perma-Pipe International Holdings, Inc. Announces its First Quarter Fiscal 2023 Financial Results

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the first quarter ended April 30, 2023. ā€œRevenues for the first quarter were $29.7 million, a decrease of $1.5 million versus the same quarter last year. The resulting income from operations of $0.1 million was comparable to the $0.2 million earned in the same quarter of 2022," noted President and CEO David Mansfield. "After a significant amount of new awards in the quart.
  • 06/14/2023

Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2022 Financial Results

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the fourth quarter and 2022 fiscal year ended January 31, 2023. "Revenues for the fourth quarter were $36.4 million, $2.7 million below the same quarter last year, and net income of $3.2 million was an increase of $0.2 million compared to the same quarter of 2021. For the year ended January 31, 2023, revenues of $142.6 million were $4.0 million higher than the prior year. The resulting net income of $5.9 million was $0.1 million lower than the prior year. This decrease occurs after a non-cash charge of $0.9 million for the termination of a pension plan in 2022," noted President and CEO David Mansfield. ā€œWhile revenue for the year increased only 3%, pre-tax income before the pension plan charge increased by 25% after improved margins were achieved,ā€ Mr. Mansfield continued. "We continued to see growth in business activity in our markets during 2022. A buoyant oil and gas market in Canada that began in 2021 continued through last year as did increased infrastructure spending in Saudi Arabia. We expect these markets to continue to remain strong. In addition, our new product offerings in Egypt and the U.A.E. resulted in improved margins during 2022, and we will continue to pursue more opportunities in these markets,ā€ noted Mr. Mansfield. "We have been executing our strategic plans, as demonstrated by the recent approval of our joint venture with Gulf Insulation Group (GIG) and the relocation of our U.A.E. operations to a new plant in Abu Dhabi. The joint venture with GIG will better position us to participate in the Saudi Arabian development plans, and the relocation to Abu Dhabi brings us closer to our customers in the oil and gas industry and provides us with a more efficient, state of the art facility,ā€ Mr. Mansfield concluded. Fourth Quarter Fiscal 2022 Results Net sales were $36.4 million and $39.1 million in the three months ended January 31, 2023 and 2022, respectively. The decrease of $2.7 million was primarily a result of the timing of execution of certain large projects. Gross profit was $10.2 million, or 28% of net sales and $9.7 million, or 25% of net sales, in the three months ended January 31, 2023 and 2022, respectively. The increase of $0.5 million was driven by improved gross margins as a result of the mix of projects globally. General and administrative expenses were $5.8 million and $5.3 million in the three months ended January 31, 2023 and 2022, respectively. The increase of $0.5 million was primarily related to higher compensation costs. Selling expenses were $1.3 million and $1.1 million in the three months ended January 31, 2023 and 2022, respectively. The increase of $0.2 million was due to the expansion of the Company's sales force in the current period. Net interest expense was $0.5 million and $0.1 million in the three months ended January 31, 2023 and 2022, respectively. The increase of $0.4 million was related to increased borrowings and higher interest rates. Net other income was $1.5 million in the three months ended January 31, 2023 and less than $0.1 million in the three months ended January 31, 2022. The increase of $1.5 million was due to the release of the Company's liability for a past project as well as insurance recovery income. The Company's worldwide effective tax rates ("ETR") were 20.8% and 6.7% in the three months ended January 31, 2023 and 2022, respectively. The change in the ETR was primarily due to additional United State tax expense due to the inclusion of income from foreign jurisdictions with low effective tax rates, inability to recognize tax benefits on losses in the United States due to a full valuation allowance and changes in the mix of income and loss in the various tax jurisdictions. Net income was $3.2 million and $3.0 million in the three months ended January 31, 2023 and 2022, respectively. The increase in net income was a result of the changes discussed above. 2022 Results Net sales were $142.6 million and $138.6 million in the years ended January 31, 2023 and 2022, respectively. The increase of $4.0 million was primarily a result of higher sales volumes in North America and Saudi Arabia. Gross profit was $38.3 million, or 27% of net sales and $32.5 million, or 23% of net sales, in the years ended January 31, 2023 and 2022, respectively. The increase of $5.8 million was driven by higher sales volumes and improved gross margins as a result of the mix of projects globally. General and administrative expenses were $22.0 million and $19.9 million in the years ended January 31, 2023 and 2022, respectively. The increase of $2.1 million was primarily related to higher compensation costs. Selling expenses were $5.2 million and $4.5 million in the years ended January 31, 2023 and 