Perma-Pipe International Stock Jumps 23% On Strong Q1 Results

(RTTNews) - Perma-Pipe International Holdings, Inc. (PPIH) shares climbed 23.89 percent, or $3.48, on Friday, following the release of first-quarter financial results.

The company reported net income of $5.0 million, up from $1.4 million a year ago. Earnings per share rose to $0.62 from $0.18. Net sales increased to $46.7 million from $34.3 million. Gross profit also improved significantly, reaching $16.7 million compared to $10.5 million in the prior-year quarter. The stock is currently trading at $18.05 after opening at $17.00, with an intraday range of $16.50 to $19.14 on the Nasdaq. Volume has surged to 192,230 shares, well above the average of 27,314. The stock's 52-week range is $7.72 to $19.14.