Perma-Pipe International Holdings, Inc. Announces Second Quarter Financial Results

Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) today announced financial results for its second quarter and fiscal year to date ended July 31, 2024.

“Second quarter net sales were $37.5 million, an increase of $2.4 million compared to the same quarter last year. Net income attributable to common stock of $3.3 million was an increase of $2.3 million, or 222%, from $1.0 million in the second quarter of 2023. For the six months ended July 31, 2024, net sales of $71.8 million represented an increase of 11% from the six months ended July 31, 2023. After adjusting for non-controlling interests, the resulting net income attributable to common stock of $4.7 million was an increase of $4.8 million from a net loss of $(0.1) million for the six months ended July 31, 2023. This was the result of increased sales volumes and improved margin performance,” noted President and CEO David Mansfield.