Perma-Pipe Q1 sales $46.7M, net income $5.0M, backlog doubles YoY to $131.1M

Perma-Pipe International Holdings, Inc.

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

Net sales $46.7M, up 36% YoY from $34.3M; net income attributable to common stock $5.0M (+243% vs $1.4M).
Income before taxes $7.4M vs $2.6M; gross margin improved to 36% from 31% on better product mix.
Backlog $131.1M at April 30, 2025, up 108% from $63.1M a year ago; down 5% from $138.1M at Jan 31.
Record Q1 performance since 2017; management cites strength in Americas and MENA regions.

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