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News

07/15 17:17 EST - businesswire.com
Perma-Pipe International Holdings, Inc. Announces $10 Million in Contract Awards in Saudi Arabia
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has recently been awarded new contracts worth $10 million in Saudi Arabia. Most of these awards will be executed and delivered during the next quarter. The newly awarded projects are part of major infrastructure developments in Riyadh, Madinah, and Mekkah in Saudi Arabia. These projects will utilize Perma-Pipe's fabrication and coating capabilities, and the XTRU-THERM® insulation system, a.

06/14 13:40 EST - zacks.com
Perma-Pipe's (PPIH) Q1 Earnings Surge Y/Y on Strong Sales
Perma-Pipe (PPIH) reports Q1 EPS of 18 cents, reversing last year's loss. Strong backlog and market expansion bolster future outlook despite higher operating expenses.

06/13 09:24 EST - businesswire.com
Perma-Pipe International Holdings, Inc. Announces First Quarter Fiscal 2024 Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the first quarter ended April 30, 2024. “Revenues for the first quarter were $34.3 million, an increase of $4.6 million or 15%, as compared to the same quarter last year, and net income attributable to common stock of $1.4 million was an increase of $2.5 million or 227%, as compared to a net loss of $(1.1) million in the same quarter of 2023. Our first quarter results dem.

05/28 10:46 EST - zacks.com
How to Invest in Microcaps with Lumpy Revenue
Evaluating microcaps with lumpy revenue requires more valuation effort. Here we highlight two companies which demonstrates this more rigorous process.

05/17 08:21 EST - zacks.com
Zacks Initiates Coverage of PERMA-PIPE With Outperform Recommendation
Discover why Zacks rates "Outperform" for PERMA-PIPE, being the first on Wall Street to initiate coverage on the stock. Explore PPIH's strategic role in Qatar's LNG expansion and robust financial growth, amid the thriving global steel pipes market.

04/26 09:26 EST - businesswire.com
Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2023 Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2023 Financial Results.

01/03 18:39 EST - businesswire.com
Perma-Pipe International Holdings announces acceptance into QatarEnergy's Tawteen Program
SPRING, Texas--(BUSINESS WIRE)--PERMA-PIPE International Holdings, Inc (Nasdaq: PPIH) today announces its acceptance into QatarEnergy's Tawteen program. Tawteen is the Supply Chain Localization Program for the energy sector in Qatar led by QatarEnergy. PERMA-PIPE will aim to provide pre-insulated piping systems, custom fabrication and 3-layer polyethylene coatings for QatarEnergy projects. Saleh Sagr, Senior Vice President for PERMA-PIPE's MENA region commented, “We are pleased to announce and.

12/08 09:52 EST - businesswire.com
Perma-Pipe International Holdings, Inc. Announces its Third Quarter Fiscal 2023 Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the third quarter ended October 31, 2023. “Revenues for the third quarter were $45.7 million, an increase of $7.8 million versus the same quarter last year, and an increase of 30% over those arising in the previous quarter this year. The resulting income from operations of $4.9 million exceeded the $2.9 million earned in the same quarter of 2022 and represents over 70% of.

10/02 14:07 EST - businesswire.com
Perma-Pipe International Holdings Announces the Appointment of Matthew Lewicki as Vice President and Chief Financial Officer, Secretary and Treasurer
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced the appointment of Matthew Lewicki to Vice President and Chief Financial Officer, Secretary and Treasurer (“CFO”) replacing long time financial executive D. Bryan Norwood who informed the Board of his intention to retire effective October 2, 2023. As CFO, Matthew is charged with leadership, oversight and execution of all PPIH financial matters and will serve as a key business advisor to the se.

09/28 17:54 EST - businesswire.com
Perma-Pipe International Holdings, Inc., announces opening of a new state-of-the-art insulation facility in Canada
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is pleased to announce the opening of its second pipe insulating facility in Canada. Strategically located outside of Ottawa, Ontario the new plant will focus primarily on serving the Ontario, Quebec, and Atlantic Canada markets. With the support of our existing plant in Camrose, Alberta, Perma-Pipe is well positioned to provide our valued customers across Canada with top-quality insulation systems. The new 3.

