Perma-Pipe Reports Record Q4 and FY2025 Results with Net Sales Up 33% and Net Income Up 89%

Perma-Pipe International Holdings, Inc.

Net sales for FY2025 increased 33.1% to $210.9 million from $158.4 million prior year.
Net income attributable to common stock rose 88.9% to $17.0 million, or $2.09 per diluted share.
Backlog stood at $121.6 million as of January 31, 2026, reflecting strong conversion to revenue.
Company entered into a long-term lease for a new production facility in Ohio for AI data centers and finalized a new credit facility with J.P. Morgan Chase.
One-time charges of $2.0 million related to departure of previous CEO and $1.0 million for Sarbanes-Oxley compliance.

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