Welcome to our dedicated page for Perma Pipe SEC filings (Ticker: PPIH), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Perma-Pipe International Holdings, Inc. files SEC reports that document financial results, material agreements, governance changes, and operational updates for its engineered piping infrastructure business. Recent Form 8-K disclosures cover quarterly and annual results, Regulation FD communications, and exhibits tied to press releases on project activity and facility investments.
The company's filings also record capital-structure and liquidity matters, including an asset-based revolving credit facility, as well as board appointments, director independence, committee assignments, and director resignations. These disclosures frame Perma-Pipe's public-company reporting around operating performance, financing arrangements, and corporate governance.
Perma-Pipe International Holdings is asking stockholders to elect five directors, approve 2026 executive pay on an advisory basis, and ratify PwC as independent accountant, while highlighting a year of record performance. For fiscal 2025, net sales reached $210.9 million, up 33% from $158.4 million in 2024, driven by demand in the Middle East and North America. Net income attributable to common stock rose to $17.0 million from $9.0 million, an 89% increase, marking a record year. Year-end backlog was $121.6 million, supporting future revenue. The company is expanding U.S. operations with a new Ohio facility focused on the fast-growing AI data center market and continues to emphasize diversified growth in Middle Eastern infrastructure and water security projects. Governance changes include a fully refreshed independent board since 2024, majority voting in uncontested elections, stock ownership guidelines, a robust clawback policy, and restrictions on hedging and short sales. A Willis Towers Watson review found executive total direct compensation about 39% below the market median, and the board expects to implement average executive base salary increases of roughly 10% in 2026 under a pay-for-performance framework.
Perma-Pipe International Holdings, Inc. reported record fourth-quarter and fiscal 2025 results for the year ended January 31, 2026, driven by strong demand in the Middle East and North America. Fourth-quarter net sales rose to $55.1 million, up $10.1 million or 22.4%, while net income attributable to common stock increased to $4.9 million and diluted EPS reached $0.60.
For the full year, net sales grew 33.1% to $210.9 million and net income attributable to common stock nearly doubled to $17.0 million, with diluted EPS of $2.09. Gross profit expanded to $69.5 million, and the effective tax rate improved to 24.9%. Backlog was $121.6 million, and stockholders’ equity increased to $90.6 million, reflecting a stronger balance sheet.
Perma-Pipe International Holdings reported strong growth for the year ended January 31, 2026, driven by higher project activity in the Middle East, Canada, and the United States. Net sales rose to $210.9 million from $158.4 million, while gross profit increased to $69.5 million, or 33% of net sales.
Net income attributable to common stock nearly doubled to $17.0 million, helped by higher volumes and a lower 24.9% effective tax rate. Backlog was $121.6 million versus $138.1 million a year earlier, mainly due to converting orders into revenue and timing of new awards.
Liquidity remained solid, with $18.7 million in cash, $66.9 million of working capital, and access to North American and foreign credit facilities. The company generated $9.2 million of operating cash flow and increased capital spending, particularly in the Middle East, while continuing to rely heavily on international sales, which were 71.7% of total.
The auditor issued an adverse opinion on internal control over financial reporting, citing several material weaknesses, though the financial statements were given a clean opinion. Management is investing in remediation, reinforcing controls, and enhancing cybersecurity, while operating a 909-person workforce across North America, the Middle East, and other international locations.
Perma-Pipe International Holdings entered into a new senior secured, asset-based revolving credit facility with JPMorgan Chase Bank, N.A., providing aggregate revolving commitments of $18.0 million, including a $1.5 million sublimit for letters of credit.
The facility is secured by substantially all assets of the company and certain subsidiaries and matures on October 7, 2027. Borrowing availability is based on 80% of eligible accounts receivable plus 25% of eligible inventory, and loans bear interest at a CB Floating Rate or adjusted term SOFR plus a leverage-based margin, with additional commitment fees on unused commitments and customary covenants and events of default.
Zakhour Nancy reported acquisition or exercise transactions in this Form 4 filing.
Perma-Pipe International Holdings, Inc. director Nancy Zakhour received a grant of 576 shares of Common Stock as compensation for her services as an independent director. The shares were awarded at $0.00 per share, and she now directly owns 576 shares following this transaction.
Perma-Pipe International Holdings, Inc. director Nancy Zakhour has filed an initial Form 3 ownership report. The filing lists her as a director of the company but does not report any insider share purchases, sales, or other transactions. This is an administrative disclosure establishing her reporting status under insider ownership rules.
Perma-Pipe International Holdings Inc: Dimensional Fund Advisors filed Amendment No. 14 to a Schedule 13G/A reporting beneficial ownership of 388,193 shares of Common Stock, representing 4.8% of the class. The filing shows 384,879 shares with sole voting power and states the shares are owned by managed Funds; Dimensional disclaims beneficial ownership.
Perma-Pipe International Holdings, Inc. is expanding its Board of Directors by appointing Nancy Zakhour as an independent director and CEO Saleh Sagr as a director, both effective April 8, 2026. Zakhour will also join the Audit, Compensation, and Nominating and Corporate Governance Committees.
Zakhour, age 37, is Chief Commercial Officer at Clean Energy Services and a Venture Partner at Ascent Energy Ventures, with prior roles at Piper Sandler and Occidental Petroleum focused on low‑carbon and carbon capture projects. Sagr, age 56, has served as President and CEO since June 2025 after leading Perma-Pipe’s international operations, bringing more than 30 years of pipeline coating and industrial manufacturing experience.
Perma-Pipe International Holdings, Inc. outlined a growth strategy centered on a new U.S. Northeast facility expected to be operational in the second quarter of 2026. The site will primarily serve AI-driven data centers and district heating and cooling customers, supporting the company’s focus on next-generation technology infrastructure.
The company reaffirmed that its Middle East and North Africa operations remain fully functional despite regional conflicts, supported by business continuity plans aimed at maintaining stable service and safety. It is also seeking a new global banking agreement to enhance liquidity and financing flexibility for further investments.
The Board of Directors completed its previously announced review of strategic alternatives and unanimously decided that continuing as an independent public company and executing the current strategic plan is the best path to maximize shareholder value at this time.
Perma-Pipe International Holdings, Inc. reported a change in its board of directors. On January 15, 2026, director David B. Brown informed the Board of his resignation, effective immediately.
The company stated that Mr. Brown’s decision to step down was not due to any disagreement with the Board, the company, or management on matters related to operations, policies, or practices. The filing was signed on behalf of Perma-Pipe by Vice President and Chief Financial Officer Matthew E. Lewicki.