09/19 17:52 EST - businesswire.com
Perma-Pipe International Holdings Appoints Chuck Heaton as Vice President of Human Resources
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced the appointment of Chuck Heaton to Vice President of Human Resources replacing Jill Curry. Chuck is charged with providing Human Resources strategy and leadership in developing and shaping key core competencies within PPIH that support the continuing growth of the company's business globally. These key core competencies include organizational design, talent management, succession planning, wor.

09/14 19:05 EST - businesswire.com
Perma-Pipe International Holdings, Inc. Announces its Second Quarter Fiscal 2023 Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the second quarter ended July 31, 2023. “Revenues for the second quarter were $35.1 million, a decrease of $1.9 million versus the same quarter last year. The resulting income from operations of $2.7 million was below the $3.3 million earned in the same quarter of 2022. Note that the results for this quarter however included a non-operating one-time tax expense of $0.5 mi.

09/07 11:08 EST - businesswire.com
Perma-Pipe International Holdings, Inc. announces $8.5 million in contract awards in India and Saudi Arabia
SPRING, Texas--(BUSINESS WIRE)--PERMA-PIPE International Holdings, Inc. (Nasdaq: PPIH) today announces the award of contracts with a combined value of $8.5 million in India and the Kingdom of Saudi Arabia. The contracts are for the XTRU-THERM® product. Both projects are scheduled to be delivered by the end of Q4 2023. Saleh Sagr, Senior Vice President for PERMA-PIPE's MENA region, commented: ”We are thrilled to maintain our market position as the leading provider of preinsulated piping technolo.

09/06 09:28 EST - businesswire.com
Perma-Pipe International Holdings Announces Contract Awards in Excess of $23 Million
SPRING, Texas--(BUSINESS WIRE)--PERMA-PIPE International Holdings, Inc., (Nasdaq: PPIH) today announces the award of contracts with a combined value of $23.5 million in the United Arab Emirates and Egypt. The contracts are for custom coatings in the oil & gas sector as well as the XTRU-THERM® product in the district heating and cooling sector. Saleh Sagr, Senior Vice President for PERMA-PIPE's MENA region, comments, “I am delighted to announce these project awards. In Egypt, it is further c.

06/14 09:00 EST - businesswire.com
Perma-Pipe International Holdings, Inc. Announces its First Quarter Fiscal 2023 Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the first quarter ended April 30, 2023. “Revenues for the first quarter were $29.7 million, a decrease of $1.5 million versus the same quarter last year. The resulting income from operations of $0.1 million was comparable to the $0.2 million earned in the same quarter of 2022," noted President and CEO David Mansfield. "After a significant amount of new awards in the quart.

04/27 16:05 EST - businesswire.com
Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2022 Financial Results
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the fourth quarter and 2022 fiscal year ended January 31, 2023. "Revenues for the fourth quarter were $36.4 million, $2.7 million below the same quarter last year, and net income of $3.2 million was an increase of $0.2 million compared to the same quarter of 2021. For the year ended January 31, 2023, revenues of $142.6 million were $4.0 million higher than the prior year.

