Northwest Pipe (NWPX) Tops Q1 EPS by 5c, Revenues Beat

Northwest Pipe (NASDAQ: NWPX) reported Q1 EPS of $0.33, $0.05 better than the analyst estimate of $0.28. Revenue for the quarter came in at $68.92 million versus the consensus estimate of $67.5 million.

Management Commentary

"The COVID-19 pandemic has had a major impact on society and the economy. However, we continue to operate all of our plants with the exception of the San Luis Río Colorado facility in Mexico which the Mexican government required us to temporarily close. Fortunately, we have more than enough capacity at our remaining plants to absorb current and future orders for this facility," said Scott Montross, President and CEO of Northwest Pipe Company. "Before taking into account purchase accounting associated with our acquisition of Geneva, first quarter revenue and margins were in-line with our projections from the previous earnings call. Furthermore, even though steel pressure pipe backlog declined, as we projected, it remains very elevated by historic standards. Our order book for the concrete pipe and precast business is very strong as we head into the traditionally busy time of the year."

For earnings history and earnings-related data on Northwest Pipe (NWPX) click here.

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