Perma-Pipe Q2 net sales rise 24% to $59.6 million; EPS $0.31 vs. $0.10
Perma-Pipe reported second-quarter fiscal 2026 results for the period ended July 31, 2026, with net sales up 24.4% to $59.6 million and net income attributable to common stock of $2.5 million, or $0.31 per diluted share, versus $0.9 million, or $0.10, a year earlier. The quarter included a $3.9 million charge for an uncollectible customer receivable, and the company said net income would have been higher without it, while six-month net income attributable to common stock fell to $4.3 million from $5.8 million.
Key points
- Net sales rose to $59.6 million from $47.9 million; gross margin fell to 29.2% from 30.1%.
- Net income attributable to common stock was $2.5 million, or $0.31 per diluted share, including a $3.9 million receivable charge and a $1.6 million discrete tax benefit.
- Backlog was $142.3 million at July 31, 2026, up from $136.5 million at April 30, 2026.
- On August 25, 2026, the company entered into a new global credit agreement with JPMorgan that replaced its prior $18.0 million revolving facility.
The filing
Written by AI on Nov 9, 2026, 8:28 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 09, 2026.
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