- Perma-Pipe International press release ( NASDAQ: PPIH ): Q2 GAAP EPS of $0.23.
- Revenue of $37M (-7.0% Y/Y).
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“These comparisons need to be considered in the context of the cyclical nature of our business. From a consolidated perspective, lower revenues versus the same quarter of 2021 were largely due to quarter to quarter variances in timing related to project schedules. Our backlog remains strong at $58.0 million compared to $39.3 million at January 31, 2022, much of which is scheduled to be executed in the second half of the year. Hence, we remain positive on our full year revenue outlook. Of note, our Canadian operations continue to benefit from a better than expected resurgence of the local oil and gas market, which we began to witness earlier in the year and expect to continue through the balance of the year and into 2023.” said President and CEO David Mansfield
For further details see:
Perma-Pipe International GAAP EPS of $0.23, revenue of $37M