2022, respectively. The increase of $0.7 million was due to the expansion of the Company's sales force in the current period. Net interest expense was $2.1 million and $0.8 million in the years ended January 31, 2023 and 2022, respectively. The increase of $1.3 million was related to increased borrowings and higher interest rates. Net other income was $0.5 million and $1.0 million in the years ended January 31, 2023 and 2022, respectively. The current year amount includes income from the release of the Company's liability for a past project and insurance recovery income, partially offset by a non-cash pre-tax settlement charge resulting from the termination of the Company's pension plan. The prior year amount includes the receipt of grants from the Canadian government in response to the COVID-19 pandemic. Grants to the Company under these programs ended in the second quarter of 2021. The Company's worldwide ETR's were 37.8% and 27.2% in the years ended January 31, 2023 and 2022, respectively. The change in the ETR was primarily due to additional United State tax expense due to the inclusion of income from foreign jurisdictions with low effective tax rates, inability to recognize tax benefits on losses in the United States due to a full valuation allowance and changes in the mix of income and loss in the various tax jurisdictions. Net income was $5.9 million and $6.1 million in the years ended January 31, 2023 and 2022, respectively. The decrease in net income was a result of the changes discussed above. Percentages set forth above in this press release have been rounded to the nearest percentage point, and may not correspond exactly to the comparative data presented. Perma-Pipe International Holdings, Inc. Perma-Pipe International Holdings is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries. Forward-Looking Statements Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute ā€œforward-looking statementsā€ within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) fluctuations in the price of oil and natural gas and its impact on customer order volume for the Company's products; (ii) the Companyā€™s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (iii) decreases in government spending on projects using the Companyā€™s products, and challenges to the Companyā€™s non-government customersā€™ liquidity and access to capital funds; (iv) the Companyā€™s ability to repay its debt and renew expiring international credit facilities; (v) the Companyā€™s ability to effectively execute its strategic plan and achieve sustained profitability and positive cash flows; (vi) the Company's ability to collect a long-term account receivable related to a project in the Middle East; (vii) the Companyā€™s ability to interpret changes in tax regulations and legislation; (viii) the Company's ability to use its net operating loss carryforwards; (ix) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Companyā€™s "over-time" revenue recognition; (x) the Companyā€™s failure to establish and maintain effective internal control over financial reporting; (xi) the timing of order receipt, execution, delivery and acceptance for the Companyā€™s products; (xii) the Companyā€™s ability to successfully negotiate progress-billing arrangements for its large contracts; (xiii) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xiv) the Companyā€™s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xv) reductions or cancellations of orders included in the Companyā€™s backlog; (xvi) risks and uncertainties specific to the Company's international business operations; (xvii) the Companyā€™s ability to attract and retain senior management and key personnel; (xviii) the Companyā€™s ability to achieve the expected benefits of its growth initiatives; (xix) the impact of pandemics and other public health crises on the Company and its operations; and (xx) the impact of cybersecurity threats on the Companyā€™s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com.) Perma-Pipeā€™s Form 10-K for the 2022 fiscal year ended January 31, 2023 will be accessible at www.sec.gov and www.permapipe.com. For more information, visit the Company's website. PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended January 31, Year Ended January 31, 2023 2022 2023 2022 Net sales $ 36,441 $ 39,126 $ 142,569 $ 138,552 Gross profit 10,236 9,654 38,301 32,530 Total operating expenses 7,115 6,381 27,157 24,419 Income from operations 3,121 3,273 11,144 8,111 Interest expense, net 534 112 2,119 828 Other income 1,498 47 533 1,044 Income before income taxes 4,085 3,208 9,558 8,327 Income tax expense 851 216 3,613 2,265 Net income $ 3,234 $ 2,992 $ 5,945 $ 6,062 Weighted average common shares outstanding Basic 8,004 7,999 7,976 8,110 Diluted 8,214 8,284 8,116 8,395 Earnings per share Basic $ 0.40 $ 0.37 $ 0.75 $ 0.75 Diluted $ 0.39 $ 0.36 $ 0.73 $ 0.72 Note: Earnings per share calculations could be impacted by rounding. PERMA-PIPE INTERNATIONAL HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) January 31, 2023 2022 ASSETS Current assets $ 85,658 $ 78,389 Long-term assets 37,308 45,012 Total assets $ 122,966 $ 123,401 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities $ 43,790 $ 38,397 Long-term liabilities 21,392 30,547 Total liabilities 65,182 68,944 Stockholders' equity 57,784 54,457 Total liabilities and stockholders' equity $ 122,966 $ 123,401
  • 04/27/2023

