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Perma-Pipe International Holdings PPIH Q2 2026 earnings

Reported September 15, 2025 · Before market open

Revenue$47.9MDiluted EPS$0.10

Next report

Sep 9, 2026 (in 2 months)
Revenue estimate$51.2M
EPS estimate$0.48

Financials

Q2 2026

Income statement

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Revenue$47.9M+27.7%
Gross profit$17.4M+30.5%
Operating income$7.4M+45.1%
Net income$4.3M+89.6%
EPS (diluted)$0.52+86.6%

Balance sheet

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Cash & equivalents$17.3M+82.5%
Total debt$16.6M-0.5%
Total equity$80.2M+16.9%
Total assets$189.0M+18.7%

Cash flow

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Operating cash flow-$2.0M-172%
CapEx$2.6M+296%
Free cash flow-$4.6M-311%

Valuation & ratios

Valuation

as of 07/31/25
See full
Market cap$176.89M+136%
Enterprise value$176.22M+114%
P/E13.6×+9.3×
P/S1×+0.5×

Profitability

See full
Gross margin33.9%—
Operating margin13.7%—
Net margin7.2%-4.0pp
FCF margin2.6%-2.7pp

Returns & leverage

See full
Return on equity17.5%-10.5pp
Debt / equity0.2×0.0×
Current ratio1.9×+0.1×

Segments

By geography

See full
US$14.9M+13.5%
CA$12.0M+46.8%
AE$11.8M+98.2%
SA$11.3M+20.5%
Other Geographical Area$2.6M-9.0%

By product

See full
Specialty Piping Systems And Coating$31.5M+42.4%

Versus estimates

Revenue

Q1 2027$50.3MMiss by $3.7MQ4 2026$55.1MBeat by $129.0KQ3 2026$61.1MBeat by $6.1M
Q2 2026$47.9M
Q1 2026$46.7MQ4 2025$45.0M

Diluted EPS

Q1 2027$0.22Miss by $0.26Q4 2026$0.60Beat by $0.16Q3 2026$0.77
Q2 2026$0.10
Q1 2026$0.61Q4 2025$0.27

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Questions, answered.

When did Perma-Pipe International Holdings report Q2 2026 earnings?
Perma-Pipe International Holdings (PPIH) reported Q2 2026 earnings on September 15, 2025 before market open.
What were Perma-Pipe International Holdings's Q2 2026 revenue and EPS?
Perma-Pipe International Holdings reported revenue of $47.9M and diluted EPS of $0.10 for Q2 2026.
How did Perma-Pipe International Holdings's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 27.7% from $37.5M a year earlier and diluted EPS declined 75.0% from $0.40.
Where can I find Perma-Pipe International Holdings's Q2 2026 SEC filings?
You can read the 10-Q periodic report (0001437749-25-029017) directly on SEC EDGAR. The filing index links above go to sec.gov.