Perma-Pipe International Holdings, Inc. reports developments in engineered pre-insulated piping, leak detection, and containment systems for infrastructure, energy, industrial, and data center applications. Company news commonly covers project awards, backlog trends, quarterly results, and demand across North America and the Middle East and North Africa region.
Updates also address district heating and cooling projects, pipeline coating and insulation work, localized manufacturing capacity, new facility investments, and board composition. The company's announcements connect its engineered piping systems to energy distribution, mission-critical cooling, chemical and petroleum transport, and environmental protection applications.
Perma-Pipe (PPIH) reported second quarter fiscal 2026 net sales of $59.6 million, up 24.4% year-over-year, and net income attributable to common stock of $2.5 million, or $0.31 per diluted share, for the period ended July 31, 2026.
Gross profit rose to $17.4 million from $14.4 million, while gross margin slipped to 29.2% from 30.1% due to higher material and logistics costs and Ohio plant ramp-up expenses. Results included a $3.9 million non-recurring customer receivable charge and about $0.5 million of Ohio start-up costs, partly offset by a discrete tax benefit of approximately $1.6 million, driving a 16% effective tax rate versus 54% last year.
Adjusted income before income tax increased to $8.3 million from $4.9 million. Cash reached $31.8 million, Q2 operating cash flow was $8.1 million, and backlog grew to $142.3 million, supported by over $67 million of new awards and a new global credit facility totaling about $90 million of initial commitments.
Perma-Pipe (Nasdaq: PPIH) and Welspun Corp signed a Memorandum of Understanding with the developers of Jordan’s National Water Carrier Project and the Government of Jordan to advance the development of integrated pipe manufacturing and advanced coating facilities in Jordan and to establish a future joint venture.
The planned platform is expected to combine Welspun’s large‑diameter steel pipe manufacturing with Perma-Pipe’s anti‑corrosion coatings and engineered piping expertise to serve major water, oil and gas, energy and infrastructure projects in Jordan and the broader Levant region. According to Perma-Pipe, the initiative aims to support Jordan’s National Water Carrier Project and create a strategic regional hub that strengthens local supply chains and technical capabilities.
Perma-Pipe, Welspun and the project developers are currently working on technical design, manufacturing capacity, coating technologies, market requirements, financing and regulatory approvals. Details on Perma-Pipe’s investment, ownership structure, facility capacity and project timeline will be disclosed once definitive agreements are completed.
Perma-Pipe (Nasdaq: PPIH) announced the closing of a new global credit facility with J.P. Morgan, consisting of a $75 million revolving credit facility and a $14 million term loan, plus access to an additional $50 million in incremental capacity, for total potential availability of up to $139 million.
According to Perma-Pipe, the facility replaces and consolidates multiple existing credit lines across several jurisdictions, creating a centralized global financing structure. Management highlights that the arrangement significantly increases financial capacity, enhances liquidity, and provides greater flexibility to fund working capital, letters of credit, strategic investments and expansion in key international markets.
Perma-Pipe (NASDAQ:PPIH) will release its second quarter 2026 financial results on Wednesday, September 9, 2026, before the market opens. Management will host an investor conference call and webcast at 7:30 a.m. CT / 8:30 a.m. ET the same day, with live and replay access available.
Perma-Pipe (Nasdaq: PPIH) reported securing more than $67 million in new orders during the second quarter of fiscal 2026, strengthening its backlog and visibility into future revenue. The orders span core Oil & Gas and infrastructure markets, with sizable awards in MENA and Canada.
The company also booked its largest single leak detection project to date and highlighted continued backlog growth at its new Ohio manufacturing facility, which is becoming an important North American platform. According to Perma-Pipe, strong demand across five structurally growing end-markets and major investment programs in MENA support its multi-year growth ambitions.
Perma-Pipe (NASDAQ:PPIH) has been added to the Russell 2000 and Russell 3000 indexes, effective at the US market open on June 29, 2026, following the first 2026 Russell reconstitution.
Membership is based on market-cap rankings; about $12.2 trillion tracks Russell US indexes.
Perma-Pipe (NASDAQ:PPIH) reported first quarter 2026 net sales of $50.3 million, up 7.5% year-over-year from $46.7 million, driven by higher volumes in North America and MENA. Gross profit declined to $14.6 million from $16.7 million, reflecting mix effects and start-up costs in Ohio and Qatar.
Earnings before income taxes were $3.9 million versus $7.4 million, and net income attributable to common stock was $1.8 million versus $5.0 million, with a higher 34% effective tax rate. Backlog rose about 12% to $136.5 million, supported by AI-driven data center awards and strong demand despite Middle East timing delays. Management continues to expect revenue and net income growth for fiscal 2026.
Perma-Pipe International Holdings (Nasdaq: PPIH) reported approximately $54 million in project awards in Q1 2026, driven by wins in North America and MENA. Awards span AI-enabled data center work, National Research Laboratories, Marathon project, and major district heating & cooling contracts in UAE and Saudi Arabia.
Management highlighted localization, regional manufacturing investment, and continued demand across energy, utilities, and next-generation digital infrastructure as drivers of a robust pipeline.
Perma-Pipe International Holdings (NASDAQ: PPIH) reported record fourth quarter and fiscal 2025 results with net sales of $55.1M for the quarter and $210.9M for the year, increases of 22.4% and 33.1% respectively. GAAP diluted EPS was $0.60 for Q4 and $2.09 for FY2025. Backlog stood at $121.6M.
Gross profit was $69.5M (33% margin) for the year. Management cited higher volumes in the Middle East and North America, a new long-term Ohio production lease, and a standardized credit facility with J.P. Morgan Chase.
Perma-Pipe International Holdings (Nasdaq: PPIH) announced the appointments of Nancy Zakhour and Saleh Sagr to its Board of Directors, effective April 8, 2026.
Zakhour joins as an independent director and will serve on the Audit, Compensation, and Nominating and Corporate Governance Committees; she brings renewable energy, carbon management and investment banking experience. Sagr, president and CEO since June 7, 2025, was appointed to the Board as a non-independent director and will not join standing committees. The company operates at 13 locations in seven countries.