<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=192888919167017&amp;ev=PageView&amp;noscript=1">
Sunday, December 3, 2023
Dec. 3, 2023

Linkedin Pinterest

Northwest Pipe reports decline in first-quarter sales

By , Columbian staff writer

Northwest Pipe Co., the Vancouver-based pipe manufacturer, reported Wednesday that the company’s first-quarter net sales decreased by 9.4 percent.

The company brought in $99.1 million in that time period, compared with $109.3 million in the first quarter of 2022.

The latest earnings report mentioned, however, that the company’s gross profits increased 12.1 percent to $16.6 million, compared with $14.8 million in the beginning of 2022.

Its net income also fell from last year, coming in at $2.4 million in the first quarter of 2023, compared with $3.6 million during the same period in 2022.

The company’s President and CEO Scott Montross said the quarter went as expected with challenges because of extreme weather and customer-driven production delays. He said he expects the second quarter to move back toward last year’s levels.

The company’s Engineered Steel Pressure Pipe Segment reported a 14.9 percent decrease in net sales compared with the first quarter of 2022. And the Precast Infrastructure and Engineered Systems Segment saw a net sales increase of 2.7 percent, compared with the previous year.

Northwest Pipe trades on the Nasdaq as NWPX. Its stock closed Thursday at $26.90 per share, down from $27.92 per share on Wednesday.

Support local journalism

Your tax-deductible donation to The Columbian’s Community Funded Journalism program will contribute to better local reporting on key issues, including homelessness, housing, transportation and the environment. Reporters will focus on narrative, investigative and data-driven storytelling.

Local journalism needs your help. It’s an essential part of a healthy community and a healthy democracy.

Community Funded Journalism logo