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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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.