Northwest Pipe Q1 net sales down 9.4% to $99.1M; EPS $0.23 vs $0.36 YoY

NWPX Infrastructure, Inc.

2023-Q1 EPS reported $0.23 revenue$99,097,000

Net sales $99.1M (-9.4% YoY); gross profit $16.6M (+12.1%); net income $2.4M ($0.23 diluted EPS) vs $3.6M ($0.36) Q1 2022.
SPP segment net sales $63.5M (-14.9%); gross margin 12.2% vs 9.6% due to $2.0M liability reserve reversal in prior year.
Backlog including confirmed orders $370M (near record), up from $341M a year ago; Precast order book $58M (-12% YoY).
Operating cash flow $26.3M (up from $1.6M); $61M revolver availability; capex $4.4M.
Precast segment net sales +2.7% to $35.6M; gross margin 24.7% vs 21.9% on better pricing.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NWPX Infrastructure, Inc. reported first quarter ended March 31, 2023 results: revenue $99.1 million, net income $2.4 million, or $0.23 per diluted share, EPS $0.23 per diluted share.

Period: first quarter ended March 31, 2023
Revenue: $99.1 million
Net income: $2.4 million, or $0.23 per diluted share
EPS: $0.23 per diluted share
Result: reported results

Exact text from the filing

EX-99.1 (EXHIBIT 99.1) --- EX-99.1 2 ex_497510.htm EXHIBIT 99.1 ex_497510.htm Exhibit 99.1 Northwest Pipe Company Announces First Quarter 2023 Financial Results • Net sales of $99.1 million decreased 9.4% year-over-year; Precast Infrastructure and Engineered Systems segment (“Precast”) net sales increased 2.7% year-over-year • Gross profit of $16.6 million increased

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Source: SEC EDGAR

accession 0001437749-23-012333

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