Vancouver Washington headquartered leading US manufacturer of water related infrastructure including engineered pipeline systems and precast products Northwest Pipe Company has reported that net sales in April-June 2022 quarter increased by 61% YoY to USD 118.5 million while net income was USD 9.7 million as compared to USD 2.1 million in April-June 2021 quarter. Northwest Pipe Company President & Chief Executive Officer Mr Scott Montross said “The integration of ParkUSA is on schedule and we remain very excited about the potential of our newest acquisition. Our Precast business continued to be very strong during the second quarter, producing revenue of USD 41.4 million, a gross margin of 31.3% and a record order book that ended the quarter at nearly USD75 million. Despite some of the current economic headwinds, we expect the Precast business to remain strong for the near term.”Mr Montross added “Our Engineered Steel Pressure Pipe business continued to experience solid bidding and ended the second quarter with a strong backlog including confirmed orders of USD 338 million. While the first half of 2022 was projected to be the high-water mark for backlog, we expect it to remain fairly high compared to historical standards for the balance of the year. In the second quarter, our SPP business generated revenue of USD 77.1 million and gross margins of 14.4%. For the third quarter of 2022, our SPP business was on track to generate similar revenue and improving margins compared to the second quarter of 2022. However, recent severe weather events in late July and early August forced shutdowns at both Adelanto in California and St Louis in Missouri plants due to flooding which may adversely impact our revenue and margins if the shutdowns become extended. As such, we currently anticipate our third quarter SPP revenue could be down slightly from the second quarter of 2022 with gross margins that are flat to modestly higher.”Founded in 1966, Northwest Pipe Company is a leading manufacturer for water-related infrastructure products. In addition to being the largest manufacturer of engineered steel water pipeline systems in North America, the Company manufactures high-quality precast and reinforced concrete products; water, wastewater, and storm water equipment; steel casing pipe; bar-wrapped concrete cylinder pipe; and one of the largest offerings of pipeline system joints, fittings, and specialized components. Strategically positioned to meet growing water and wastewater infrastructure needs, Northwest Pipe Company provides solution-based products for a wide range of markets under the ParkUSA, Geneva Pipe and Precast, and Permalok lines. The Company is headquartered in Vancouver in Washington, and has 13 manufacturing facilities across North America.
Vancouver Washington headquartered leading US manufacturer of water related infrastructure including engineered pipeline systems and precast products Northwest Pipe Company has reported that net sales in April-June 2022 quarter increased by 61% YoY to USD 118.5 million while net income was USD 9.7 million as compared to USD 2.1 million in April-June 2021 quarter. Northwest Pipe Company President & Chief Executive Officer Mr Scott Montross said “The integration of ParkUSA is on schedule and we remain very excited about the potential of our newest acquisition. Our Precast business continued to be very strong during the second quarter, producing revenue of USD 41.4 million, a gross margin of 31.3% and a record order book that ended the quarter at nearly USD75 million. Despite some of the current economic headwinds, we expect the Precast business to remain strong for the near term.”Mr Montross added “Our Engineered Steel Pressure Pipe business continued to experience solid bidding and ended the second quarter with a strong backlog including confirmed orders of USD 338 million. While the first half of 2022 was projected to be the high-water mark for backlog, we expect it to remain fairly high compared to historical standards for the balance of the year. In the second quarter, our SPP business generated revenue of USD 77.1 million and gross margins of 14.4%. For the third quarter of 2022, our SPP business was on track to generate similar revenue and improving margins compared to the second quarter of 2022. However, recent severe weather events in late July and early August forced shutdowns at both Adelanto in California and St Louis in Missouri plants due to flooding which may adversely impact our revenue and margins if the shutdowns become extended. As such, we currently anticipate our third quarter SPP revenue could be down slightly from the second quarter of 2022 with gross margins that are flat to modestly higher.”Founded in 1966, Northwest Pipe Company is a leading manufacturer for water-related infrastructure products. In addition to being the largest manufacturer of engineered steel water pipeline systems in North America, the Company manufactures high-quality precast and reinforced concrete products; water, wastewater, and storm water equipment; steel casing pipe; bar-wrapped concrete cylinder pipe; and one of the largest offerings of pipeline system joints, fittings, and specialized components. Strategically positioned to meet growing water and wastewater infrastructure needs, Northwest Pipe Company provides solution-based products for a wide range of markets under the ParkUSA, Geneva Pipe and Precast, and Permalok lines. The Company is headquartered in Vancouver in Washington, and has 13 manufacturing facilities across North America.
