Welcome to our dedicated page for Perma Pipe news (Ticker: PPIH), a resource for investors and traders seeking the latest updates and insights on Perma Pipe stock.
Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) generates a steady flow of news tied to its role as an engineered piping infrastructure manufacturer and global provider of pre-insulated piping and leak detection systems. News coverage on this page centers on how the company’s engineered piping solutions support oil and gas gathering, district heating and cooling, energy infrastructure, industrial facilities, AI / IT data center cooling, and environmental protection applications.
Investors and industry followers can use this PPIH news feed to track company announcements about financial performance, including quarterly and annual results, backlog trends, and commentary from management on activity in core markets such as North America and the Middle East. Perma-Pipe frequently reports on project awards and contract wins, including data center infrastructure projects, Saudi Aramco-related work, and new awards in regions like Qatar and the broader MENA region.
News items also highlight strategic developments, such as investments in new manufacturing facilities in MENA, technical and commercial approvals from major customers, leadership changes at the executive and board levels, and the company’s process to evaluate strategic alternatives with an external financial advisor. These updates provide context on how Perma-Pipe is pursuing geographic, market, and product expansion while managing risks related to energy prices, international operations, and project execution.
By following this page, readers can review Perma-Pipe’s press releases and related disclosures in one place, including updates on backlog, regional performance, and strategic initiatives that shape the company’s position in the engineered piping and leak detection markets.
Perma-Pipe International Holdings (NASDAQ: PPIH) announced the non-re-election of long-standing board member David Barrie and the appointment of Robert McNally to the board effective February 14, 2022. Barrie has served on the board since 2012 and as Chairman since 2015, overseeing significant strategic transitions. Jerome Walker will take over as Chairman. McNally brings extensive leadership experience, having previously served as CEO of EQT Corporation. The changes are aimed at enhancing the board’s capabilities to drive growth for shareholders.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) announced it secured $6.0 million in contracts for projects in Egypt and Saudi Arabia. The projects will utilize the company’s fabrication capabilities and the XTRU-THERM® insulation system. These contracts are part of significant infrastructure developments in Al-Alamin, Egypt, and Misk City, Saudi Arabia. Perma-Pipe's leadership expressed confidence in their strategic growth plans and the opportunity to enhance sustainability through their energy-efficient systems.
Perma-Pipe International Holdings (PPIH) reported a strong performance for Q3 2021 with net sales of $35.2 million, a significant increase of 73% year-over-year. The company achieved a net income of $0.5 million, reversing a loss of $2.9 million in the same quarter of 2020. The current backlog stands at $54.4 million, up from $52.6 million at the start of the year. The firm renewed an $18 million credit agreement and initiated a $3 million share buyback program. Despite ongoing supply chain challenges, PPIH is focused on growth initiatives exacerbated by the pandemic.
Perma-Pipe International Holdings (NASDAQ: PPIH) has authorized a
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) announced the award of approximately
Perma-Pipe International Holdings reported Q2 2021 net sales of $39.8 million, a 95% increase from the previous year. Net income rose to $3.4 million, up from $0.3 million in Q2 2020, driven by recovery from the COVID-19 pandemic and new product lines in the U.A.E. Gross profit improved to $10.7 million, representing 27% of net sales. Year-to-date net sales reached $64.2 million, a 49% increase. Backlog increased to $53.2 million as of July 31, 2021. Although operating conditions are improving, challenges remain due to ongoing pandemic effects.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has announced the appointment of Grant Dewbre as Chief Operating Officer and Saleh Sagr as Senior Vice President for the MENA region. Grant, who has over 30 years of experience, aims to enhance operations globally, leveraging his expertise from MENA. Saleh, with over 15 years of experience, will expand Perma-Pipe’s presence and capabilities in the MENA region. Both leaders are expected to positively impact the company’s growth trajectory and operational efficiency moving forward.
Perma-Pipe International Holdings (NASDAQ: PPIH) reported first quarter 2021 revenue of $24.4 million, up 7% from $22.7 million in the prior year. The pre-tax loss improved to ($0.7 million) from ($2.7 million) in Q1 2020. The increase in revenue is attributed to higher sales in the U.A.E. and projects in Saudi Arabia. Gross profit also rose to $4.5 million, representing 18% of net sales. Backlog increased by $6.3 million to $58.9 million, signaling recovery and project activity growth.
Perma-Pipe International Holdings (Nasdaq: PPIH) has secured a contract valued at over $4.5 million for a district heating and cooling network project in Eastern Canada. This project will implement Perma-Pipe's Multi-Therm® high temperature pre-insulated pipe system, featuring a galvanized and insulated steel carrier pipe within an insulated steel outer pipe protected by a fiberglass-reinforced jacket. Execution will commence in Q2 2021 at the Lebanon, Tennessee facility. The award reinforces Perma-Pipe's leadership in engineered piping solutions for healthcare infrastructure.
Perma-Pipe International Holdings (NASDAQ: PPIH) has completed a sale and leaseback deal with Nash88, LLC, generating $8.7 million in net proceeds. The transaction involves land and buildings in Lebanon, Tennessee, used for coating and fabricating district heating and cooling piping systems. Perma-Pipe will lease the facility for an initial fifteen years with an optional twenty-year extension. President and CEO David Mansfield stated the funds will be reinvested into growth opportunities amidst uncertain market conditions.