Northwest Pipe Co Stock Price, News & Analysis

Northwest Pipe Company (Nasdaq: NWPX) has been selected to produce engineered steel pressure pipe for the Alliance Regional Water Authority Phase 1B-Segment D, a major water infrastructure project in Central Texas. This phase will deliver approximately 5,500 acre-feet of water per year, expanding to 15,000 acre-feet with future enhancements. The project aims to serve over 225,000 residents and is funded primarily through bond issuances. Completion is expected in 2024, highlighting Northwest Pipe's role in supporting Texas's long-term water needs.

Northwest Pipe Company (Nasdaq: NWPX) has launched the Permalok® Radial Bending Joint (RBJ), a pioneering technology for trenchless microtunneling that allows steel pipes to be installed at a curved radius of 800 feet. This patent-pending innovation reduces installation time and costs by eliminating traditional butt-weld joints. The RBJ is available in diameters from 30 to 156 inches and was validated through Finite Element Analysis at the University of Thessaly. This development positions Northwest Pipe to enhance efficiency in challenging installation environments.

Northern Pipe Company (NASDAQ: NWPX) reported a robust performance for Q3 2022, with net sales of $123 million, a 45.3% increase year-over-year. Gross profit surged 103.2% to $25.1 million, yielding a net income of $10 million or $0.99 per diluted share. The Engineered Steel Pressure Pipe segment generated $83.7 million in revenue, while the Precast Infrastructure segment rose to $39.3 million, driven by the acquisition of ParkUSA. The total backlog reached $295 million, with confirmed orders at $347 million, marking a new record.

Northwest Pipe Company (Nasdaq: NWPX) has been awarded a contract by Sukut Construction and the City of San Diego to supply engineered steel pressure pipe for the Pure Water Program. The project aims to produce 30 million gallons of purified water daily, significantly reducing reliance on imported water. Northwest Pipe will manufacture over 4,860 tons of specialized pipe at its Adelanto facility, contributing to over six and a half miles of new pipelines. The project is expected to start deliveries in Q1 2023 and is part of a sustainable approach to water sourcing for San Diego.

Northwest Pipe Company (NASDAQ: NWPX) will release its third quarter 2022 financial results after market close on November 8, 2022. A conference call discussing these results is scheduled for 7:00 a.m. PT on November 9, 2022. The company is a leading manufacturer of water-related infrastructure products in North America, focusing on engineered pipeline systems, precast concrete products, and wastewater equipment. Established in 1966, Northwest Pipe is headquartered in Vancouver, Washington, and operates 13 manufacturing facilities across North America.

Northwest Pipe Company (NASDAQ: NWPX) reported a significant financial performance in Q2 2022, with net sales soaring 60.6% year-over-year to $118.5 million.

Gross profit reached $24.1 million, up 152.5% year-over-year, leading to a net income of $0.97 per diluted share. The company benefited from record revenues and profits in its recently acquired Precast segment, contributing to a backlog of $303 million and confirmed orders worth $338 million in the Engineered Steel Pressure Pipe segment.

However, recent flooding incidents may pose risks to third-quarter performance.

Northwest Pipe Company (NASDAQ: NWPX) will release its second-quarter 2022 financial results on August 8, 2022, after market close. A conference call will follow at 2:00 p.m. PT on the same day, featuring CEO Scott Montross and CFO Aaron Wilkins discussing earnings. The call will be accessible live via the company's Investor Relations website and will be archived for later listening. Northwest Pipe, founded in 1966, specializes in manufacturing water-related infrastructure products, including engineered pipeline systems and precast products, and operates 13 manufacturing facilities across North America.

Northwest Pipe Company (NWPX) has been awarded a contract to produce engineered steel pipe for the Central Utah Water Conservancy District's Spanish Fork Santaquin Pipeline Project. The company will manufacture over 2,500 tons of 60-inch diameter pipeline and expects to deliver approximately 12,200 feet of product starting in Q3 2022. This initiative aims to enhance water delivery for over 1.5 million residents in central Utah, emphasizing the critical nature of the project as the state experiences steady population growth.

For Q1 2022, Northwest Pipe Company (NWPX) reported a 51.2% increase in net sales, totaling $109.3 million compared to Q1 2021. The gross profit rose 68.5% to $14.8 million, with net income at $3.6 million or $0.36 per diluted share. Notably, the Engineered Steel Pressure Pipe segment saw a record backlog of $341 million, driven by strong bidding activity. The Precast segment also performed well, achieving 182.5% growth in net sales, primarily due to the integration of ParkUSA. The company emphasizes ongoing growth prospects and margin expansion moving forward.