04/17 16:40 EST - businesswire.com
Perma-Pipe International Holdings announces contract awards in excess of $8 million
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has been awarded two contracts with a combined value in excess of US$8 million. The first is to provide insulated piping for a thermal distribution system on the campus of Fanshawe College in London, Ontario, Canada. The contract is to supply Perma-Pipe’s XTRU-THERM® thermally insulated piping system. Grant Dewbre, COO and Senior Vice President for Perma-Pipe’s Americas region stated, “We are excited to be working for Fanshawe College and EllisDon and we thank them for placing their trust in us, and we expect to exceed their expectations.” In addition, today Perma-Pipe International Holdings, Inc. announced its subsidiary, Perma-Pipe Middle East LLC, has been awarded contracts by China Petroleum & Chemical Corporation (Sinopec) for the provision of thermally insulated pipe and field joints for a project in Uganda. This project will feed the East African Crude Oil Pipeline (EACOP) transporting oil to the coast in Tanzania. The project will utilize Perma-Pipe’s XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing. The projects will begin execution in Perma-Pipe’s new facility in Abu Dhabi, UAE in Q3 2023. Saleh Sagr, Senior Vice President for Perma-Pipe’s MENA region commented, “I am glad to announce that this important project has been assigned to Perma-Pipe. We have recently announced the opening of the new plant in Abu Dhabi and obtaining this award is an excellent start. It demonstrates the need for a plant that is well positioned to serve export markets as well as oil and gas projects locally in the UAE and neighboring countries.” David Mansfield, President and CEO commented, “We are pleased to be chosen by EllisDon and Fanshawe College to be a part of this infrastructure project and to provide our district cooling and heating piping system to the Canadian market.” "We are also delighted with the Uganda project, and the opportunity to participate in this significant investment program. We are proud to be partnering with Sinopec so that we can demonstrate our expertise and our industry-leading products and services from our new, high-capacity state-of-the-art facility.” Perma-Pipe International Holdings, Inc. Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries. Forward-Looking Statements Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Company’s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (ix) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (x) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Company’s backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related to the Company's international business operations; (xvii) the Company’s ability to attract and retain senior management and key personnel; (xviii) the Company’s ability to achieve the expected benefits of its growth initiatives; (xix) the Company’s ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s percentage-of-completion revenue recognition; (xxii) the Company’s failure to establish and maintain effective internal control over financial reporting; and (xxiii) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com).

04/06 17:00 EST - businesswire.com
Perma-Pipe International Holdings Inc. Announces $6.5 Million in Project Awards in India
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced its subsidiary Perma-Pipe India Pvt. Ltd. (Perma-Pipe India) has been awarded approximately $6.5 million in contracts during the first quarter of 2023. Two major projects will begin execution in Perma-Pipe’s Gandhidham, Gujarat, India facility in the first and second quarter of 2023. Reliance New Solar Energy Limited awarded Perma-Pipe India for the provision of thermally insulated pipe and field joints for a chilled water network on the 10 GW solar cell and module factory in Jamnagar, Gujarat. The project will utilize Perma-Pipe’s XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing. Prior to application of the insulation system, an anti-corrosion liquid epoxy coating system will be applied to the pipes as well as installing Perma-Pipe’s own PermAlert® leak detection system. In addition, Megha Engineering & Infrastructures Ltd. awarded Perma-Pipe India for the provision of thermally insulated pipe and field joints for a heat-traced application on the ABNP - Cairn Project, Rajasthan. The project will utilize Perma-Pipe’s TRACE-THERM™ insulation system which is designed to ensure optimum heat management during the life of the pipeline. The system will have welded tracer tubes for heat tracing and spray-applied polyurethane foam jacketed with a high-density polyethylene casing. Prior to application of the insulation system, an anti-corrosion fusion bonded epoxy coating will be applied internally and externally using Perma-Pipe’s custom coating facility. Saleh Sagr, Sr. Vice President for Perma-Pipe’s MENA region states, “We are pleased to see customers repeating business with us and look forward to serving Reliance New Solar Energy and Megha Engineering on these projects. It is encouraging to see continued opportunities in the Indian market.” David Mansfield, President and CEO commented, “We are delighted with both of these awards, and that customers return to place their trust in Perma-Pipe to deliver their projects. It is also satisfying to see that the strategic decision to install a custom coating plant in India was the right one.” Perma-Pipe International Holdings, Inc. Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries. Forward-Looking Statements Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Company’s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (ix) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (x) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Company’s backlog; (xv) the Company's ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related to the Company's international business operations; (xvii) the Company’s ability to attract and retain senior management and key personnel; (xviii) the Company’s ability to achieve the expected benefits of its growth initiatives; (xix) the Company’s ability to interpret changes in tax regulations and legislation; (xx) the Company's ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s percentage-of-completion revenue recognition; (xxii) the Company’s failure to establish and maintain effective internal control over financial reporting; and (xxiii) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com).