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Jun 30, 2020
Northwest Pipe Q2 2020 Earnings Report
Reported a gross profit increase of 57.7% year-over-year and net income of $0.61 per diluted share.
Key Takeaways
Northwest Pipe Company announced its financial results for the second quarter ended June 30, 2020. Net sales increased 1.1% to $70.0 million. Gross profit increased 57.7% to $13.0 million. Net income was $6.0 million, or $0.61 per diluted share.
Gross profit of $13.0 million increased 57.7% year-over-year
Net income of $0.61 per diluted share; adjusted net income of $0.45 per diluted share
Restarted production at the Company’s San Luis Río Colorado facility in June; all facilities are now operating through the COVID-19 pandemic
Settled insurance claims associated with the fire at the Company’s Saginaw facility in April 2019
Northwest Pipe
Northwest Pipe
Forward Guidance
Due to the complex nature of the impact of COVID-19 on the economy, it is difficult to make forward-looking projections on our revenue and margins though we firmly believe the structure of our business remains solid.