Perma-Pipe Reports 46.9% Increase in Q3 Net Sales to $61.1 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 12 2025
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Source: Newsfilter
- Significant Sales Growth: For the third quarter ended October 31, 2025, Perma-Pipe reported net sales of $61.1 million, an increase of $19.5 million or 46.9% compared to the same quarter last year, driven by strong demand in the Middle East and North America, indicating robust market performance.
- Substantial Net Income Increase: The company achieved a net income of $6.3 million for the quarter, up $3.8 million or 152.0% year-over-year, reflecting increased sales activity and improved project execution, which enhances the company's financial stability.
- Growing Backlog: As of October 31, 2025, the backlog reached $148.9 million, a 7.8% increase from $138.1 million on January 31, 2025, demonstrating the company's competitive strength and sustained customer demand in its markets.
- Annual Performance Exceeds Expectations: Year-to-date net sales totaled $155.8 million, a 37.4% increase from the prior year, indicating ongoing operational improvements and enhanced leverage in core markets, setting a solid foundation for future profitability growth.
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Analyst Views on PPIH
About PPIH
Perma-Pipe International Holdings, Inc. is a provider of pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. The Company is engaged in the manufacture and sale of products in a single segment: Piping Systems. The Company engineers, designs, manufactures and sells specialty piping systems and leak detection systems. Its specialty piping systems include insulated and jacketed district heating and cooling piping systems for efficient energy distribution from central energy plants to multiple locations; primary and secondary containment piping systems for transporting chemicals, hazardous fluids and petroleum products, the coating and/or insulation of oil and gas gathering and transmission pipelines, and liquid and powder based anti-corrosion coatings applied both to the external and internal surfaces of steel pipe. In total, the Company has operations at approximately 14 locations in six countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Perma-Pipe Reports 46.9% Increase in Q3 Net Sales to $61.1 Million
- Significant Sales Growth: For the third quarter ended October 31, 2025, Perma-Pipe reported net sales of $61.1 million, an increase of $19.5 million or 46.9% compared to the same quarter last year, driven by strong demand in the Middle East and North America, indicating robust market performance.
- Substantial Net Income Increase: The company achieved a net income of $6.3 million for the quarter, up $3.8 million or 152.0% year-over-year, reflecting increased sales activity and improved project execution, which enhances the company's financial stability.
- Growing Backlog: As of October 31, 2025, the backlog reached $148.9 million, a 7.8% increase from $138.1 million on January 31, 2025, demonstrating the company's competitive strength and sustained customer demand in its markets.
- Annual Performance Exceeds Expectations: Year-to-date net sales totaled $155.8 million, a 37.4% increase from the prior year, indicating ongoing operational improvements and enhanced leverage in core markets, setting a solid foundation for future profitability growth.
Continue Reading