NWPX Infrastructure, Inc. Announces Second Quarter 2025 Financial Results
NWPX Infrastructure (NASDAQ: NWPX) reported strong Q2 2025 financial results, achieving record net sales of $133.2 million, up 2.8% year-over-year. The company's Precast segment reached record sales of $48.6 million, while Water Transmission Systems (WTS) segment generated sales of $84.6 million.
Key highlights include net income of $0.91 per diluted share, WTS backlog of $298 million with confirmed orders reaching $348 million, and Precast order book of $56 million. The company completed a $15.0 million stock repurchase from April through July 2025, representing 3.6% of outstanding shares. Additionally, the company rebranded from Northwest Pipe Company to NWPX Infrastructure in June 2025.
NWPX Infrastructure (NASDAQ: NWPX) ha riportato risultati finanziari solidi nel secondo trimestre 2025, raggiungendo un fatturato netto record di 133,2 milioni di dollari, in crescita del 2,8% rispetto all'anno precedente. Il segmento Precast ha raggiunto vendite record per 48,6 milioni di dollari, mentre il segmento Water Transmission Systems (WTS) ha generato vendite per 84,6 milioni di dollari.
I punti salienti includono un utile netto di 0,91 dollari per azione diluita, un portafoglio ordini WTS di 298 milioni di dollari con ordini confermati pari a 348 milioni di dollari, e un portafoglio ordini Precast di 56 milioni di dollari. La societ脿 ha completato un riacquisto di azioni per 15,0 milioni di dollari da aprile a luglio 2025, rappresentando il 3,6% delle azioni in circolazione. Inoltre, a giugno 2025, l'azienda ha cambiato nome da Northwest Pipe Company a NWPX Infrastructure.
NWPX Infrastructure (NASDAQ: NWPX) report贸 s贸lidos resultados financieros en el segundo trimestre de 2025, alcanzando ventas netas r茅cord de 133,2 millones de d贸lares, un aumento del 2.8% interanual. El segmento Precast alcanz贸 ventas r茅cord de 48,6 millones de d贸lares, mientras que el segmento Water Transmission Systems (WTS) gener贸 ventas por 84,6 millones de d贸lares.
Los aspectos destacados incluyen un ingreso neto de 0,91 d贸lares por acci贸n diluida, una cartera de pedidos WTS de 298 millones de d贸lares con 贸rdenes confirmadas que alcanzan 348 millones de d贸lares, y una cartera de pedidos Precast de 56 millones de d贸lares. La compa帽铆a complet贸 una recompra de acciones por 15,0 millones de d贸lares desde abril hasta julio de 2025, representando el 3,6% de las acciones en circulaci贸n. Adem谩s, en junio de 2025, la empresa cambi贸 su nombre de Northwest Pipe Company a NWPX Infrastructure.
NWPX Infrastructure (NASDAQ: NWPX)電� 2025雲� 2攵勱赴 臧曤牓頃� 鞛 鞁れ爜鞚� 氤搓碃頃橂┌ 鞝勲厔 雽�牍� 2.8% 歃濌皜頃� 1鞏� 3,320毵� 雼煬鞚� 靷儊 斓滉碃 靾滊Г於滌潉 旮半頄堨姷雼堧嫟. 頂勲Μ旌愳姢韸� 攵�氍胳潃 4,860毵� 雼煬鞚� 斓滉碃 毵れ稖鞚� 雼劚頄堨溂氅�, 鞗岉劙 韸鸽灉鞀る靺� 鞁滌姢韰�(WTS) 攵�氍胳潃 8,460毵� 雼煬鞚� 毵れ稖鞚� 旮半頄堨姷雼堧嫟.
欤检殧 雮挫毄鞙茧電� 頋劃 欤茧嫻 靾滌澊鞚� 0.91雼煬, WTS 靾橃＜鞛旉碃 2鞏� 9,800毵� 雼煬 氚� 頇曥澑霅� 欤茧鞎� 3鞏� 4,800毵� 雼煬, 頂勲Μ旌愳姢韸� 靾橃＜鞛旉碃 5,600毵� 雼煬臧� 韽暔霅╇媹雼�. 須岇偓電� 2025雲� 4鞗旊秬韯� 7鞗旉箤歆� 1,500毵� 雼煬 攴滊鞚� 鞛愳偓欤� 毵れ瀰鞚� 鞕勲頄堨溂氅�, 鞚措姅 氚滍枆 欤检嫕鞚� 3.6%鞐� 頃措嫻頃╇媹雼�. 霕愴暅 2025雲� 6鞗旍棎 Northwest Pipe Company鞐愳劀 NWPX Infrastructure搿� 靷獏鞚� 氤�瓴巾枅鞀惦媹雼�.
