Perma-Pipe FY26 Q2 net income attributable to common stock rises to $2.5 million; net sales increase 24.4% to $59.6 million
PPIH•Quarterly results and margins
Perma-Pipe reported Q2 fiscal 2026 net sales up 24.4% to $59.6 million.
Net income attributable to common stock more than doubled to $2.5 million; diluted EPS rose to $0.31.
Gross margin narrowed 0.9 percentage points to 29.2%, due to higher materials and logistics costs and Ohio ramp-up costs.
Backlog and operational developments
Backlog climbed to $142.3 million; Q2 awards exceeded $67 million.
Operations ramped at the new Ohio facility; Qatar expansion underway, with an MoU signed to form a Jordan joint venture.
