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Sep 30, 2024
Northwest Pipe Q3 2024 Earnings Report
Reported financial results for the third quarter ended September 30, 2024.
Key Takeaways
Northwest Pipe Company announced its Q3 2024 financial results, with SPP revenues remaining near record levels and improved gross margins. The Precast business achieved record third quarter revenue and improved gross margins.
SPP revenues remained near record levels with improved gross margins.
SPP backlog including confirmed orders dipped to $282 million due to timing of job awards, mix in backlog, and lower steel prices.
Precast business achieved record third quarter revenue.
Precast gross margins improved over the prior quarter.
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 the fourth quarter for the SPP business to be stronger and the Precast business to continue to perform well with stable margins. Overall, they are optimistic about finishing the year strong.