NWPX Infrastructure (NASDAQ : NWPX) a publi茅 de solides r茅sultats financiers pour le deuxi猫me trimestre 2025, atteignant un chiffre d'affaires net record de 133,2 millions de dollars, en hausse de 2,8 % par rapport 脿 l'ann茅e pr茅c茅dente. Le segment Pr茅cast a enregistr茅 des ventes record de 48,6 millions de dollars, tandis que le segment Water Transmission Systems (WTS) a g茅n茅r茅 des ventes de 84,6 millions de dollars.
Les points cl茅s comprennent un b茅n茅fice net de 0,91 dollar par action dilu茅e, un carnet de commandes WTS de 298 millions de dollars avec des commandes confirm茅es atteignant 348 millions de dollars, et un carnet de commandes Pr茅cast de 56 millions de dollars. La soci茅t茅 a r茅alis茅 un rachat d鈥檃ctions de 15,0 millions de dollars d鈥檃vril 脿 juillet 2025, repr茅sentant 3,6 % des actions en circulation. De plus, en juin 2025, l鈥檈ntreprise a chang茅 de nom, passant de Northwest Pipe Company 脿 NWPX Infrastructure.
NWPX Infrastructure (NASDAQ: NWPX) meldete starke Finanzergebnisse f眉r das zweite Quartal 2025 und erzielte einen Rekordumsatz von 133,2 Millionen US-Dollar, was einem Anstieg von 2,8 % im Jahresvergleich entspricht. Das Segment Precast erreichte Rekordverk盲ufe von 48,6 Millionen US-Dollar, w盲hrend das Segment Water Transmission Systems (WTS) Ums盲tze von 84,6 Millionen US-Dollar generierte.
Zu den wichtigsten Highlights z盲hlen ein Nettogewinn von 0,91 US-Dollar je verw盲sserter Aktie, ein WTS-Auftragsbestand von 298 Millionen US-Dollar mit best盲tigten Auftr盲gen in H枚he von 348 Millionen US-Dollar sowie ein Precast-Auftragsbestand von 56 Millionen US-Dollar. Das Unternehmen schloss von April bis Juli 2025 einen Aktienr眉ckkauf im Wert von 15,0 Millionen US-Dollar ab, was 3,6 % der ausstehenden Aktien entspricht. Zudem erfolgte im Juni 2025 die Umbenennung von Northwest Pipe Company in NWPX Infrastructure.
- Record consolidated revenue of $133.2 million, up 2.8% year-over-year
- Record Precast segment revenue of $48.6 million, up 21.5% year-over-year
- Gross margin expanded to 19.0%, up 230 basis points from previous quarter
- WTS backlog including confirmed orders increased over 20% quarter-over-quarter to $348 million
- $15.0 million stock repurchase completed, showing confidence in company's future
- WTS net sales decreased 5.5% year-over-year to $84.6 million
- WTS gross profit margin declined to 17.8% from 19.0% year-over-year
- Operating cash flow decreased to $5.4 million from $22.3 million year-over-year
- Precast order book declined to $56 million from $64 million in previous quarter
Insights
NWPX delivered record quarterly sales with mixed segment performance; healthy backlog signals continued growth despite margin pressures.
NWPX Infrastructure posted a solid quarter with record consolidated revenue of
Breaking down segment performance reveals interesting dynamics. The Water Transmission Systems (WTS) segment saw revenue decline
The star performer was the Precast segment, which achieved record revenue of
Consolidated gross margin fell 90 basis points year-over-year to
Management's outlook suggests continued strength in Q3, with WTS revenues and margins expected to match or exceed Q2 levels, while Precast is anticipated to maintain strong revenue with improving margins. The healthy and growing backlog provides good visibility for the second half of 2025.
