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Jun 30, 2023
Northwest Pipe Q2 2023 Earnings Report
Announced Q2 2023 financial results with SPP business rebounding and Precast business delivering solid performance.
Key Takeaways
Northwest Pipe Company reported its Q2 2023 financial results, with the SPP business showing a rebound and the Precast business maintaining a good performance. The SPP backlog including confirmed orders declined to $343 million.
Backlog of $292 million; backlog including confirmed orders of $343 million for the Engineered Steel Pressure Pipe segment.
Precast business delivered $39.1 million in revenue and gross margins of 25.3%.
SPP business rebounded producing $77.3 million of revenue and gross margins of 16.3%.
Starting in the second quarter, SSP revenue is expected to remain at a higher level similar to 2022, but with improved gross margins.
Revenue by Segment
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Avg. Return Before/After Earnings
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