Perma Pipe Stock Price, News & Analysis

Perma-Pipe International Holdings (Nasdaq: PPIH) announced the appointment of Richard M. Sherrill to its Board of Directors, effective December 5, 2025. Mr. Sherrill, age 59, currently serves as Senior Vice President of Business Development at Howard Energy Partners and has been a board member of Talos Energy (NYSE: TALO) since February 2023.

His prior roles include President and founder of Ceritas Energy (2003–2019), senior management at Duke Energy (1999–2003), and positions at Dynegy and First Interstate Bank of Texas. Mr. Sherrill will assume the board seat previously held by Rob McNally. Perma-Pipe operates 14 locations across seven countries and provides pre-insulated piping and leak detection systems for energy and district heating/cooling applications.

Perma-Pipe (NASDAQ: PPIH) announced it secured $52 million in project awards in Q3 2025, including $30 million previously disclosed in September and $22 million of new awards. The new awards comprise major U.S. data center infrastructure projects and Saudi Aramco–related work to be executed from Perma-Pipe’s recently approved Dammam, Saudi Arabia facility.

The release highlights expanded regional manufacturing and fabrication capacity at Dammam, the company’s 14-location global footprint, and management commentary linking wins to growing demand in mission-critical infrastructure.

Perma-Pipe International Holdings (NASDAQ: PPIH) has engaged Energy Capital Solutions to evaluate strategic alternatives following significant business growth. The company, a global leader in engineered pre-insulated piping solutions, reported impressive first-half 2025 results with backlog up 109% to $157.8 million and sales increasing 32% to $94.6 million.

The company serves blue-chip customers worldwide in markets including district heating/cooling, energy infrastructure, and AI/IT datacenter cooling. Recent achievements include completing strategic capital expenditure for new MENA manufacturing facilities and transitioning to next-generation C-suite leadership. Interested parties can access a virtual data room after signing a confidentiality agreement.

Perma-Pipe International Holdings (NASDAQ: PPIH) has achieved two significant milestones: receiving formal technical and commercial approval from Saudi Aramco and securing $30 million in new project awards globally.

The Saudi Aramco approval represents a strategic breakthrough, enabling Perma-Pipe to directly serve the oil and gas sector in Saudi Arabia, expanding beyond its traditional district heating and cooling focus. This positions the company to participate in Saudi Arabia's pipe coating market, one of the largest globally.

The company's expansion aligns with Saudi Arabia's Vision 2030 objectives and demonstrates its commitment to growth in high-potential international markets. Perma-Pipe currently operates in fourteen locations across six countries, specializing in pre-insulated piping and leak detection systems.

Perma-Pipe International Holdings (NASDAQ:PPIH) reported Q2 2025 financial results and announced a strategic review to maximize shareholder value. Q2 net sales increased 27.7% to $47.9 million, while net income decreased to $0.9 million from $3.3 million year-over-year, impacted by a one-time $2.1 million executive compensation charge.

The company's backlog reached $157.8 million, up 109% year-over-year, with growth across North America and MENA regions. The Board has initiated a comprehensive review of strategic alternatives, including potential sale of divisions or the entire company. Additionally, PPIH is establishing a new manufacturing facility in Qatar following $5 million in new awards.

Perma-Pipe International Holdings (NASDAQ: PPIH) reported exceptional Q1 FY2025 financial results, with net sales reaching $46.7M, up 36.2% from $34.3M in Q1 2024. Net income attributable to common stock surged 243% to $5.0M, compared to $1.4M in the prior year. The company's backlog stands at $131.1M, representing a 108% increase from $63.1M in Q1 2024. Gross profit margin improved to 36% from 31% year-over-year. The strong performance was driven by increased sales volumes in the Middle East and North America, better project execution, and improved margins due to product mix. CEO Saleh Sagr noted these results represent unprecedented Q1 performance since the company's transition from MFRI to Perma-Pipe in 2017, with Q1 net income accounting for approximately 55% of full-year fiscal 2024 results.

Perma-Pipe International Holdings (NASDAQ: PPIH) announced the departure of CEO David Mansfield effective June 7, 2025, and appointed Saleh Sagr as the new President and Chief Executive Officer. Sagr, who joined Perma-Pipe in 2019 and most recently served as President, brings over 30 years of international experience in operations, engineering, and executive leadership across energy and infrastructure sectors. The company, a global leader in pre-insulated piping and leak detection systems, operates in fourteen locations across six countries. Board Chairman Jerome T. Walker expressed confidence in Sagr's proven track record of strategic vision, operational insight, and strong leadership to drive continued growth and innovation.

Perma-Pipe International Holdings (Nasdaq: PPIH) has secured its first project award in Qatar worth $2.4 million. The project will utilize the company's fabrication capabilities and XTRU-THERM® insulation system. The company will initially operate from a temporary facility in Doha while constructing a permanent facility to serve as a long-term base for regional operations. This expansion is part of Perma-Pipe's strategic growth plan in the MENA region and will also support markets in Southeast Asia. The company specializes in pre-insulated piping and leak detection systems for oil and gas, district heating and cooling applications, with operations across fourteen locations in six countries.

Perma-Pipe International Holdings (NASDAQ: PPIH) reported strong financial results for Q4 and fiscal 2024. The company achieved net sales of $158.4 million for FY2024, up $7.7 million from the previous year, driven by higher sales volumes in the Middle East and Canada. Income before taxes reached $18.5 million for the year, an $8.6 million increase from FY2023. The company's backlog grew significantly to $138.1 million, marking a 102% increase from the previous year. While net income decreased to $9.0 million from $10.5 million, this was primarily due to a one-time tax benefit in the prior year. Gross profit margin improved to 34% from 28%, reflecting the company's focus on higher-margin products and services. The Saudi Arabia joint venture continues to exceed expectations, and the new Vars, Ontario facility shows increased activity.