Perma-Pipe International Holdings announces contract awards in excess of $8 million

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has been awarded two contracts with a combined value in excess of US$8 million. The first is to provide insulated piping for a thermal distribution system on the campus of Fanshawe College in London, Ontario, Canada. The contract is to supply Perma-Pipeā€™s XTRU-THERMĀ® thermally insulated piping system. Grant Dewbre, COO and Senior Vice President for Perma-Pipeā€™s Americas region stated, ā€œWe are excited to be working for Fanshawe College and EllisDon and we thank them for placing their trust in us, and we expect to exceed their expectations.ā€ In addition, today Perma-Pipe International Holdings, Inc. announced its subsidiary, Perma-Pipe Middle East LLC, has been awarded contracts by China Petroleum & Chemical Corporation (Sinopec) for the provision of thermally insulated pipe and field joints for a project in Uganda. This project will feed the East African Crude Oil Pipeline (EACOP) transporting oil to the coast in Tanzania. The project will utilize Perma-Pipeā€™s XTRU-THERMĀ® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing. The projects will begin execution in Perma-Pipeā€™s new facility in Abu Dhabi, UAE in Q3 2023. Saleh Sagr, Senior Vice President for Perma-Pipeā€™s MENA region commented, ā€œI am glad to announce that this important project has been assigned to Perma-Pipe. We have recently announced the opening of the new plant in Abu Dhabi and obtaining this award is an excellent start. It demonstrates the need for a plant that is well positioned to serve export markets as well as oil and gas projects locally in the UAE and neighboring countries.ā€ David Mansfield, President and CEO commented, ā€œWe are pleased to be chosen by EllisDon and Fanshawe College to be a part of this infrastructure project and to provide our district cooling and heating piping system to the Canadian market.ā€ "We are also delighted with the Uganda project, and the opportunity to participate in this significant investment program. We are proud to be partnering with Sinopec so that we can demonstrate our expertise and our industry-leading products and services from our new, high-capacity state-of-the-art facility.ā€ Perma-Pipe International Holdings, Inc. Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries. Forward-Looking Statements Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute ā€œforward-looking statementsā€ within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Companyā€™s ability to repay its debt and renew expiring international credit facilities; (v) the Companyā€™s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Companyā€™s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Companyā€™s products; (ix) decreases in government spending on projects using the Companyā€™s products, and challenges to the Companyā€™s non-government customersā€™ liquidity and access to capital funds; (x) the Companyā€™s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Companyā€™s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Companyā€™s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Companyā€™s backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related to the Company's international business operations; (xvii) the Companyā€™s ability to attract and retain senior management and key personnel; (xviii) the Companyā€™s ability to achieve the expected benefits of its growth initiatives; (xix) the Companyā€™s ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Companyā€™s percentage-of-completion revenue recognition; (xxii) the Companyā€™s failure to establish and maintain effective internal control over financial reporting; and (xxiii) the impact of cybersecurity threats on the Companyā€™s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com).
  • 04/17/2023

Perma-Pipe International Holdings Inc. Announces $6.5 Million in Project Awards in India

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced its subsidiary Perma-Pipe India Pvt. Ltd. (Perma-Pipe India) has been awarded approximately $6.5 million in contracts during the first quarter of 2023. Two major projects will begin execution in Perma-Pipeā€™s Gandhidham, Gujarat, India facility in the first and second quarter of 2023. Reliance New Solar Energy Limited awarded Perma-Pipe India for the provision of thermally insulated pipe and field joints for a chilled water network on the 10 GW solar cell and module factory in Jamnagar, Gujarat. The project will utilize Perma-Pipeā€™s XTRU-THERMĀ® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing. Prior to application of the insulation system, an anti-corrosion liquid epoxy coating system will be applied to the pipes as well as installing Perma-Pipeā€™s own PermAlertĀ® leak detection system. In addition, Megha Engineering & Infrastructures Ltd. awarded Perma-Pipe India for the provision of thermally insulated pipe and field joints for a heat-traced application on the ABNP - Cairn Project, Rajasthan. The project will utilize Perma-Pipeā€™s TRACE-THERMā„¢ insulation system which is designed to ensure optimum heat management during the life of the pipeline. The system will have welded tracer tubes for heat tracing and spray-applied polyurethane foam jacketed with a high-density polyethylene casing. Prior to application of the insulation system, an anti-corrosion fusion bonded epoxy coating will be applied internally and externally using Perma-Pipeā€™s custom coating facility. Saleh Sagr, Sr. Vice President for Perma-Pipeā€™s MENA region states, ā€œWe are pleased to see customers repeating business with us and look forward to serving Reliance New Solar Energy and Megha Engineering on these projects. It is encouraging to see continued opportunities in the Indian market.ā€ David Mansfield, President and CEO commented, ā€œWe are delighted with both of these awards, and that customers return to place their trust in Perma-Pipe to deliver their projects. It is also satisfying to see that the strategic decision to install a custom coating plant in India was the right one.ā€ Perma-Pipe International Holdings, Inc. Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries. Forward-Looking Statements Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute ā€œforward-looking statementsā€ within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Companyā€™s ability to repay its debt and renew expiring international credit facilities; (v) the Companyā€™s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Companyā€™s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Companyā€™s products; (ix) decreases in government spending on projects using the Companyā€™s products, and challenges to the Companyā€™s non-government customersā€™ liquidity and access to capital funds; (x) the Companyā€™s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Companyā€™s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Companyā€™s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Companyā€™s backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related to the Company's international business operations; (xvii) the Companyā€™s ability to attract and retain senior management and key personnel; (xviii) the Companyā€™s ability to achieve the expected benefits of its growth initiatives; (xix) the Companyā€™s ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Companyā€™s percentage-of-completion revenue recognition; (xxii) the Companyā€™s failure to establish and maintain effective internal control over financial reporting; and (xxiii) the impact of cybersecurity threats on the Companyā€™s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com).
  • 04/06/2023

