Northwest Pipe Company (NASDAQ:NWPX) Q4 2022 Earnings Conference Call March 16, 2023 10:00 AM ET Company Participants Scott Montross - President and CEO Aaron Wilkins - CFO Conference Call Participants Ted Jackson - Northland Securities Brent Thielman - D.A. Davidson David Wright - Henry Investment Trust Operator Greetings. Welcome to Northwest Pipe Company Fourth Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presen ...

Northwest Pipe Company (NASDAQ:NWPX) Q3 2022 Earnings Conference Call November 9, 2022 10:00 AM ET Company Participants Scott Montross - President and CEO Aaron Wilkins - CFO Conference Call Participants Brent Thielman - D.A. Davidson David Wright - Henry Investment Trust Operator Greetings. Welcome to Northwest Pipe Company's Third Quarter 2022 Earnings Call. [Operator Instructions] Please note, this conference is being recorded. At this time, I will now turn the conference over to Scott Montross, CEO. Mr. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to _______ Commission File Number: 0-27140 NORTHWEST PIPE COMPANY (Exact name of registrant as specified in its charter) Oregon 93-0557988 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to _______ Commission File Number: 0-27140 NORTHWEST PIPE COMPANY (Exact name of registrant as specified in its charter) (Address of principal e ...

INVESTOR PRESENTATION WWW.NWPIPE.COM August 2022 FORWARD LOOKING STATEMENTS Statements in this presentation are "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 ris ...

Northwest Pipe Company (NASDAQ:NWPX) Q2 2022 Earnings Conference Call August 8, 2022 5:00 PM ET Company Participants Scott Montross - President & Chief Executive Officer Aaron Wilkins - Chief Financial Officer Conference Call Participants David Wright - Henry Investment Trust Jean Ramirez - D.A. Davidson Operator Thank you for standing by. This is the conference operator. Welcome to the Northwest Pipe Company Second Quarter 2022 Earnings Call. As a reminder, all participants are in a listen-only mode and th ...

Northwest Pipe Company (NASDAQ:NWPX) Q1 2022 Earnings Conference Call May 5, 2022 10:00 AM ET Company Participants Scott Montross - President & Chief Executive Officer Aaron Wilkins - Chief Financial Officer Conference Call Participants Brent Thielman - D.A. Davidson Auguste Richard - Northland Capital Markets David Wright - Henry Investment Trust Operator Greetings. Welcome to the Northwest Pipe Company First Quarter 2022 Earnings Call. [Operator Instructions] And please note that this conference is being ...

INVESTOR PRESENTATION WWW.NWPIPE.COM May 2022 FORWARD LOOKING STATEMENTS Statements in this presentation are "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 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to _______ Commission File Number: 0-27140 NORTHWEST PIPE COMPANY (Exact name of registrant as specified in its charter) Oregon 93-0557988 (Sta ...

