Post by MikeTesteron Jan 23, 2025 8:24pm
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Post# 36418134
Perma-Pipe International Holdings: A Resilient Player in the
Perma-Pipe International Holdings: A Resilient Player in theLooks like a solid play in the piping systems market. PPIH has been grinding it out with some decent financials. Gross margins improving from 25% to 27.50% and that recent quarter showing 36% margin is pretty sweet. Backlog at $75.5M is looking strong compared to last year's $68.5M. Digging the geographic spread - 60% Americas, 40% MENA gives them nice diversification. That Saudi JV could be a nice catalyst for future growth. Net income jumped 222% YoY in the latest quarter which is nothing to sneeze at. Trading at what looks like a reasonable valuation given the market opportunity.BTW, BeyondSPX has high quality in-depth analysis on just about every US stock out there, even microcaps, for free. Definitely worth checking out for deeper research. Might take a small position here and watch how PPIH executes in the next few quarters. https://beyondspx.com/article/perma-pipe-international-holdings-a-resilient-player-in-the-growing-piping-systems-market