Northwest Pipe Co Stock Price, News & Analysis

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.

Northwest Pipe Company (NASDAQ: NWPX) will release its financial results for Q1 2022 on May 4, 2022, after market close. A conference call to discuss the results will take place on May 5, 2022, at 7:00 a.m. PT. The call will feature comments from President and CEO Scott Montross and CFO Aaron Wilkins, and will be available live on the company's website. Northwest Pipe, founded in 1966, is a leading manufacturer of water-related infrastructure products with 13 facilities across North America.

Northwest Pipe Company (Nasdaq: NWPX) has secured a contract to produce over eight miles of engineered steel water pipe for the Red River Valley Water Supply Project in North Dakota. This project aims to provide a stable water supply to central and eastern North Dakota, addressing potential drought impacts estimated at $32 billion. The company will manufacture 7,500 tons of 72-inch-diameter pipeline at its Saginaw, TX facility, with deliveries commencing this summer. The project is expected to benefit more than 35 cities and improve industrial development in the region.

Northwest Pipe Company (NWPX) reported annual net sales of $333.3 million, a 16.6% year-over-year increase. The full-year net income was $11.5 million or $1.16 per diluted share, lower than the previous year. The record backlog reached $183 million, with confirmed orders of $290 million for Engineered Steel Pressure Pipe. The acquisition of ParkUSA on October 5, 2021, contributed $18 million in Q4 revenue. Gross profit was 12.4% lower year-over-year at $44.3 million. Management anticipates ongoing strong performance in its precast concrete segment.

Northwest Pipe Company (NWPX) has been awarded a contract to manufacture engineered steel water transmission pipe for the Navajo-Gallup Water Supply Project, in collaboration with S.J. Louis Construction, Inc. This project aims to provide a sustainable water supply for approximately 250,000 residents in New Mexico, delivering over 37,700 acre-feet of water annually from the San Juan River. NWPX will supply over 1,813 tons of pipeline, produced at its facility in Sonora, Mexico. This initiative enhances critical water infrastructure in the region.

Northwest Pipe Company (NASDAQ: NWPX) will announce its financial results for Q4 and the full year ending December 31, 2021, on March 15, 2022. A conference call with President Scott Montross and CFO Aaron Wilkins is scheduled for March 16, 2022, at 7:00 a.m. PT to discuss the results. The call will be accessible online and archived for those unable to attend. Founded in 1966, Northwest Pipe is a leading North American manufacturer of engineered pipeline systems serving water infrastructure needs.

Northwest Pipe Company (Nasdaq: NWPX) has announced the launch of the InfraShield® Seismic Resilient Joint System, designed for steel water transmission pipelines. This innovative system enhances joint integrity during seismic events and is built on C200 steel's proven performance. The patent-pending technology provides watertight integrity and offers a lower lifetime ownership cost compared to competing systems. InfraShield® requires no special training for installation, making it cost-effective and efficient. The company will showcase this solution at the American Society of Civil Engineering's Lifelines Conference in February.

Northwest Pipe Company (Nasdaq: NWPX) has secured a contract with Garney Construction for the manufacturing of engineered steel pipe for Phase 1B – Segment A of the Carrizo-Water Supply Project, expected to be operational by late 2023. The project, serving Texas communities including San Marcos and Buda, is designed to deliver 19 million gallons of water daily, benefiting over 225,000 residents. Northwest Pipe will produce approximately 89,000 feet of 48-inch-diameter pipeline using over 5,100 tons of steel from its Saginaw, Texas plant.