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Sep 30, 2020
Northwest Pipe Q3 2020 Earnings Report
Reported solid revenue and a gross profit margin that exceeded 20%.
Key Takeaways
Northwest Pipe Company announced its Q3 2020 financial results with net sales increasing by 3.2% to $77.6 million. The company reported a gross profit of $15.6 million and a gross profit margin of 20.1%. Net income was $7.3 million, or $0.73 per diluted share, and adjusted net income was $7.7 million, or $0.78 per diluted share.
Gross profit of $15.6 million and gross profit margin of 20.1%
Strong backlog of $143 million; $231 million including confirmed orders representing the ninth consecutive quarter over $200 million
Net income of $0.73 per diluted share; adjusted net income of $0.78 per diluted share
Net sales of $77.6 million, the highest quarterly net sales since the first quarter of 2013
Northwest Pipe
Northwest Pipe
Forward Guidance
Due to customer driven project delays, we expect fourth quarter revenues and the resulting gross profit margin to be lower than the third quarter. However, as we look into 2021, the structure of our business remains strong.
Positive Outlook
- The structure of our business remains strong as we look into 2021.
Challenges Ahead
- We expect fourth quarter revenues and the resulting gross profit margin to be lower than the third quarter due to customer driven project delays.