Perma-Pipe International Holdings, Inc. Q2 2026 Earnings Recap

Perma-Pipe delivered higher second-quarter sales and earnings, but the roughly flat market reaction (+0.9%) suggests investors viewed the update as broadly in line rather than a clear upside surprise. Results included a $3.9 million uncollectible receivables charge, partly offset by a $1.6 million tax benefit.

Key Takeaways

• Net sales increased 24% year over year to $59.6 million.
• Net income attributable to common stock rose to $2.5 million, or approximately $0.31 per diluted share, versus $0.9 million, or $0.10 per share, in the prior-year quarter.
• Backlog reached $142.3 million at quarter-end, up from $121.6 million at the end of fiscal 2025.
• The quarter included a $3.9 million charge tied to an uncollectible accounts receivable balance; a related $1.6 million tax benefit partially offset the impact.
• The Ohio facility became operational and ramped production, while the Qatar facility also ramped production to support North American and MENA growth.