Perma-Pipe reports FY net sales $158.4M, backlog doubles to $138.1M

Perma-Pipe International Holdings, Inc.

2025-Q1 EPS reported $0.61 revenue$46,747,000

Net sales FY2024 $158.4M (+$7.7M YoY); Q4 $45.0M (+$4.8M). Gross margin improved to 34% from 28%.
FY income before taxes $18.5M (+$8.6M); net income $9.0M (down $1.5M due to prior year tax benefit).
Backlog at Jan 31, 2025: $138.1M (+102% vs $68.4M). CEO cites large project awards and Qatar opportunities.
Saudi Arabia JV and new Canada facility show increased activity; effective tax rate 29.1% vs (33.6%).

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