Filing Flows › Perma-Pipe International Holdings (PPIH) › Q1 FY27
Perma-Pipe International Holdings (PPIH) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Jun 9, 2026
Perma-Pipe International Holdings (PPIH) reported revenue of $50.3M for the first quarter fiscal 2027 (Q1 FY27), +8% from a year earlier and -9% from the quarter before. Operating margin was 9.2%, net earnings $1.8M (3.6% of revenue).
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 follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $50.3M | -9% | +8% |
| Gross profit | $14.6M | -16% | -12% |
| Operating profit | $4.6M | -33% | -41% |
| Net earnings | $1.8M | -63% | -64% |
| Operating cash flow | $6.1M | — | +734% |
| Free cash flow | $4.9M | — | — |
What changed
Revenue was $50.3M in Q1 FY27, up 8% year over year and down 9% from the previous quarter.
Gross margin was 29.1%, down 6.7 points from Q1 FY26. Operating profit was $4.6M, a 9.2% margin (down 7.7 points year over year). Operating profit fell $3.3M even though revenue rose $3.5M versus Q1 FY26, so costs grew faster than sales. Operating expenses grew 13% against revenue growth of 8%. The fastest-growing cost line was General & admin (+14%). Net earnings were $1.8M, down 64% year over year. The effective tax rate was 34.0%.
Operating cash flow was $6.1M (up 734% year over year), 236% of net income including minority interests. Non-cash charges added back $1.6M of depreciation and amortization and $180K of share-based compensation. Working capital and other items added $1.8M. Capital expenditures of $1.3M left free cash flow of $4.9M.
Questions
What was Perma-Pipe International Holdings' revenue in the first quarter fiscal 2027?
Perma-Pipe International Holdings (PPIH) reported revenue of $50.3M for the first quarter fiscal 2027 (Q1 FY27), +8% from a year earlier and -9% from the quarter before.
Was Perma-Pipe International Holdings profitable in the first quarter fiscal 2027?
Operating profit was $4.6M (9.2% of revenue) and net earnings $1.8M.
Source: Perma-Pipe International Holdings 10-Q on SEC EDGAR.