Perma-Pipe Q2 net sales $35.1M (-5% YoY); net income $1.0M vs $1.9M

Perma-Pipe International Holdings, Inc.

2023-Q2 EPS reported -$0.01 revenue$64,798,000

Net sales $35.1M, down from $37.0M in Q2 2022; gross profit $9.5M (27% of sales).
Income before taxes $2.1M vs $2.8M; effective tax rate 45.2% due to U.S. valuation allowance.
Backlog grew to $63.9M; Saudi JV commenced June 1; Eastern Canada expansion near completion.
One-time $0.5M tax expense from pension plan termination; project schedules slipped.
Net income attributable to common stock $1.0M (~$0.10 EPS) vs $1.9M in prior year.

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 0.9

Perma-Pipe International Holdings, Inc. reported financial results for second quarter ended July 31, 2023.

Period: second quarter ended July 31, 2023
Result: reported results

Exact text from the filing

On September 14, 2023, Perma-Pipe International Holdings, Inc. issued a press release announcing its financial results for its second quarter ended July 31, 2023.

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Source: SEC EDGAR

accession 0001437749-23-025921

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