Filing Flows › Perma-Pipe International Holdings (PPIH) › Q1 FY27 › vs Q4 FY26
Perma-Pipe International Holdings (PPIH) Q1 FY27 vs Q4 FY26 (quarter over quarter)
Perma-Pipe International Holdings's revenue fell $4.9M (-9%) from $55.1M in Q4 FY26 to $50.3M in Q1 FY27. Gross margin 29.1% against 31.4% (-2.3 pts).
Perma-Pipe International Holdings, Q1 FY27: revenue $50.3M (+8% year over year), operating margin 9.2%, net earnings $1.8M, operating cash flow $6.1M. The chart draws each line against Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Gross margin | 29.1% | 31.4% | -2.3 pts |
| Operating margin | 9.2% | 12.6% | -3.4 pts |
| Net margin | 3.6% | 8.9% | -5.3 pts |
| Free cash flow margin | 9.7% | -16.0% | +25.7 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $50.3M | $55.1M | −$4.9M | -9% |
| Gross profit | $14.6M | $17.3M | −$2.7M | -16% |
| Cost of revenue | $35.6M | $37.8M | −$2.2M | -6% |
| Operating profit | $4.6M | $7.0M | −$2.3M | -33% |
| Operating expenses | $10.0M | $10.4M | −$368K | -4% |
| Pre-tax earnings | $3.9M | $6.4M | −$2.5M | -39% |
| Other expense, net | $715K | $566K | $149K | +26% |
| Sales & marketing | $1.2M | $1.2M | −$37K | -3% |
| General & admin | $8.8M | $9.2M | −$331K | -4% |
| Net earnings | $1.8M | $4.9M | −$3.1M | -63% |
| Minority interests | $789K | $701K | $88K | +13% |
| Income tax | $1.3M | $786K | $546K | +69% |
| Depreciation & amortization | $1.6M | $2.0M | −$450K | -22% |
| Share-based compensation | $180K | $525K | −$345K | -66% |
| Working capital & other | $2.5M | −$14.3M | $16.8M | — |
| Operating cash flow | $6.1M | −$6.8M | $12.9M | — |
| Free cash flow (OCF − capex) | $4.9M | −$8.8M | $13.7M | — |
| Capital expenditures | $1.3M | $2.0M | −$780K | -38% |
Questions
How much did Perma-Pipe International Holdings's revenue grow quarter over quarter in Q1 FY27?
Perma-Pipe International Holdings's revenue fell $4.9M (-9%) from $55.1M in Q4 FY26 to $50.3M in Q1 FY27. Gross margin 29.1% against 31.4% (-2.3 pts).