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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.