- Net sales of
$133.2 million 2.8% year-over-year - Record net sales of
$48.6 million - Net income of
$0.91 - Backlog1 of
$298听尘颈濒濒颈辞苍 for the Water Transmission Systems segment ("WTS"); backlog including confirmed orders2听辞蹿$348听尘颈濒濒颈辞苍 - Order book3 of
$56听尘颈濒濒颈辞苍 for Precast - Repurchased
$15.0 million 3.6% of the Company's shares outstanding - Completed corporate rebranding to NWPX Infrastructure, Inc. in June 2025
As previously announced, effective June听12, 2025, the Company's shareholders approved an Amendment to the Company's Articles of Incorporation to change the corporate name from Northwest Pipe Company to NWPX Infrastructure, Inc. and, at the same time, the Company renamed one of its two operating segments. The segment previously referred to as "Engineered Steel Pressure Pipe (SPP)" has been renamed "Water Transmission Systems (WTS)" to better reflect the value contribution specifically from the business unit's capabilities in engineering, production execution, and delivery of critical integrated water pipeline systems. The "Precast Infrastructure and Engineered Systems (Precast)" segment name remains unchanged. This change in naming convention does not affect the composition of the segments or the basis of segment reporting, as there have been no changes to how the Company's chief operating decision maker manages or evaluates performance. Historical results have been recast to reflect the updated segment name for all periods presented.
Management Commentary
"In the second quarter, NWPX Infrastructure delivered record results, demonstrating strong operational execution and demand across both business segments," said Scott Montross, President and Chief Executive Officer of NWPX Infrastructure, Inc. "We achieved consolidated revenue of
Montross continued, "WTS revenue reached
"Additionally, our Precast segment delivered record revenue of
Second听Quarter 2025 Financial Results
Consolidated
- Net sales increased
2.8% to$133.2 million $129 - Gross profit decreased
1.7% to$25.4 million 19.0% of net sales, from$25 19.9% of net sales, in the second quarter of 2024. - Net income was
$9.1 million $0.91 $8 $0.86
Water Transmission Systems Segment (WTS)
- WTS net sales decreased
5.5% to$84.6 million $89 10% decrease in tons produced resulting from changes in project timing, partially offset by a4% increase in selling price per ton due to changes in product mix. - WTS gross profit decreased
11.3% to$15.1 million 17.8% of WTS net sales, from$17 19.0% of WTS net sales, in the second quarter of 2024 due to decreased volume. - WTS backlog was
$298 million $203听尘颈濒濒颈辞苍 as of March听31, 2025 and$282听尘颈濒濒颈辞苍 as of June听30, 2024. Backlog including confirmed orders was$348听尘颈濒濒颈辞苍 as of June听30, 2025 compared to$289 million $348听尘颈濒濒颈辞苍 as of June听30, 2024.
Precast Infrastructure and Engineered Systems Segment (Precast)
- Precast net sales increased
21.5% to a quarterly record of$48.6 million $40 13% increase in volume shipped and a7% increase in selling prices due to changes in product mix. - Precast gross profit increased
16.7% to$10.3 million 21.2% of Precast net sales, from$8 22.1% of Precast net sales, in the second quarter of 2024 primarily due to increased volume. - Precast order book was
$56 million $64听尘颈濒濒颈辞苍 as of March听31, 2025 and$62听尘颈濒濒颈辞苍 as of June听30, 2024.
Balance Sheet, Cash Flow, and Capital Allocation
- As of June 30, 2025, the Company had
$30 $93听尘颈濒濒颈辞苍 under the revolving credit facility. - Net cash provided by operating activities was
$5.4 million $22 $17 - Capital expenditures were
$3.5 million $6 - The Company repurchased approximately 192,000 shares of its common stock at an average price of
$40.47 $7.8 million $42.04 $7
1听NWPX Infrastructure, Inc. defines "backlog" as the balance of remaining performance obligations under signed contracts for Water Transmission Systems products for which revenue is recognized over time. | ||||
2听NWPX Infrastructure, Inc. defines "confirmed orders" as Water Transmission Systems projects for which the Company has been notified that it is the successful bidder, but a binding agreement has not been executed. | ||||
3听NWPX Infrastructure, Inc. defines "order book" as unfulfilled orders outstanding at the measurement date for its Precast Infrastructure and Engineered Systems segment. | ||||
Conference Call Details
A conference call and simultaneous webcast to discuss the Company's second听quarter 2025听financial results will be held on Friday, August听8, 2025, at 7:00听a.m. Pacific Time. The call will be broadcast live on the Investor Relations section of the Company's website at investor.nwpipe.com and will be archived online upon completion of the conference call. For those unable to listen to the live call, a replay will be available approximately three hours after the event and will remain available until Friday, August听22, 2025, by dialing 1鈥�844鈥�512鈥�2921 in the
About NWPX Infrastructure, Inc.
