Perma-Pipe International Holdings, Inc. (PPIH) Q2 FY2026 earnings

Reported results

• Net sales increased 24% year-over-year to $59.6 million (GAAP)
• Gross profit increased 21% to $17.4 million (GAAP), with gross margin of 29.2%
• Net income attributable to common stock increased to $2.5 million or $0.31 per diluted share (GAAP), compared to $0.9 million or $0.10 per diluted share in the prior-year quarter
• Income from operations was $4.3 million (GAAP) compared to $3.2 million in the prior-year quarter
• Adjusted income before tax was $8.3 million (non-GAAP) compared to $4.9 million in the prior-year quarter
• Backlog was $142.3 million at July 31, 2026, with more than $67 million in new orders secured during the second quarter

Notes

Q2 2026 net income attributable to common stock includes a $3.9 million receivable provision related to an uncollectible account receivable and a $1.6 million discrete tax benefit. The company’s effective tax rate was approximately 16% compared to 54% in the prior-year quarter. Six-month adjusted income before tax (non-GAAP) was $12.5 million compared to $12.3 million in the same period last year.

Price and volatility reaction

Source

The figures above come from the earnings release the company filed with the SEC on 2026-09-09 (8-K, Item 2.02). Read the original filing on sec.gov.