Perma-Pipe Reports Lower Q1 Profit, Shares Down

(RTTNews) - On Tuesday, Perma-Pipe International Holdings, Inc. (PPIH), a company specialized in pipes, reported significantly lower profit for the first quarter of 2026, despite higher net sales.

On the Nasdaq, the shares were trading 16.13 percent lower at $26.22. Net Income for the first quarter dropped to $2.59 million, from $5.85 million in the same quarter last year. The decline was attributable to the product mix across several jurisdictions, and higher expenses.

The operating expenses were $10 million, compared to the $8.84 million last year.

Earnings per share went down to $0.22, from $0.61 in the prior year.

Net sales went up to $50.27 million, from $46.75 million in 2025.