NWPX Infrastructure beats Q2 sales estimates, says Q3 could be better
NWPX•Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Sales | Beat | $159.48 mln | $154.71 mln (3 Analysts) |
| Q2 Net Income | $15.83 mln | ||
| Q2 Gross Profit | $34.36 mln | ||
| Q2 Operating Income | $21.15 mln | ||
| Q2 Pretax Profit | $21.48 mln |
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the iron & steel peer group is "buy."
Wall Street's median 12-month price target for NWPX Infrastructure Inc is $108.00, about 14.5% below its July 28 closing price of $126.25.
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 18 three months ago.
Segment drivers behind the results
- Water Transmission Systems volume and pricing - Growth in the segment was driven by a 26% increase in tons produced from project timing and 6% higher selling prices due to product mix.
- Operational efficiency - WTS gross profit rose on increased volume, operational efficiency gains, and favorable project pricing and product mix.
- Weather and project delays - Precast segment sales and profit fell due to heavy rainfall in Texas and customer-driven project delays in Utah during April and May.