Perma-Pipe International Holdings Inc. Announces Plans to Expand to Qatar

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has taken preliminary steps to expand operations to Qatar and mobilization is expected to commence during the current year. In addition to the local district heating and cooling market, there are numerous significant future developments in the oil and gas industry which the Company will position itself for. David Mansfield, President and CEO commented, ā€œThis expansion is another step in the execution of our strategic plans. Our expansion into Egypt, relocation of our U.A.E. plant to Abu Dhabi and the recently announced joint venture in Saudi Arabia demonstrate our commitment to service the regionā€™s infrastructure growth.ā€ Perma-Pipe International Holdings, Inc. Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries. Forward-Looking Statements Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute ā€œforward-looking statementsā€ within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Companyā€™s ability to repay its debt and renew expiring international credit facilities; (v) the Companyā€™s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Companyā€™s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Companyā€™s products; (ix) decreases in government spending on projects using the Companyā€™s products, and challenges to the Companyā€™s non-government customersā€™ liquidity and access to capital funds; (x) the Companyā€™s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Companyā€™s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Companyā€™s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Companyā€™s backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related to the Company's international business operations; (xvii) the Companyā€™s ability to attract and retain senior management and key personnel; (xviii) the Companyā€™s ability to achieve the expected benefits of its growth initiatives; (xix) the Companyā€™s ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Companyā€™s percentage-of-completion revenue recognition; (xxii) the Companyā€™s failure to establish and maintain effective internal control over financial reporting; and (xxiii) the impact of cybersecurity threats on the Companyā€™s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com).
  • 03/27/2023

Perma-Pipe International Holdings Inc. announces new plant in Abu Dhabi

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has recently opened its largest production facility outside North America in the Emirate of Abu Dhabi in the U.A.E. The facility was inaugurated by H.E. Sheikh Saeed Bin Tahnoon Al Nahyan on March 16, 2023, in an opening ceremony attended by dignitaries from Abu Dhabi, Saudi Arabia, and Qatar in addition to the groupā€™s President and CEO David Mansfield and Chairman Jerry Walker. To meet the growing demand for the district cooling and oil and gas industries in the Middle East, Perma-Pipe has opened the new 6 hectare factory, fully equipped with technologies to provide the latest environmentally-friendly products. The new facility will offer fabrication and Fusion Bonded Epoxy coating capabilities, and the XTRU-THERMĀ® insulation system, a spray-applied polyurethane foam jacketed with a high-density recycled polyethylene casing, and the PolyThermĀ® insulation system, a spray-applied polyurethane foam jacketed with fiberglass reinforced plastic. Saleh Sagr, Sr. Vice President for Perma-Pipeā€™s MENA region commented, ā€œThis new production site opens up many perspectives for Perma-Pipe, the world leader in pre-engineered pre-insulated piping systems. To meet the growing demand in Middle East and North Africa, and also a logistical position to better serve the oil and gas industry in the UAE through its large capacity and an irreproachable product quality.ā€ David Mansfield, President and CEO commented, "This new development is not specific to the U.A.E. only. It is an export hub to serve projects all over the world. We now have a factory that is unique with its wide product offerings with the capacity to respond to the growing demand. We have every reason to believe that the demand for clean energy, such as LNG and hydrogen, will continue to grow in the years to come.ā€ Perma-Pipe International Holdings, Inc. Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries. Forward-Looking Statements Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute ā€œforward-looking statementsā€ within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Companyā€™s ability to repay its debt and renew expiring international credit facilities; (v) the Companyā€™s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Companyā€™s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Companyā€™s products; (ix) decreases in government spending on projects using the Companyā€™s products, and challenges to the Companyā€™s non-government customersā€™ liquidity and access to capital funds; (x) the Companyā€™s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Companyā€™s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Companyā€™s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Companyā€™s backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related to the Company's international business operations; (xvii) the Companyā€™s ability to attract and retain senior management and key personnel; (xviii) the Companyā€™s ability to achieve the expected benefits of its growth initiatives; (xix) the Companyā€™s ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Companyā€™s percentage-of-completion revenue recognition; (xxii) the Companyā€™s failure to establish and maintain effective internal control over financial reporting; and (xxiii) the impact of cybersecurity threats on the Companyā€™s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com).
  • 03/24/2023

