NWPX Infrastructure, Inc. reports recurring developments in water-related infrastructure manufacturing, with updates centered on its Water Transmission Systems and Precast Infrastructure and Engineered Systems segments. The Northwest Pipe Company brand produces engineered water transmission systems, steel casing pipe, bar-wrapped concrete cylinder pipe, and pipeline system joints and fittings for drinking water and related infrastructure applications.
Company news also covers NWPX Geneva, NWPX Park, and NWPX Precast products for stormwater, wastewater, sanitary sewer, water distribution, and environmental infrastructure markets. Recurring themes include quarterly and annual results, WTS backlog and Precast order book trends, product technology such as Permalok radial bending joint applications, completed precast acquisitions, manufacturing operations, share repurchases, and leadership or governance updates.
Northwest Pipe Company (NASDAQ: NWPX) is enhancing its investment in precast concrete operations in Utah, committing over $18 million in capital improvements at its Geneva Pipe and Precast Company plants. This follows its October 2021 acquisition of Park Environmental Equipment, LLC, which included three Texas facilities. The company has begun new manufacturing initiatives, including a batch plant in St. George and a new automated concrete pipe machine, aiming to meet increasing demand for reinforced concrete pipe. CEO Scott Montross noted that order levels are at an all-time high.
Northwest Pipe Company (NASDAQ: NWPX) reported third-quarter 2021 results with net sales rising 9% to $84.6 million, driven by higher pricing and increased shipments of precast concrete. However, gross profit fell 20.8% to $12.4 million due to pressure on project pricing and changes in product mix. Net income decreased to $4.9 million, or $0.50 per diluted share, compared to $7.3 million, or $0.73 per diluted share, in the previous year. The backlog as of September 30, 2021, was approximately $273 million, indicating strong demand, despite some project bidding delays due to COVID-19.
Northwest Pipe Company (NASDAQ: NWPX) will report its third-quarter financial results on November 8, 2021, for the period ending September 30, 2021. Company executives, including President Scott Montross and CFO Aaron Wilkins, will discuss the results during a conference call on November 9, 2021, at 7:00 a.m. PT. The call will be available via the Company's website, with a replay option lasting until November 23, 2021.
Northwest Pipe Company (Nasdaq: NWPX) has acquired Park Environmental Equipment, LLC (ParkUSA) for $87.4 million, a move aimed to enhance its water infrastructure product offerings. The acquisition is expected to be immediately accretive to earnings and aligns with Northwest Pipe's strategy to capitalize on ParkUSA's $66.5 million in revenue and $14 million in adjusted EBITDA for 2020. The deal, finalized on October 5, 2021, expands Northwest's market presence in Texas and reinforces its growth trajectory in the water infrastructure sector.
Northwest Pipe Company (NASDAQ: NWPX) reported second quarter 2021 financial results with net sales increasing 5.5% to $73.8 million from $70.0 million year-over-year, aided by the acquisition of Geneva Pipe. However, gross profit fell 26.4% to $9.5 million due to pricing pressures and product mix changes. Net income dropped to $2.1 million, down from $6.0 million in 2020. Backlog rose to $195 million and includes confirmed orders of $234 million. Management expects slow recovery in steel pressure pipe revenue and margins but anticipates continued strength in the precast concrete sector.
Northwest Pipe Company (Nasdaq: NWPX) has been chosen to supply steel pipe for the Pure Water San Diego project, aimed at providing over 40% of San Diego's water supply by 2035. This project uses advanced water purification technology to enhance recycled water quality while minimizing ocean discharge. The 7.54-mile North City Pure Water Pipeline will transport 30 million gallons per day of recycled water to the Miramar Reservoir. The company will utilize over 3,220 tons of steel to produce the pipeline, showcasing its commitment to sustainable infrastructure solutions.
Northwest Pipe Company (NASDAQ: NWPX) announced it will release its second quarter 2021 financial results on August 4, 2021. A conference call with Scott Montross, President and CEO, and Aaron Wilkins, CFO, is scheduled for August 5, 2021, at 7:00 a.m. PT to discuss the results. The call will be available live on the company's Investor Relations page and can be accessed later through a recorded replay. The company is a leading manufacturer of engineered pipeline systems for water infrastructure.
Northwest Pipe Company (Nasdaq: NWPX) is set to be featured on the June 27 episode of "EARTH with John Holden" on Fox Business Network at 5:00 p.m. ET. The segment will highlight the advantages of engineered steel water pipe, showcasing the installation process at the Saginaw, Texas plant and the Lower Bois d'Arc pipeline project serving 80 communities. Interviews with key personnel from Northwest Pipe and clients emphasize the project's scale. CEO Scott Montross discusses the critical need for reliable water infrastructure as population centers grow.
Northwest Pipe Company (NASDAQ: NWPX) reported a 4.9% increase in net sales to $72.3 million in Q1 2021, driven by contributions from the Geneva Pipe acquisition. However, gross profit decreased by 8.4% to $8.8 million, primarily due to product mix at legacy facilities. Net income rose to $2.2 million ($0.22 per diluted share), compared to $0.6 million ($0.06) in Q1 2020. Backlog was approximately $178 million, reflecting strong demand despite challenges in the steel market. Management anticipates continued supply disruptions in the second quarter.
Northwest Pipe Company (NASDAQ: NWPX) will release its financial results for Q1 2021 on May 3, 2021. A conference call to discuss these results is scheduled for May 4, 2021, at 7:00 a.m. Pacific Time. Northwest Pipe is recognized as the largest manufacturer of engineered steel water pipeline systems in North America, specializing in various water infrastructure products. The company aims to address the growing needs of water and wastewater infrastructure, positioning itself strategically in the market.