Perma-Pipe International Holdings (PPIH) earnings
Perma-Pipe International Holdings earnings: last reported Wed, 9 Sep 2026, for the quarter ended Jul 2026.
Perma-Pipe International Holdings earnings callsPerma-Pipe International Holdings earnings calls (PPIH)
Perma-Pipe International Holdings Q2 FY27 — Strong Backlog, Strategic Expansion, and New Credit Facility
What went well
- Net sales increased 24% year-over-year to $59.6 million in Q2 FY26.
- Net income attributable to common stock grew to $2.5 million ($0.31 per diluted share) in Q2 FY26 from $0.9 million ($0.10 per diluted share) year-over-year.
- Backlog increased to $142.3 million at July 31, 2026, up from $121.6 million at January 31, 2026.
What to watch
- A $3.9 million charge related to an uncollectible accounts receivable balance was recorded in Q2 FY26.
- Gross profit margin slightly decreased to 29% in Q2 FY26 from 30% year-over-year, impacted by product mix and Ohio facility startup costs.
Performance +33.2% 1Y
1Y: $23.1 on 29 Sept 2025 → $30.76. High $35.29 (14 Apr 2026), low $22.44 (3 Oct 2025).
Quarterly results
Q3 FY26: revenue up 24.4%, net profit up 199.3% against the same quarter last year.
| Line item | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 42 | 45 | 47 | 48 | 61 +47% | 55 +23% | 50 +8% | 60 +24% |
| EBITDA | 6 | 5 | 8 | 3 | 11 +104% | 7 +28% | 5 −41% | 4 +33% |
| Net profit | 2 | 2 | 5 | 1 | 6 +154% | 5 +179% | 2 −64% | 3 +199% |
How to read this
US$ million, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Balance sheet
| Year ending | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|---|
| Equity capital | $82.0K | $82.0K | $80.0K | $80.0K | $80.0K | $81.0K |
| Reserves | -$8.36M | -$2.29M | $1.62M | $12.09M | $20.10M | $37.14M |
| Total liabilities | $53.38M | $68.94M | $65.18M | $90.00M | $93.10M | $126.85M |
| Fixed assets | $26.90M | $24.76M | $26.52M | $37.62M | $35.37M | $44.12M |
| Total assets | $102.69M | $123.40M | $122.97M | $155.71M | $165.24M | $217.49M |
How to read this
As filed on each reporting date, including interim balance sheets. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Insider filings
10 filings between Apr 10, 2026 and Jul 27, 2026.
Open market
decisions to buy or sellNobody bought or sold PPIH on the open market in this window. The filings below are 7 awards and 3 tax withholdings.
Compensation
not trading decisions- 7
- Award — granted as compensation
- 3
- Tax withheld — shares kept back by the company to cover tax
Latest filings (31)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Jul 27, 2026 | Lewicki Matthew Earl Chief Financial Officer | Tax withheld | 898 | $22.8K |
| Jun 25, 2026 | Lewicki Matthew Earl Chief Financial Officer | Tax withheld | 1,070 | $29.2K |
| Jun 24, 2026 | Alkuwari Ibrahim Director | Award | 2,648 | $0 |
| Jun 24, 2026 | Lewicki Matthew Earl Chief Financial Officer | Award | 6,716 | $0 |
| Jun 24, 2026 | Sagr Saleh Nehad Saleh President & CEO | Award | 21,509 | $0 |
| Jun 24, 2026 | Sherrill Richard Director | Award | 2,648 | $0 |
| Jun 24, 2026 | BIRO JON C Director | Award | 3,144 | $0 |
| Jun 24, 2026 | Zakhour Nancy Director | Award | 2,648 | $0 |
| Jun 22, 2026 | Lewicki Matthew Earl Chief Financial Officer | Tax withheld | 497 | $13.9K |
| Apr 10, 2026 | Zakhour Nancy Director | Award | 576 | $0 |
| Jul 25, 2025 | Mansfield David J Insider | Tax withheld | 6,349 | $152.5K |
| Jul 25, 2025 | Lewicki Matthew Earl Chief Financial Officer | Tax withheld | 601 | $14.4K |
| Jul 22, 2025 | Mansfield David J President & CEO | Tax withheld | 9,181 | $215.8K |
| Jun 25, 2025 | BIRO JON C Director | Award | 5,527 | $0 |
| Jun 25, 2025 | Brown David B Director | Award | 4,877 | $0 |
| Jun 25, 2025 | McNally Robert Joseph Director | Award | 4,877 | $0 |
| Jun 25, 2025 | Sagr Saleh Nehad Saleh President & CEO | Award | 29,259 | $0 |
| Jun 25, 2025 | Alkuwari Ibrahim Director | Award | 4,877 | $0 |
| Jun 25, 2025 | Lewicki Matthew Earl Chief Financial Officer | Award | 8,829 | $0 |
| Jun 24, 2025 | Lewicki Matthew Earl Chief Financial Officer | Tax withheld | 333 | $7.8K |
| Jun 22, 2025 | Lewicki Matthew Earl Chief Financial Officer | Tax withheld | 497 | $13.9K |
| Mar 10, 2025 | BIRO JON C Director | Award | 1,722 | $0 |
| Oct 1, 2024 | Boiter Cynthia Director | Sale | 600 | $7.7K |
| Oct 1, 2024 | Boiter Cynthia Director | Sale | 500 | $6.4K |
| Oct 1, 2024 | Brown David B Director | Sale | 180 | $2.3K |
| Oct 1, 2024 | Walker Jerome T. Director | Sale | 351 | $4.5K |
| Oct 1, 2024 | Brown David B Director | Sale | 500 | $6.4K |
| Oct 1, 2024 | Walker Jerome T. Director | Sale | 500 | $6.4K |
| Oct 1, 2024 | Brown David B Director | Sale | 600 | $7.7K |
| Oct 1, 2024 | Walker Jerome T. Director | Sale | 600 | $7.7K |
| Oct 1, 2024 | Boiter Cynthia Director | Sale | 180 | $2.3K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.