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

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

“Net sales for the second quarter 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%, compared to $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%, compared to the six months ended July 31, 2023. After taking into account the non-controlling interest, the resulting net income attributable to common stock of $4.7 million was an increase of $4.8 million, compared to a net loss of $(0.1) million in the six months ended July 31, 2023. This was the result of higher sales volumes and improved margin performance,” said President and CEO CEO David Mansfield.