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Perma-Pipe International Holdings, Inc. (PPIH) reported a 45.5% surge in its shares following the release of its first-quarter earnings for fiscal 2025 on April 30, 2025, significantly outperforming the S&P 500 index, which fell by 1% during the same period. The company posted earnings per share of 61 cents, a notable increase from 18 cents in the previous year, attributed to both volume growth and better project execution.
Net sales reached $46.7 million, up 36.2% from $34.3 million year-over-year, while net income attributable to common stock soared 243% to $5 million from $1.4 million. Gross profit also improved to $16.7 million, representing 36% of net sales, compared to 31% the prior year. The company’s backlog increased to $131.1 million, more than double the $63.1 million reported last year, highlighting a robust demand environment.
Management cited strong performance linked to increased sales volumes in the Americas and the MENA region, and emphasized a positive outlook for the remainder of fiscal 2025, backed by a solid sales pipeline and sustained market activities.
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