PPIH News & Events

Perma-Pipe International provided a quarter-to-date update for the first quarter of 2026, highlighting continued momentum in project awards across North America and the Middle East and North Africa regions. The company announced approximately $54M in new project awards during the period, reflecting sustained demand across key infrastructure, energy, and mission-critical markets. "These project wins reflect the strength of our global platform and the disciplined execution of our growth strategy," said Saleh Sagr, President and CEO. "We are seeing increasing demand across both traditional energy infrastructure and next-generation applications such as AI-driven data centers. Our ability to respond with engineering expertise, manufacturing capacity, and localized capabilities positions us well to capture these opportunities and drive sustainable growth."

Reports Q4 revenue $55.1M vs. $45M last year. "Our fiscal 2025 results represent a landmark achievement for the Company. Total revenues of $210.9 million and net income attributable to common stockholders of $17.0 million mark our highest level of earnings in the Company's modern operating history, driven not only by strong top-line growth but also by improved margins. This record performance was driven by broad-based strength across our global footprint, with significant growth contributions from the Middle East and North America. Our ability to scale across these diverse markets while maintaining disciplined margin performance has enabled us to convert top-line momentum into meaningful bottom-line value for our shareholders. To sustain this trajectory, we have entered into a long-term lease for a new production facility in Ohio. This strategically located hub will serve as a primary logistics center for the Northeast and New England corridors, enabling us to localize production for our district heating and cooling offerings and capture additional regional market share. The region's favorable and flexible labor environment further enhances our operational agility. Supporting our long-term growth strategy, we also finalized a new credit facility with J.P. Morgan Chase. This agreement represents a watershed moment for the Company. We have standardized our borrowing platform globally at significantly improved terms. This transition optimizes our cost of capital while providing the liquidity necessary to support the next phase of our global expansion," said CEO Saleh Sagr. "With record earnings as our foundation and a modernized capital structure as our fuel, we enter the remainder of 2026 with strong confidence in our ability to scale our global operations and drive meaningful shareholder returns," Mr. Sagr concluded.

Perma-Pipe International announced the appointment of Nancy Zakhour and Saleh Sagr to its Board of Directors, effective April 8, 2026. Zakhour will serve as an independent director and a member of the Board's Audit, Compensation, and Nominating and Corporate Governance Committees. Sagr will serve as a director. Zakhour currently serves as Chief Commercial Officer at Clean Energy Services.

Perma-Pipe International announced a strategic expansion initiative focused on accelerating growth through entry into the U.S. Northeast region. President and CEO, Saleh Sagr said, "We are excited to announce the expansion of our operations with a new facility in the Northeast, set to become operational in the second quarter of 2026. This facility will primarily focus on serving the rapidly growing AI-driven data center market, as well as the District Heating and Cooling sector. This strategic move supports our commitment to organic growth and strengthens our position as a global leader in the technology infrastructure ecosystem. Our primary focus will be on capitalizing on the significant potential in these key markets, both domestically and internationally. Furthermore, we are currently seeking to secure a new global banking agreement to provide enhanced liquidity, flexible financing options and expanded access to capital to support further investments in our growth. Perma-Pipe remains fully committed to its operations throughout the MENA region. Despite ongoing regional conflicts our business operations have not been impacted. We have implemented comprehensive business continuity plans designed to mitigate potential risks and aim to ensure uninterrupted service to our customers and maintain operational stability and safety across all of our facilities. The rapid rise of artificial intelligence, cloud platforms and digital infrastructure is creating unprecedented demand for advanced data center solutions," said Sagr. "Our strategic focus on AI data centers positions Perma-Pipe to capitalize on these powerful global trends. In addition, we are pursuing diversification into new product lines within the industrial and water sectors across both North America and the MENA region to further expand our market reach and ensure long-term resilience. We are excited about the future and the opportunities ahead for Perma-Pipe, with strong market demand, a disciplined growth strategy, new financial partnerships and robust business continuity planning, we are well positioned to execute on our strategic vision and capture the significant opportunities emerging in AI infrastructure, next-generation data centers and diversified industrial markets." The board of directors of the company has concluded its process to explore strategic alternatives to maximize shareholder value publicly announced on September 15, 2025. The review evaluated a wide range of value creating alternatives and after evaluation and deliberation, in consultation with the company's legal and financial advisors, the board unanimously determined that continuing to execute on the company's strategic plan as an independent public company is the best way to maximize value for shareholders at this time.