PPIHPerma-Pipe International Holdings, Inc.
The schedule
- Thu15Oct
Ongoing trade policy formulation under President Trump introduces acute risks regarding steel tariffs and raw material inflation for piping systems.
- Mon14Dec
The Q3 earnings report serves as a critical checkpoint for backlog execution, contract conversion, and updated margins.
- Wed20Jan
Market evaluation of infrastructure capex and visibility into major district energy project awards across domestic and international segments.
- Thu18Mar
The Q4 print and initial FY27 guidance framework will dictate Perma-Pipe's forward profitability and growth trajectory.
- Wed23Jun
- Tue28Sep
Past
- Mon14Sep
Perma-Pipe's Q2 print will test the market's tolerance for margin compression, given trailing net income plummeted 63% despite a 7.5% revenue expansion.
- Tue9Jun
Actual outcome: Bear · $26.72 at outcome
Perma-Pipe reported Q1 2026 earnings that met EPS estimates at $0.22 and delivered a 7.5% increase in net sales to $50.3 million. Despite this top-line growth and an expanding backlog, the stock breached the bear floor as high operating costs, startup expenses, and project delays drove a significant year-over-year decline in earnings.
- Thu30Apr
Actual outcome: Bear · $30.69 at outcome
Perma-Pipe reported EPS of $0.78, exactly meeting estimates, following a strong prior quarter that featured 22% year-over-year sales growth. However, despite record revenues, the company's order backlog showed a sequential decline. Trading at an elevated multiple near its 52-week high, the stock sold off as the backlog contraction raised concerns about the sustainability of its recent hyper-growth, driving shares down 6.2% by the outcome date and eventually below the $29 bear floor.
Q1 FY26 results on 2026-04-30 will test whether Perma-Pipe can sustain its recent 47% revenue growth and 150%+ net income growth while the stock trades at $34.66, essentially at its 52-week high and on an elevated 20x P/E multiple.