Welcome to our dedicated page for Northwest Pipe Company news (Ticker: $NWPX), a resource for investors and traders seeking the latest updates and insights on Northwest Pipe Company stock.
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Northwest Pipe Company (NASDAQ: NWPX)
Northwest Pipe Company reported a decrease in net sales of 1.8% year-over-year, totaling $116.4 million. The gross profit also decreased by 6.6% year-over-year, amounting to $22.5 million. The net income was $0.74 per diluted share. The backlog including confirmed orders for the Engineered Steel Pressure Pipe segment was $343 million, and the order book for the Precast Infrastructure and Engineered Systems segment was $58 million. The Company's management highlighted the performance of the Precast and SPP businesses, attributing the SPP's rebound to a slow first quarter and projecting a good year by historical standards despite the impact of elevated interest rates on the segment. The SPP's net sales increased by 0.2% to $77.3 million, while the Precast's net sales decreased by 5.6% to $39.1 million. The Company also provided details on its balance sheet, cash flow, and upcoming earnings conference call.