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Sep 30, 2022
Northwest Pipe Q3 2022 Earnings Report
Announced third quarter 2022 financial results.
Key Takeaways
Northwest Pipe Company reported a strong third quarter with net sales increasing by 45.3% to $123.0 million and gross profit increasing by 103.2% to $25.1 million compared to the same period last year. Net income was $10.0 million, or $0.99 per diluted share, while adjusted net income was $10.5 million, or $1.05 per diluted share.
Net sales increased 45.3% year-over-year to $123.0 million.
Gross profit increased 103.2% year-over-year to $25.1 million.
Net income was $0.99 per diluted share; adjusted net income was $1.05 per diluted share.
Backlog of $295 million; backlog including confirmed orders of $347 million for the Engineered Steel Pressure Pipe segment, a new quarterly record.
Northwest Pipe
Northwest Pipe
Northwest Pipe Revenue by Segment
Revenue by Segment
Precast Infrastructure and Engineered Systems Revenue
CapyFin.com Forward Guidance
The Company expects fourth quarter SPP revenue to be modestly lower and gross margins that are in-line with the third quarter of 2022.