---
title: "Perma-Pipe Reports Lower Q1 Profit, Shares Down"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/289210636.md"
description: "Perma-Pipe International Holdings reported a significant drop in Q1 2026 net income to $2.59 million from $5.85 million the previous year, despite higher net sales of $50.27 million. The decline was attributed to product mix changes and increased operating expenses. Consequently, earnings per share fell to $0.22 from $0.61. Following the report, shares on Nasdaq dropped 16.13% to $26.22."
datetime: "2026-06-09T15:15:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/289210636.md)
  - [en](https://longbridge.com/en/news/289210636.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/289210636.md)
generator: "portal-rs"
---

# Perma-Pipe Reports Lower Q1 Profit, Shares Down

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On Tuesday, Perma-Pipe International Holdings, Inc. (PPIH), a company specialized in pipes, reported significantly lower profit for the first quarter of 2026, despite higher net sales. 

On the Nasdaq, the shares were trading 16.13 percent lower at $26.22.

Net Income for the first quarter dropped to $2.59 million, from $5.85 million in the same quarter last year. The decline was attributable to the product mix across several jurisdictions, and higher expenses.

The operating expenses were $10 million, compared to the $8.84 million last year. 

Earnings per share went down to $0.22, from $0.61 in the prior year.

Net sales went up to $50.27 million, from $46.75 million in 2025. 

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**