Perma-Pipe discloses more than $28 million in new North American orders

Perma-Pipe ($PPIH) disclosed new North American orders exceeding $28 million during the first two months of its fiscal third quarter. The awards cover district heating, Canadian oil and gas projects and US data centres, extending demand across several end markets rather than a single customer category. The company expects the activity to support work through the winter period, although it did not publish a detailed shipment schedule for each contract.

The orders improve visibility for its insulated-piping business, but the total is not revenue already recognized and does not establish the eventual profit margin. Perma-Pipe also established a legal presence in Jordan as part of its regional expansion efforts. A related joint venture with Welspun remains prospective following a memorandum of understanding, so that initiative should not be presented as a completed operating business or included as secured incremental orders.

Sources:

• Perma-Pipe — issuer order announcement