3 Cheap Infrastructure Stocks to Build Into Your Portfolio

  • These infrastructure stocks are currently trading for chump change and offer spectacular long-term value for investors. The post 3 Cheap Infrastructure Stocks to Build Into Your Portfolio appeared first on InvestorPlace.
  • 04/21/2022

Perma-Pipe International Holdings, Inc. Announces $3.0 Million Share Repurchase Program

  • NILES, Ill.--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. Announces $3.0 Million Share Repurchase Program
  • 10/04/2021

Perma-Pipe International Holdings Announces Contract Awards of $5.0 Million in Egypt

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings Announces Contract Awards of $5.0 Million in Egypt
  • 09/28/2021

Perma-Pipe International Clocks 95% Sales Growth In Q2

  • Perma-Pipe International Holdings IncĀ (NASDAQ: PPIH)Ā reported second-quarterĀ sales growth of 95.5% year-over-year to $39.8 million, reflecting increased sales volumes in North America and the Middle East. Net income increased to $3.4 million, compared to $0.3 million last year.
  • 09/08/2021

Perma-Pipe International Holdings Announces Contract Award in Excess of $4.5 Million in Canada

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings Announces Contract Award in excess of $4.5 Million in Canada
  • 05/10/2021

Perma-Pipe International Holdings, Inc. Announces Sale and Leaseback Transaction Generating $8.7 Million in Net Proceeds

  • NILES, Ill.--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today that it has completed a sale and leaseback transaction with Nash88, LLC, generating $8.7 million in net proceeds. The property sold consisted of land and buildings in Lebanon, Tennessee related to the coating and fabrication of district heating and cooling piping systems. Perma-Pipe will continue to occupy the facility under an initial fifteen-year lease term, with an option to renew up to an ad
  • 04/19/2021

Perma-Pipe International Holdings Announces Contract to Supply Five Miles of Subsea Insulated Pipe

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced that it has been awarded a contract from LLOG Exploration Offshore to supply over five miles of subsea insulation for tiebacks in the Dome Patrol Field in the Gulf of Mexico. The contract scope awarded to Perma-Pipe covers overseeing engineering support, pipe coating, and supplying insulation for the pipelines. The project will utilize FLOWā€“THERMā„¢ (formerly Auto-ThermĀ®), a glass syntactic poly
  • 02/01/2021

Perma-Pipe International Holdings Announces $6.7 Million Contract Awarded in India

  • SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced its subsidiary Perma-Pipe India Pvt. Ltd. (PPIL) has been awarded a $6.7 million contract by JSIW Infrastructure Pvt. Ltd. (JSIW) for application of a thermal insulation system on pipe to be used for the construction of the 12ā€ diameter, 74 km long Mangla crude oil pipeline. The skin effect heat traced and insulated crude oil pipeline is being developed by HPCL Rajasthan Refinery Ltd (HRRL) (a
  • 01/14/2021

Perma-Pipe International Holdings, Inc. Announces its Third Quarter and Year-to-Date Fiscal 2020 Financial Results

  • NILES, Ill.--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the third quarter ended October 31, 2020. ā€œThird quarter revenue was $20.3 million, $14.2 million below the same quarter last year, and net loss was $2.9 million compared to a net loss of $0.1 million in the same quarter of 2019,ā€ noted President and CEO David Mansfield. "During the quarter the impact of the COVID-19 pandemic has continued to negatively impact our revenues.
  • 12/21/2020
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