Founded in 1966, NWPX Infrastructure, Inc. is a leading manufacturer of water-related infrastructure products. Under the Northwest Pipe Company brand, the Company is the largest manufacturer of engineered water transmission systems in
Forward-Looking Statements
Statements in this press release by Scott Montross contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on current expectations, estimates, and projections about the Company's business, management's beliefs, and assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements as a result of a variety of important factors. While it is impossible to identify all such factors, those that could cause actual results to differ materially from those estimated by the Company include changes in demand and market prices for its products, product mix, bidding activity and order modifications or cancelations, timing of customer orders and deliveries, production schedules, price and availability of raw materials, excess or shortage of production capacity, international trade policy and regulations, changes in trade policy (in particular with
Non-GAAP Financial Measures
The Company is presenting backlog including confirmed orders. This non-GAAP financial measure is provided to better enable investors and others to assess the Company's ongoing operating results and compare them with its competitors. This should be considered a supplement to, and not a substitute for, or superior to, financial measures calculated in accordance with GAAP.
For more information, visit .
Contact:
Aaron Wilkins
Chief Financial Officer
NWPX Infrastructure, Inc.
[email protected]
Or
Addo Investor Relations
[email protected]
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NWPX INFRASTRUCTURE, INC. AND SUBSIDIARIES | ||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
(Unaudited) | ||||||||||||||||
(In thousands, except per share amounts) | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net sales: | ||||||||||||||||
Water Transmission Systems | $ | 84,588 | $ | 89,523 | $ | 163,034 | $ | 169,530 | ||||||||
Precast Infrastructure and Engineered Systems | 48,594 | 39,982 | 86,263 | 73,190 | ||||||||||||
Total net sales | 133,182 | 129,505 | 249,297 | 242,720 | ||||||||||||
Cost of sales: | ||||||||||||||||
Water Transmission Systems | 69,533 | 72,542 | 135,805 | 138,307 | ||||||||||||
Precast Infrastructure and Engineered Systems | 38,284 | 31,149 | 68,762 | 58,465 | ||||||||||||
Total cost of sales | 107,817 | 103,691 | 204,567 | 196,772 | ||||||||||||
Gross profit: | ||||||||||||||||
Water Transmission Systems | 15,055 | 16,981 | 27,229 | 31,223 | ||||||||||||
Precast Infrastructure and Engineered Systems | 10,310 | 8,833 | 17,501 | 14,725 | ||||||||||||
Total gross profit | 25,365 | 25,814 | 44,730 | 45,948 | ||||||||||||
Selling, general, and administrative expense | 12,129 | 12,195 | 25,925 | 23,639 | ||||||||||||
Operating income | 13,236 | 13,619 | 18,805 | 22,309 | ||||||||||||
Other income (loss) | 21 | (228) | 28 | (221) | ||||||||||||
Interest expense | (763) | (1,823) | (1,398) | (3,297) | ||||||||||||
Income before income taxes | 12,494 | 11,568 | 17,435 | 18,791 | ||||||||||||
Income tax expense | 3,431 | 2,949 | 4,408 | 4,934 | ||||||||||||
Net income | $ | 9,063 | $ | 8,619 | $ | 13,027 | $ | 13,857 | ||||||||
Net income per share: | ||||||||||||||||
Basic | $ | 0.91 | $ | 0.87 | $ | 1.31 | $ | 1.40 | ||||||||
Diluted | $ | 0.91 | $ | 0.86 | $ | 1.30 | $ | 1.38 | ||||||||
Shares used in per share calculations: | ||||||||||||||||
Basic | 9,882 | 9,912 | 9,908 | 9,914 | ||||||||||||
Diluted | 9,961 | 9,995 | 10,041 | 10,025 | ||||||||||||
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NWPX INFRASTRUCTURE, INC. AND SUBSIDIARIES | ||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
(Unaudited) | ||||||||
(In thousands) | ||||||||
June 30, 2025 | December 31, 2024 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 2,031 | $ | 5,007 | ||||
Trade and other receivables, net | 78,320 | 66,946 | ||||||
Contract assets | 102,876 | 103,422 | ||||||
