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Thursday, February 22, 2024
Feb. 22, 2024

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Northwest Pipe Company sales slip from record highs in 2022

By , Columbian staff writer
Published:

Manufacturer Northwest Pipe Company reported $116.4 million in net sales in the company’s latest earnings statement. The number was a 1.8 percent decrease compared with the same period a year earlier. Gross profits also decreased — 6.6 percent compared with the same period in the previous year — to $22.5 million. President and CEO of the Vancouver-based company, Scott Montross, said rising interest rates and the associated impacts on commercial and residential construction has affected the market. But the company saw record highs in 2022 and is “still projecting a good year by historical standards.”

NW Pipe trades on the Nasdaq as NWPX. Its stock closed Friday at $32.11 per share, down from where it closed Thursday at $32.13.

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