Acquisitions and Market Position - Northwest Pipe Company completed the acquisition of Park Environmental Equipment, LLC for approximately $88.4 million in cash, enhancing its position in the water infrastructure technology market [25]. - The company acquired Geneva Pipe and Precast Company for $49.4 million in cash, expanding its water infrastructure product capabilities with additional reinforced concrete pipe capacity [26]. - The company acquired ParkUSA on October 5, 2021, and Geneva on January 31, 2020, with the success of these acquisitions dependent on effective integration and realization of anticipated benefits [104]. - The company acquired Park Environmental Equipment, LLC in October 2021, enhancing its product offerings in water and wastewater solutions [161]. Financial Performance - Net sales increased by 16.6% to $333.3 million in 2021 compared to $285.9 million in 2020 [167]. - Engineered Steel Pressure Pipe (SPP) net sales rose by 7.5% to $259.8 million in 2021, driven by a 15% increase in selling price per ton [168]. - Precast Infrastructure and Engineered Systems net sales surged by 66.2% to $73.5 million in 2021, primarily due to the acquisition of ParkUSA, contributing $18.0 million in Q4 2021 [169]. - Gross profit decreased by 12.4% to $44.3 million (13.3% of net sales) in 2021 compared to $50.5 million (17.7% of net sales) in 2020 [170]. - SPP gross profit fell by 29.4% to $31.3 million (12.0% of SPP net sales) in 2021, impacted by changes in product mix and project pricing pressure [171]. - Precast gross profit increased by 108.4% to $13.0 million (17.7% of Precast net sales) in 2021, aided by higher prices and production volume [172]. - Selling, general, and administrative expenses rose by 13.1% to $28.2 million (8.4% of net sales) in 2021, primarily due to higher compensation and acquisition-related costs [173]. - Income tax expense was $3.6 million in 2021, with an effective tax rate of 24.0%, compared to $6.6 million and 25.7% in 2020 [175]. Market Demand and Infrastructure Investment - As of December 31, 2021, the backlog for water infrastructure steel pipe products was approximately $183 million, up from $167 million in 2020, indicating a positive trend in demand [44]. - The total addressable market for engineered welded steel pipeline system products is estimated to be approximately $1.8 billion over the next three years [40]. - The American Society of Civil Engineers estimates that $150 billion will be needed for capital investment in water and wastewater infrastructure by 2025, and $204 billion by 2040 [35]. - The Bipartisan Infrastructure Deal will invest $55 billion to expand access to clean drinking water across the country, providing significant opportunities for growth in the water infrastructure sector [33]. - The average age of drinking water and wastewater pipes in the U.S. is approximately 45 years, indicating a critical need for repair and replacement [41]. Operational and Compliance Risks - The Engineered Steel Pressure Pipe segment faces overcapacity issues due to recent capacity expansions and increased competition from substitute products, negatively impacting sales and gross margins [95]. - The company is subject to risks from project delays in public water transmission projects, which could adversely affect financial performance [93]. - A downturn in government spending related to public water transmission projects could negatively impact the company's business and financial condition [94]. - Compliance with stringent environmental, health, and safety laws is a significant factor, with expected substantial expenditures for compliance and potential penalties for non-compliance [100]. - The company faces risks related to environmental assessments and potential liabilities, which could require significant future expenditures [102]. - The company is exposed to interest rate risk due to its variable rate indebtedness, which could increase debt service obligations if interest rates rise [132]. Employee and Safety Metrics - As of December 31, 2021, the company employed 1,256 individuals, with a weighted-average tenure of 8 years [72]. - Company is committed to equal pay for equal work, regardless of employee demographics [73]. - The average total recordable incident rate over the last four years was 2.48, and the average days away rate was 0.52, indicating strong safety performance [76]. - As of December 31, 2021, 46% of employees in the United States self-identified as belonging to underrepresented racial/ethnic groups, and 11% self-identified as female [78]. Financial Position and Capital Expenditures - The company had $86.8 million of outstanding revolving loan borrowings and $1.6 million of outstanding letters of credit as of December 31, 2021, with additional borrowing capacity of approximately $37 million under the Amended Credit Agreement [128]. - The company has $98.4 million of operating lease liabilities and $2.2 million of finance lease liabilities as of December 31, 2021 [129]. - Future capital expenditures in 2022 are expected to be approximately $26 million to $30 million, including $13 million for a new reinforced concrete pipe mill [191]. - The company may need to substantially increase working capital if market conditions and customer order levels continue to grow, which could adversely affect its financial position and cash flows [128]. Steel Price Volatility - Steel is a substantial portion of cost of sales, with prices influenced by economic conditions and other external factors [66]. - The average cost of steel per ton was approximately $1,291 in 2021, compared to $655 in 2020 and $803 in 2019, indicating significant price volatility [123]. - Monthly average steel purchasing costs in 2021 ranged from a high of approximately $1,975 per ton to a low of approximately $656 per ton, affecting gross profit margins [123]. - Steel costs increased by 67% in 2021 compared to 2020, significantly impacting cost of sales for steel pipe products [163]. - Fluctuations in steel prices and availability may adversely affect the company's future results of operations, with the steel industry being highly cyclical [123].