Core Insights - NWPX Infrastructure, Inc. reported record financial results for Q2 2025, with consolidated revenue reaching $133.2 million, a 2.8% increase year-over-year, driven by strong performance in both business segments [3][5][6] - The company achieved a gross margin of 19.0%, up 230 basis points from the previous quarter, reflecting improved production efficiency and market demand [3][5] - The Water Transmission Systems (WTS) segment generated $84.6 million in revenue, while the Precast segment achieved record revenue of $48.6 million, marking a 21.5% increase from the prior year [3][5][6] Company Name Change and Segment Renaming - Effective June 12, 2025, the company changed its name from Northwest Pipe Company to NWPX Infrastructure, Inc. [2] - The "Engineered Steel Pressure Pipe (SPP)" segment was renamed to "Water Transmission Systems (WTS)" to better reflect its capabilities [2] Financial Performance - Q2 2025 net income was $9.1 million, or $0.91 per diluted share, compared to $8.6 million, or $0.86 per diluted share in Q2 2024 [6] - The backlog for the WTS segment increased to $298 million, with total backlog including confirmed orders reaching $348 million, a 20% increase from the end of Q1 2025 [3][5][6] - The Precast segment's gross margin improved by 210 basis points sequentially, supported by higher shipping levels [3][5] Operational Highlights - The company repurchased $15.0 million of common stock from April to July 2025, representing 3.6% of its outstanding shares [5] - As of June 30, 2025, the company had $30.6 million in outstanding revolving loan borrowings and an additional borrowing capacity of approximately $93 million [6] Conference Call Information - A conference call to discuss the Q2 2025 financial results is scheduled for August 8, 2025, at 7:00 a.m. PT [12]

Core Insights - Northwest Pipe Company reported its financial results for Q1 2025, highlighting a mix of challenges and respectable performance across its business segments [1][2]. Financial Performance - Net sales for Q1 2025 were $116.1 million, a 2.6% increase from $113.2 million in Q1 2024 [4][5]. - Net income decreased to $4.0 million, or $0.39 per diluted share, compared to $5.2 million, or $0.52 per diluted share in the same period last year [5][20]. - Gross profit fell by 3.8% to $19.4 million, representing 16.7% of net sales, down from 17.8% in Q1 2024 [5][20]. Segment Performance - The Engineered Steel Pressure Pipe (SPP) segment generated $78.4 million in revenue, a 2.0% decrease from $80.0 million in Q1 2024, with a gross profit margin of 15.5% [5][6]. - The Precast Infrastructure and Engineered Systems segment saw revenues increase by 13.4% to $37.7 million, with a gross profit margin of 19.1%, marking a 140 basis point improvement year-over-year [14][20]. Backlog and Orders - The SPP backlog was $203 million as of March 31, 2025, down from $213 million at the end of 2024 [6]. - The backlog including confirmed orders for SPP was $289 million, a decrease from $310 million at the end of 2024 [6]. - The Precast order book rose to $64 million, up 23% year-over-year, driven by growth in the non-residential segment [14]. Strategic Outlook - The company anticipates a rebound in bidding activity in Q2 2025, with backlog climbing above $300 million [2]. - Expectations for the second half of 2025 include continued growth in both revenue and margins for both business segments [2][14]. - The company plans to rebrand as NWPX Infrastructure, Inc. in June 2025, reflecting its strategic evolution towards infrastructure-focused solutions [2][4].