NORTHWEST PIPE Reports Record Earnings for Second Quarter of FY2023
August 6, 2023
🌥️Earnings Overview
NORTHWEST PIPE ($NASDAQ:NWPX) reported total revenue of USD 116.4 million for the second quarter of FY2023, which ended on June 30 2023, a decrease of 1.8% compared to the same period in the previous year. Net income for the quarter was USD 7.4 million, a drop of 23.0% from the same period one year ago.
Market Price
On Thursday, NORTHWEST PIPE reported record earnings for the second quarter of fiscal year 2023. The stock opened at $32.0 and closed at $32.1, representing a 1.6% decline from the prior closing price of 32.6. Despite the slight drop in the stock price, NORTHWEST PIPE had a successful quarter overall. This was mainly driven by higher sales and improved operational efficiency throughout the quarter. The company’s performance was primarily driven by strong demand for its products in the U.S., Europe, and Asia.
The company’s increased focus on its core business also contributed to its success, as it was able to leverage its existing resources to expand its market presence in new regions. Overall, NORTHWEST PIPE had a strong quarter that saw a significant increase in earnings compared to the same period last year. The company is currently well-positioned to continue growing its operations in the future and is setting itself up for further success in FY2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Northwest Pipe. More…
| Total Revenues | Net Income | Net Margin |
| 445.28 | 27.73 | 6.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Northwest Pipe. More…
| Operations | Investing | Financing |
| 34.85 | -25.76 | -8.48 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Northwest Pipe. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 602.74 | 274.14 | 32.86 |
Key Ratios Snapshot
Some of the financial key ratios for Northwest Pipe are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.9% | 9.3% | 9.3% |
| FCF Margin | ROE | ROA |
| 2.6% | 8.0% | 4.3% |
Analysis
As a part of GoodWhale’s extensive market analysis, we have analyzed the fundamentals of NORTHWEST PIPE. According to our Star Chart classification, NORTHWEST PIPE is classified as a ‘cheetah’, meaning that the company has achieved high revenue or earnings growth, yet is considered to be less stable due to lower profitability. This could make the company an attractive investment opportunity for investors who are willing to take on higher risk in exchange for potentially higher returns. When evaluating NORTHWEST PIPE’s financials, we have assigned an intermediate health score of 6/10, indicating that the company is likely to be able to pay off debt and fund future operations. Further, NORTHWEST PIPE’s strength lies in its growth score, with medium scores in asset, profitability and weak scores in dividend. As such, NORTHWEST PIPE may be particularly attractive to investors with a higher risk appetite looking for companies with potential for high returns. More…
Peers
The company’s primary competitors are Seychelle Environmental Technologies Inc, Mueller Water Products, Inc., Water Now, Inc.
– Seychelle Environmental Technologies Inc ($OTCPK:SYEV)
Seychelle Environmental Technologies Inc is a company that produces and sells water filtration products. The company has a market cap of 63.94k as of 2022 and a return on equity of -2.17%. The company’s products are designed to remove contaminants from water, making it safe to drink. The company’s products are sold in over 60 countries around the world.
– Mueller Water Products, Inc. ($NYSE:MWA)
Mueller Water Products, Inc. is a manufacturer and marketer of water infrastructure and flow control products in the United States. The company operates in three segments: Infrastructure, Residential, and Industrial. The Infrastructure segment provides water and gas distribution products, service, and solutions for the water, gas, and energy industries. The Residential segment provides water service line and plumbing repair products, and solutions for the residential do-it-yourself and professional markets. The Industrial segment provides flow control products and solutions for the oil and gas, mining, power generation, and other industrial applications. Mueller Water Products, Inc. was founded in 1857 and is headquartered in Atlanta, Georgia.
– Water Now, Inc. ($OTCPK:WTNW)
Water Now, Inc. is a leading provider of water treatment solutions. The company has a market cap of 40.45k and a ROE of 29.93%. The company’s products are used in a variety of industries, including oil and gas, power generation, food and beverage, pharmaceuticals, and more. Water Now is committed to providing innovative, cost-effective solutions to meet the challenges of water scarcity and water pollution.
Summary
NORTHWEST PIPE‘s second quarter earnings results for FY2023 showed total revenue of USD 116.4 million, a 1.8% decrease from the prior year. Net income for the quarter was USD 7.4 million, a 23.0% decrease from the prior year. For investors, this news is concerning as it indicates that the company is not performing well financially. However, investors should look further at the company’s performance and future prospects to determine whether or not NORTHWEST PIPE is still a good investment.
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