Filing Flows › Perma-Pipe International Holdings (PPIH) › Q4 FY26
Perma-Pipe International Holdings (PPIH) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Apr 16, 2026
Perma-Pipe International Holdings (PPIH) reported revenue of $55.1M for the fourth quarter fiscal 2026 (Q4 FY26), +23% from a year earlier and -10% from the quarter before. Operating margin was 12.6%, net earnings $4.9M (8.9% of revenue).
Perma-Pipe International Holdings, Q4 FY26: revenue $55.1M (+22% year over year), operating margin 12.6%, net earnings $4.9M, operating cash flow −$6.8M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $55.1M | -10% | +23% |
| Gross profit | $17.3M | -17% | +14% |
| Operating profit | $7.0M | -39% | +28% |
| Net earnings | $4.9M | -22% | +179% |
| Operating cash flow | −$6.8M | -139% | -213% |
What changed
Revenue was $55.1M in Q4 FY26, up 23% year over year and down 10% from the previous quarter.
Gross margin was 31.4%, down 2.3 points from Q4 FY25. Operating profit was $7.0M, a 12.6% margin (up 0.6 points year over year). Of the extra revenue versus Q4 FY25, 15% reached operating profit, above the 12% margin then. Operating expenses grew 7% against revenue growth of 23%. Net earnings were $4.9M, up 179% year over year. The effective tax rate was 12.3%.
Operating cash flow was −$6.8M. Non-cash charges added back $2.0M of depreciation and amortization and $525K of share-based compensation. Working capital and other items used $15.0M. Capital expenditures of $2.0M exceeded it, leaving free cash flow of −$8.8M.
Questions
What was Perma-Pipe International Holdings' revenue in the fourth quarter fiscal 2026?
Perma-Pipe International Holdings (PPIH) reported revenue of $55.1M for the fourth quarter fiscal 2026 (Q4 FY26), +23% from a year earlier and -10% from the quarter before.
Was Perma-Pipe International Holdings profitable in the fourth quarter fiscal 2026?
Operating profit was $7.0M (12.6% of revenue) and net earnings $4.9M.
Source: Perma-Pipe International Holdings 10-K on SEC EDGAR.