Inventories | 76,477 | 79,770 | ||||||
Prepaid expenses and other | 4,298 | 7,343 | ||||||
Total current assets | 264,002 | 262,488 | ||||||
Property and equipment, net | 153,533 | 150,456 | ||||||
Operating lease right-of-use assets | 88,158 | 87,747 | ||||||
Goodwill | 55,504 | 55,504 | ||||||
Intangible assets, net | 25,025 | 27,041 | ||||||
Other assets | 6,358 | 6,417 | ||||||
Total assets | $ | 592,580 | $ | 589,653 | ||||
Liabilities and Stockholders' Equity | ||||||||
Current liabilities: | ||||||||
Current portion of long-term debt | $ | 2,994 | $ | 2,994 | ||||
Accounts payable | 30,794 | 27,783 | ||||||
Accrued liabilities | 23,740 | 28,172 | ||||||
Contract liabilities | 4,218 | 11,197 | ||||||
Current portion of operating lease liabilities | 5,051 | 4,987 | ||||||
Total current liabilities | 66,797 | 75,133 | ||||||
Borrowings on line of credit | 30,644 | 24,677 | ||||||
Long-term debt | 9,979 | 11,476 | ||||||
Operating lease liabilities | 86,662 | 85,744 | ||||||
Deferred income taxes | 8,757 | 8,297 | ||||||
Other long-term liabilities | 10,289 | 10,323 | ||||||
Total liabilities | 213,128 | 215,650 | ||||||
Stockholders' equity: | ||||||||
Common stock | 98 | 99 | ||||||
Additional paid-in-capital | 121,010 | 128,407 | ||||||
Retained earnings | 259,358 | 246,331 | ||||||
Accumulated other comprehensive loss | (1,014) | (834) | ||||||
Total stockholders' equity | 379,452 | 374,003 | ||||||
Total liabilities and stockholders' equity | $ | 592,580 | $ | 589,653 | ||||
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NWPX INFRASTRUCTURE, INC. AND SUBSIDIARIES | ||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
(Unaudited) | ||||||||
(In thousands) | ||||||||
Six Months Ended June 30, | ||||||||
2025 | 2024 | |||||||
Cash flows from operating activities: | ||||||||
Net income | $ | 13,027 | $ | 13,857 | ||||
Adjustments to reconcile net income to net cash provided by (used in) operating | ||||||||
Depreciation and finance lease amortization | 7,278 | 7,106 | ||||||
Amortization of intangible assets | 2,016 | 2,016 | ||||||
Noncash operating lease expense | 3,172 | 2,966 | ||||||
Deferred income taxes | 453 | 227 | ||||||
Share-based compensation expense | 2,692 | 2,674 | ||||||
Other, net | 841 | 360 | ||||||
Changes in operating assets and liabilities: | ||||||||
Trade and other receivables | (11,829) | (23,653) | ||||||
Contract assets, net | (6,433) | (3,311) | ||||||
Inventories | 3,293 | 3,497 | ||||||
Prepaid expenses and other assets | 2,816 | 3,976 | ||||||
Accounts payable | 552 | (6,316) | ||||||
Accrued and other liabilities | (5,005) | (4,722) | ||||||
Operating lease liabilities | (2,601) | (2,492) | ||||||
Net cash provided by (used in) operating activities | 10,272 | (3,815) | ||||||
Cash flows from investing activities: | ||||||||
Purchases of property and equipment | (7,165) | (10,634) | ||||||
Other investing activities | 21 | 61 | ||||||
Net cash used in investing activities | (7,144) | (10,573) | ||||||
Cash flows from financing activities: | ||||||||
Borrowings on line of credit | 89,184 | 105,324 | ||||||
Repayments on line of credit | (83,217) | (83,886) | ||||||
Payments on other debt | (1,500) | - | ||||||
Payments on finance lease liabilities | (803) | (712) | ||||||
Tax withholdings related to net share settlements of equity awards | (2,313) | (1,449) | ||||||
Repurchase of common stock | (7,455) | (4,429) | ||||||
Net cash provided by (used in) financing activities | (6,104) | 14,848 | ||||||
Change in cash and cash equivalents | (2,976) | 460 | ||||||
Cash and cash equivalents, beginning of period | 5,007 | 4,068 | ||||||
Cash and cash equivalents, end of period | $ | 2,031 | $ | 4,528 | ||||
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FAQ
What were NWPX Infrastructure's Q2 2025 earnings per share?
How much is NWPX Infrastructure's current Water Transmission Systems backlog?
What was NWPX's stock buyback program in Q2 2025?
How did NWPX's Precast segment perform in Q2 2025?
Why did NWPX change its company name in 2025?
