SIF: Anatomy of the One That Got Away

How a Neutral rated stock turned into a big winner.

Zacks Investment Research • Oct 26, 2026

Perma-Pipe Announces New Orders Exceeding $28 Million in North America Through First Two Months of Fiscal Q3, with Strong Winter Activity Expected in Canadian Oil and Gas Sector

THE WOODLANDS, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH), a global leader in engineered piping and corrosion protection solutions, today announced that its North American operations secured new orders in excess of $28 million during the first two months of the Company's fiscal third quarter. The new orders secured to date in the fiscal third quarter of 2026 span district heating, Canadian oil and gas, and U.S. data center projects, reflecting continued comme.

Business Wire • Oct 20, 2026

Revisiting 2 Outperform Microcaps

Although PPIH and FRD have run, upside remains.

Zacks Investment Research • Oct 5, 2026

Perma-Pipe Trades at a Discount: Should You Buy, Sell or Hold?

PPIH benefits from sales growth, stronger cash flow, international expansion and added financing flexibility.

Zacks Investment Research • Sep 24, 2026

PPIH's Q2 Earnings Rise Y/Y on Strong North America, MENA Sales

Perma-Pipe's fiscal Q2 earnings per share and sales improve year over year on higher North America and MENA volumes, while backlog growth and new awards support momentum despite margin pressure.

Zacks Investment Research • Sep 15, 2026

Perma-Pipe: Robust Growth And Strong Execution Lead To Virtuous Cycle

Perma-Pipe International Holdings is entering a virtuous cycle of growth, driven by engineered systems, district heating/cooling demand, and reinvestment. PPIH's Q2-2026 results showed significant improvements over the same quarter last year; it also has made robust financial improvements over the past five years. Secular tailwinds in district heating/cooling, recurring revenue from multi-year service agreements, and expansion in the Middle East underpin the compounder thesis.

Seeking Alpha • Sep 15, 2026

Perma-Pipe: The Growth Is Back, And The Valuation Is Still Cheap

Perma-Pipe maintains a BUY rating, supported by re-accelerating revenue growth and a stabilizing backlog after a weak Q1. PPIH's Q2 2026 revenue grew 24.4% YoY to $59.6M, beating expectations, while backlog rose to $142.3M, signaling renewed demand momentum. Margins lag revenue growth as Ohio and Qatar facilities ramp up. Management targets gross margins above 30% as operating leverage improves.

Seeking Alpha • Sep 16, 2026

Perma-Pipe International Q2 Earnings Call Highlights

Perma-Pipe International NASDAQ: PPIH reported higher second-quarter fiscal 2026 sales and earnings as volumes increased in its Middle East and North Africa and North American operations, while the company expanded production capacity and added financing flexibility for future growth initiatives.

MarketBeat • Sep 9, 2026

Perma-Pipe International Holdings, Inc. (PPIH) Q2 2027 Earnings Call Transcript

Perma-Pipe International Holdings, Inc. (PPIH) Q2 2027 Earnings Call Transcript

Seeking Alpha • Sep 9, 2026

Perma-Pipe International Holdings, Inc. Announces Second Quarter Fiscal 2026 Financial Results

THE WOODLANDS, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) ("Perma-Pipe" or the "Company"), a global leader in engineered pipe services specializing in anti-corrosion coatings, insulation solutions, containment systems, custom fabrication and leak detection, today announced financial results for the second quarter of fiscal 2026 ended July 31, 2026. "Our second quarter results reflect continued commercial momentum and the fundamental strength of our end market.

Business Wire • Sep 9, 2026