Perma-Pipe Q2 sales up 27.7% to $47.9M; initiates strategic alternatives review

Perma-Pipe International Holdings, Inc.

2025-Q2 EPS reported $0.72 revenue$94,648,000

Net sales $47.9M (up 27.7% YoY); backlog $157.8M (up 109% YoY from July 2024).
Net income $0.9M vs $3.3M; includes $2.1M one-time charge for former CEO departure.
Gross profit $14.4M (up from $13.5M); G&A $10.0M (up from $6.0M) driven by one-time charge.
Board authorized strategic alternatives review; Energy Capital Solutions and Gray Reed as advisors.
Filer status changes to accelerated filer for FY2026 as public float exceeds $75M.

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