Perma-Pipe Q1 2026 net sales up 7.5% YoY to $50.3M; backlog reaches $136.5M

Perma-Pipe reported first quarter 2026 net income of $1.8 million, down from $5.0 million year-over-year due to new facility startup costs and Middle East project delays, though no cancellations occurred. The company maintains confidence in fiscal 2026 growth expectations supported by a 12% increase in backlog driven by AI data center projects and robust bidding activity across key markets.